Retail Storefront in Sherman
For Sale
$899,998
21627 Sherman Way, Los Angeles, CA 91303
Retail storefront in high-traffic area, ideal for owner-user.
Property Size1,500 SF
Price / SF$599
Days on Market131
Property Features for 21627 Sherman Way
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Building Details
Building Size
1,500 SF
Year Built
1941
Listing Agency:
Rodeo Realty
(818) 326-0945
Listed By:
Jesse James Johnston · License #01732745
Source:
Elliman
Added: Apr 24
Changed: Aug 19
Last Checked: Aug 30 at 8:10PM
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 Rodeo Realty
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a ±1,500 SF retail storefront in the Sherman Corridor (Canoga Park Parts District) of Downtown Canoga Park. The property is ideal for an owner-user seeking long-term occupancy and stability in a high traffic-visibility neighborhood commercial corridor. Currently operating as a barber shop, the property is well suited for a salon, medical, boutique, Yoga / workout studio, café or comedy club. Recent capital improvements significantly reduce near-term maintenance exposure, making this a turnkey opportunity for immediate occupancy. The property has four on-site parking spaces, a fully fenced lot with front roll-down security gate, and an ADA-compliant access ramp. It features a new roof (2022), a new HVAC system (2022), updated electrical & plumbing (2020), a tankless water heater, polished concrete floors, exposed brick, and custom woodwork. The property is currently in a designated IRS Opportunity Zone for QOF’s and within the local JEDI Zone allowing for small business incentives to include accessible loans up to $50,000. The location has a bike score of 85, a walk score of 84, and a transit score of 56.
Key Highlights
- Rare owner‑user opportunity in a high traffic‑visibility location.
- Eligible for SBA 504 financing with as little as ~10% down.
- Located in an IRS Opportunity Zone and a local JEDI Zone.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,811
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$696,220
$696.2K
Cap Rate 7%
$497,300
$497.3K
Cap Rate 9%
$386,789
$386.8K
Market Conditions
NOI Build-Up for 1,500 SF
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.
Gross rent
$55.4K $36.96/SF
− Vacancy
−$5.7K −$3.81/SF
EGI
$49.7K $33.15/SF
− OpEx
−$14.9K −$9.95/SF
NOI
$34.8K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$696,220
Cap Rate 7%
$497,300
Cap Rate 9%
$386,789
Alternative Uses
Best Use
Retail
$497.3K
$435.1K – $580.2K
NOI $34,811 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.39M
$26.59M – $35.45M
NOI $2,127,237 @ 7.0% cap · market cap 236.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
87k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 53%
Dining 23%
Shops & Services 21%
Electronics 3%
Vallarta Supermarket
Groceries
46,304 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,104 visits/mo
0.5 miles
Del Taco
Dining
7,367 visits/mo
0.5 miles
Kwik Stop
Shops & Services
7,050 visits/mo
0.1 miles
KFC
Dining
5,296 visits/mo
0.5 miles
Demographics for 91303, CA
28,457
Population
11,073
Households
2.6
Avg Household Size
34
Median Age
25%
College-Educated
77%
High-School Grad
2.1 sq mi
ZIP Area
13,551
Density / Sq Mi
$76,051
Median Household Income
$35,649
Median Earnings
$1,983
Median Rent
$645,300
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail storefront in high-traffic area, ideal for owner-user.
Where is this storefront property located?
The property is located at 21627 Sherman Way Los Angeles, CA.
What is the asking price?
The asking price for this property is $899,998.
What are key features of this property?
This property features: Rare owner‑user opportunity in a high traffic‑visibility location.; Eligible for SBA 504 financing with as little as ~10% down.; Located in an IRS Opportunity Zone and a local JEDI Zone.
