Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    724 S Spring Los Angeles, CA 90014

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Turnkey creative office space in the heart of Los Angeles.

    Type:Office
    Property size:
    20,840 SF
    Added:
    Apr 3, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 3 at 4:53 am

    Property Features for 724 S Spring

    General Information

    Standard status
    Active
    Size
    20,840 SF
    Property subtype
    Office

    Building Details

    Year Built
    1916

    Spaces For Lease

    at 724 S Spring Contact us

    We can help!

    Listing Contact
    Carlos Castillo

    Listing agent Carlos Castillo License #CA #01451618

    Listing office Los Angeles

    Listing date Apr 3, 2026

    Source Daumcommercial

    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 Los Angeles

    Overview

    Creative Office Space in Downtown

    This creative office space is located in the heart of Downtown Los Angeles. The property features exposed high ceilings, natural light, and polished concrete floors. It is positioned in a walker's paradise, with a food court and high-end residential buildings adjacent to the site. Transportation options include metro and freeway access less than a mile away. The property offers turnkey creative offices and has a size of 20840 square feet.
    Location Intelligence

    Current Use by Public Records

    Tara's Choice Indian ... Restaurant Gyoza Boyz LA Restaurant DR. COREE LEVY Physician Plant-It Burger Restaurant BurgerShop Restaurant

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Skin Care Clinic Gym & Fitness Center Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.2526813
    Latitude
    34.0438449

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Mixed-Use Space in Los Angeles

      1,056 sq ft mixed-use property in a vibrant location.
      1641 South Longwood Ave, Los Angeles, CA 90019
      View Details
    • Contact for pricing

      Retail Units in Prime Location

      Six retail units available for lease in Los Angeles.
      1212 S San Pedro, Los Angeles, CA 90015
      View Details
    • Contact for pricing

      Melrose Avenue Storefront with Income Potential

      Bright, versatile two-story storefront on iconic Melrose Avenue.
      7552 Melrose Ave, Los Angeles, CA 90046
      View Details
    • Contact for pricing

      Los Angeles Commercial Space Available

      Retail, office, showroom, or warehouse space in fashion district.
      1458 San Pedro, Los Angeles, CA 90015
      View Details
    • $1.95/mo

      Koreatown Retail/Medical Office Space

      High-traffic corner location ideal for retail or medical office.
      991 S Vermont, Los Angeles, CA 90006
      View Details
    • Contact for pricing

      Commercial Space in Los Angeles

      Versatile space suitable for office, retail, or warehouse use.
      3136 E Olympic Boulevard, Los Angeles, CA 90023
      View Details
    • Contact for pricing

      Office Space in Los Angeles

      Office space for lease in Los Angeles, approximately 378 sq.ft.
      844 Colorado, Los Angeles, CA 90041
      View Details
    • Contact for pricing

      Functional Warehouse with Office Space

      Secure Los Angeles warehouse with office, ample parking, and freeway access.
      215 W 134th St, Los Angeles, CA 90061
      View Details
    • $3/mo

      Renovated Office Space in Westwood

      Versatile, renovated 698 SF office space with natural light.
      1033 Gayley Ave, Unit 210, Los Angeles, CA 90024
      View Details
    • $1.70/mo

      Whiteside Tech and Manufacturing

      6,000 SF industrial building with functional layout and truck access.
      4228 Whiteside St, Unit 101, Los Angeles, CA 90063
      View Details
    • Contact for pricing

      Remodeled Retail Space in Los Angeles

      Remodeled commercial/retail space with parking in DTLA.
      5250 S Hoover, Los Angeles, CA 90037
      View Details
    • Contact for pricing

      NoHo Arts District Sound Stage

      Freestanding sound stage and post studio facility in NoHo.
      11417 Miranda St, Los Angeles, CA 91601
      View Details

    FAQs

    What type of property is this?
    Creative space - Turnkey creative office space in the heart of Los Angeles.
    Where is this creative space located?
    The property is located at 724 S Spring Los Angeles, CA.
    What are key features of this property?
    This property features: Turnkey Creative Offices; Promotional rate of $0.99 psf for the first six (6) months for three (3) year Lease; In the Heart of Downtown Los Angeles
    (213) 270-2263
    We can help!
    Listing Contact
    Carlos Castillo
    Real Estate License ID: CA #01451618
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!