Anchored Retail Strip
For Sale
$8,400,000
1514 S Vermont Ave, Los Angeles, CA 90006
12-unit retail strip center anchored by H&R Block with on-site billboard income and dedicated parking.
Property Size11,715 SF
Lot Size0.51 Acres
Price / SF$717.03
Days on Market90
Property Features for 1514 S Vermont Ave
General Information
Standard status
Active
Size
11,715 SF
Lot size
0.51 Acres
Property subtype
Shopping Strip
Additional Details
Cap Rate
5.12%
Highway Access
Yes
Amenities
Irreplaceable Signalized Corner Location: Commanding presence on a 0.51-acre lot at the highly trafficked intersection of Vermont Ave. and Venice Blvd
National Credit Anchor Tenant: Anchored by household brand H&R Block, ensuring institutional-grade lease stability and steady daily foot traffic
Fully Stabilized Income Stream: The 11,715 SF center features 12 highly functional retail bays, maintaining consistent occupancy and diversified tenant risk
Unrivaled Regional Freeway Access: Strategic mid-city positioning provides immediate, effortless connections to the I-10, US-101, and CA-110 Freeways
A generous half-acre parcel offers ample dedicated on-site parking—an exceptionally scarce asset in the Koreatown submarket
Rare opportunity to collect dependable commercial cash flow today while leveraging a prime urban footprint for future high-density redevelopment
Building Details
Building Size
11,715 SF
Year Built
1988
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
Listed By:
William Kim · License #License(s): CA: 01344741, TX: 755628, NV: S.0204443
(972) 755-5283
Source:
Marcusmillichap
Added: Jun 9
Changed: Aug 21
Last Checked: Sep 5 at 3:55AM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Built in 1988, the property is a 12-unit retail strip center comprising an 11,715 SF building on a 0.51-acre lot. The building is divided into 11 retail bays, along with one income-generating billboard tenant. Dedicated parking is provided on-site, supported by the generous lot size.
The center is located at the premier signalized intersection of S. Vermont Avenue and Venice Boulevard, positioned on a highly visible hard corner. The property also benefits from regional accessibility due to its proximity to I-10 (Santa Monica Freeway), US-101 (Hollywood Freeway), and CA-110 (Harbor Freeway).
With H&R Block as the anchor national credit tenant, the asset is structured to support a relatively secure, stabilized retail profile while maintaining long-term flexibility for future site utilization. The combination of multiple retail bays, billboard income, and on-site parking can support a range of retail operators, and the land area is a key consideration for buyers evaluating longer-horizon redevelopment strategies.
The center is located at the premier signalized intersection of S. Vermont Avenue and Venice Boulevard, positioned on a highly visible hard corner. The property also benefits from regional accessibility due to its proximity to I-10 (Santa Monica Freeway), US-101 (Hollywood Freeway), and CA-110 (Harbor Freeway).
With H&R Block as the anchor national credit tenant, the asset is structured to support a relatively secure, stabilized retail profile while maintaining long-term flexibility for future site utilization. The combination of multiple retail bays, billboard income, and on-site parking can support a range of retail operators, and the land area is a key consideration for buyers evaluating longer-horizon redevelopment strategies.
Key Highlights
- 1988‑built 11,715 SF 12‑unit retail strip center on a 0.51‑acre lot with dedicated on‑site parking
- Anchored by national credit tenant H&R Block for stable tenancy
- Property includes one income‑generating billboard tenant in addition to 11 retail bays
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
$271,872
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
3.24%
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%
$5,437,440
$5.4M
Cap Rate 7%
$3,883,886
$3.9M
Cap Rate 9%
$3,020,800
$3.0M
Market Conditions
NOI Build-Up for 11,715 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
$433.0K $36.96/SF
− Vacancy
−$44.6K −$3.81/SF
EGI
$388.4K $33.15/SF
− OpEx
−$116.5K −$9.95/SF
NOI
$271.9K $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%
$5,437,440
Cap Rate 7%
$3,883,886
Cap Rate 9%
$3,020,800
Alternative Uses
Best Use
Retail
$3.88M
$3.40M – $4.53M
NOI $271,872 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$237.34M
$207.67M – $276.90M
NOI $16,613,721 @ 7.0% cap · market cap 197.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,774
Businesses Nearby
Explore this area
Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - 12-unit retail strip center anchored by H&R Block with on-site billboard income and dedicated parking.
Where is this strip mall located?
The property is located at 1514 S Vermont Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $8,400,000.
What are key features of this property?
This property features: 1988‑built 11,715 SF 12‑unit retail strip center on a 0.51‑acre lot with dedicated on‑site parking; Anchored by national credit tenant H&R Block for stable tenancy; Property includes one income‑generating billboard tenant in addition to 11 retail bays
