Freestanding Commercial Building with Street
For Sale
$700,000
690 W 18th St, San Pedro, CA 90731
Freestanding commercial building on a highly traveled corridor with LAC2 zoning, on-site parking, alley access, and flexible interior layout.
Property Size912 SF
Lot Size0.11 Acres
Price / SF$767.54
Days on Market45
Property Features for 690 W 18th St
General Information
Standard status
Active
Size
912 SF
Lot size
0.11 Acres
Property subtype
Commercial
Zoning
LAC2
Additional Details
Road Access
Yes
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Strand Hill Properties
(310) 984-4608
Listed By:
Jake Sullivan · License #01970185
(310) 984-4608
Source:
Elliman
Added: Jun 23
Changed: Jul 10
Last Checked: Aug 6 at 7:52AM
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 Strand Hill Properties
Investment Insights
Based on property information with market context.
This freestanding commercial property is configured with a reception/lobby area, three private offices, a conference room, storage room, kitchenette, bathroom, and a private balcony. The building also includes a detached garage, on-site parking, and alley access, all set on a 5,000 square foot lot. Current setup supports multiple use scenarios, including professional, medical, retail, creative, counseling, educational, service-based, and food-related concepts, subject to buyer verification of permitted uses.
The property is positioned along a primary commercial corridor with prominent street frontage and significant daily traffic exposure. It is zoned LAC2 and fronts Gaffey Street. The site is currently generating $3,285 per month in gross income from two month-to-month occupants, with one tenant occupying the building and a separate food truck operator using a portion of the property.
For investors and owner-users, the combination of existing income and a flexible site configuration can support near-term occupancy while preserving longer-term options under the site’s LAC2 zoning. The location is described as minutes from Downtown San Pedro, the Port of Los Angeles, and the West Harbor waterfront development. Buyer to independently verify zoning, square footage, income, tenancy arrangements, permitted uses, and all property information.
The property is positioned along a primary commercial corridor with prominent street frontage and significant daily traffic exposure. It is zoned LAC2 and fronts Gaffey Street. The site is currently generating $3,285 per month in gross income from two month-to-month occupants, with one tenant occupying the building and a separate food truck operator using a portion of the property.
For investors and owner-users, the combination of existing income and a flexible site configuration can support near-term occupancy while preserving longer-term options under the site’s LAC2 zoning. The location is described as minutes from Downtown San Pedro, the Port of Los Angeles, and the West Harbor waterfront development. Buyer to independently verify zoning, square footage, income, tenancy arrangements, permitted uses, and all property information.
Key Highlights
- Freestanding commercial property built in 1920 on a 5,000 SF lot with alley access and prominent street frontage on Gaffey St.
- 912 SF commercial building with reception/lobby, three private offices, conference room, storage, kitchenette, bathroom, and private balcony.
- Currently generating $3,285/month gross income from two month‑to‑month occupants (one tenant plus a separate food truck operator using part of the property).
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
$21,647
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
3.09%
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%
$432,940
$432.9K
Cap Rate 7%
$309,243
$309.2K
Cap Rate 9%
$240,522
$240.5K
Market Conditions
NOI Build-Up for 912 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
$35.5K $38.88/SF
− Vacancy
−$6.6K −$7.23/SF
EGI
$28.9K $31.65/SF
− OpEx
−$7.2K −$7.91/SF
NOI
$21.6K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$432,940
Cap Rate 7%
$309,243
Cap Rate 9%
$240,522
Alternative Uses
Best Use
Office B
$309.2K
$270.6K – $360.8K
NOI $21,647 @ 7.0% cap · market cap 3.09%
Second Best
Healthcare Medical
$241.6K
$211.4K – $281.9K
NOI $16,915 @ 7.0% cap · market cap 2.42%
Theoretical Best
Multifamily LT 5
$18.48M
$16.17M – $21.56M
NOI $1,293,360 @ 7.0% cap · market cap 184.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 90731, CA
61,270
Population
24,477
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
6,588
Density / Sq Mi
$71,936
Median Household Income
$41,324
Median Earnings
$1,645
Median Rent
$808,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Freestanding commercial building on a highly traveled corridor with LAC2 zoning, on-site parking, alley access, and flexible interior layout.
Where is this office units located?
The property is located at 690 W 18th St San Pedro, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Freestanding commercial property built in 1920 on a 5,000 SF lot with alley access and prominent street frontage on Gaffey St.; 912 SF commercial building with reception/lobby, three private offices, conference room, storage, kitchenette, bathroom, and private balcony.; Currently generating $3,285/month gross income from two month‑to‑month occupants (one tenant plus a separate food truck operator using part of the property).
