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    Freestanding Commercial Building with Parking Title is generated by Realmo AI

    12640 Riverside Dr, Valley Village, CA 91607

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    Claim this Listing
    For Sale
    $7,650,000

    Two-story commercial building with parking and high visibility.

    Type:Vacant-User
    Property size:
    17,500 SF
    Lot size:
    0.53 Acres
    Price / SF:
    $437/SF
    Added:
    Apr 3, 2026
    Days on Market:
    66
    Last Refresh:
    Apr 3 at 5:38 am

    Property Features for 12640 Riverside Dr

    General Information

    Standard status
    Active
    Size
    17,500 SF
    Lot size
    0.53 Acres
    Property subtype
    Vacant-User

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Hannah Zager

    Listing agent Hannah Zager License #CA: 02140677

    Listing office Encino Office

    Listing date Apr 3, 2026

    Source Marcusmillichap

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Encino Office

    HighLights

    • Freestanding commercial building with ample, gated on‑site parking (31 spaces).
    • High visibility location on Riverside Drive with over 130 feet of frontage and signage visibility from the 101 freeway.
    • Extensively renovated in 1995 with $1.5 million in upgrades, plus new roof (25‑year warranty in 2024) and sprinkler system (2023).
    • Two‑story building (approx. 17,500 sq ft) with flexible floor plans divisible to 4,375 sq ft per floor.
    • Located near major developments including NoHo West and the proposed Metro development in Downtown North Hollywood.
    • Ground floor functions as warehouse/showroom with serviced elevator; upper floor offers open layout.

    Overview

    This freestanding, two-story commercial building offers approximately 17,500 square feet of space on a 0.53-acre parcel. The property features ample gated on-site parking with 31 dedicated spaces. Originally constructed in 1964 and extensively renovated in 1995 with over $1.5 million in upgrades, the property was modernized inside and out. In 2023, all sprinkler heads were replaced, and in 2024, a new roof system with a 25-year warranty was installed. The ground floor, approximately 8,750 square feet, currently functions as a warehouse and showroom and includes a serviced elevator. The upper floor, also approximately 8,750 square feet, offers an open layout suitable for a variety of uses. Both floors are divisible down to 4,375 square feet. The property is located just west of the Riverside Drive and Whitsett Avenue intersection, providing over 130 feet of frontage on a major east-west corridor with daily traffic exceeding 21,000 vehicles. It also has signage visibility from the 101 freeway, where traffic counts exceed 274,000 vehicles per day. Situated in a dense residential neighborhood, the site offers excellent visibility and accessibility. Transit improvements are underway nearby, including the planned light rail project along Van Nuys Boulevard, with phase 1 completion expected by 2031. This project will integrate with the Orange Line and is projected to serve roughly 50,000 passengers daily by 2040. The property is located within three miles of major developments, including the 25-acre NoHo West project and the proposed $1 billion, 16-acre Metro development in Downtown North Hollywood.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $592.2k $33.84
    − Vacancy −$39.1k −$2.23
    EGI $553.1k $31.61
    − OpEx −$165.9k −$9.48
    NOI $387.2k $22.12
    17,500 SF · lease $33.84/SF/yr · vacancy 6.60% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $5.53M
    $4.84M – $6.45M (±1% cap)
    NOI $387,180 @ 7.0% cap · market cap 5.06%
    Second Best
    Office B
    $5.46M
    $4.78M – $6.38M (±1% cap)
    NOI $382,536 @ 7.0% cap · market cap 5.00%
    Theoretical Best
    Office A
    $9.37M
    $8.20M – $10.93M (±1% cap)
    NOI $655,860 @ 7.0% cap · market cap 8.57%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Naimie's - Valley Village Cosmetic Store lashes in a box Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Valley Village
    County
    Los Angeles
    State
    California
    Longitude
    -118.4087308
    Latitude
    34.1574516

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story commercial building with parking and high visibility.
    Where is this mixed-use property located?
    The property is located at 12640 Riverside Dr Valley Village, CA.
    What is the asking price?
    The asking price for this property is $7,650,000.
    What are key features of this property?
    This property features: Freestanding commercial building with ample, gated on‑site parking (31 spaces).; High visibility location on Riverside Drive with over 130 feet of frontage and signage visibility from the 101 freeway.; Extensively renovated in 1995 with $1.5 million in upgrades, plus new roof (25‑year warranty in 2024) and sprinkler system (2023).
    (818) 212-2820
    We can help!
    Listing Contact
    Hannah Zager
    Real Estate License ID: CA: 02140677
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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