Mixed-Use Corner Retail
For Sale
$1,495,000
2403 1ST Street, Los Angeles, CA 90033
Corner commercial property with an auto body shop, salon, and two vacant retail units, including a restaurant space.
Property Size5,572 SF
Price / SF$268.31
Days on Market2709
Property Features for 2403 1ST Street
General Information
Standard status
Active
Size
5,572 SF
Property subtype
General Commercial
Amenities
3
LAC2
Corner Lot.
Corner.
Building Details
Year Built
1924
Listing Agency:
The Core Agency
(818) 723-0816
Listed By:
Moises Arroyo · License #01853838
Source:
Xome
Added: Apr 7, 2019
Changed: Sep 1
Last Checked: Sep 5 at 6:10AM
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 The Core Agency
Investment Insights
Based on property information with market context.
This corner commercial property includes an auto body business, a salon, and two additional vacant retail spaces. One vacant unit has previously operated as a check cashing store, and the other is a vacant restaurant space.
The property is located at 2403 1ST Street, Los Angeles, CA 90033.
Offered for sale, the mix of occupied and vacant units provides a straightforward setup for investors and redevelopment-focused buyers seeking flexibility within a single corner asset.
The property is located at 2403 1ST Street, Los Angeles, CA 90033.
Offered for sale, the mix of occupied and vacant units provides a straightforward setup for investors and redevelopment-focused buyers seeking flexibility within a single corner asset.
Key Highlights
- Corner commercial property with an auto body shop, salon, and restaurant space
- Includes two vacant retail units (one previously a check cashing store)
- Guest facilities: 3
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
$129,310
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
8.65%
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%
$2,586,200
$2.6M
Cap Rate 7%
$1,847,286
$1.8M
Cap Rate 9%
$1,436,778
$1.4M
Market Conditions
NOI Build-Up for 5,572 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
$205.9K $36.96/SF
− Vacancy
−$21.2K −$3.81/SF
EGI
$184.7K $33.15/SF
− OpEx
−$55.4K −$9.95/SF
NOI
$129.3K $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%
$2,586,200
Cap Rate 7%
$1,847,286
Cap Rate 9%
$1,436,778
Alternative Uses
Best Use
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $150,903 @ 7.0% cap · market cap 10.09%
Second Best
Retail
$1.85M
$1.62M – $2.16M
NOI $129,310 @ 7.0% cap · market cap 8.65%
Theoretical Best
Multifamily LT 5
$112.89M
$98.77M – $131.70M
NOI $7,901,976 @ 7.0% cap · market cap 528.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,296
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90033, CA
46,081
Population
13,874
Households
3.3
Avg Household Size
32
Median Age
14%
College-Educated
54%
High-School Grad
3.3 sq mi
ZIP Area
13,964
Density / Sq Mi
$56,001
Median Household Income
$29,600
Median Earnings
$1,391
Median Rent
$669,500
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.
Similar Off Market Nearby
- Llantera Soto Inc — 976 S Boyle Ave, Los Angeles, CA 90023
- Gosen Auto Body Parts — 2226 Whittier Blvd, Los Angeles, CA 90023
- Pepe's Towing Service — 918 S Boyle Ave, Los Angeles, CA 90023
- Rico´s Tires Auto Repair — 2307 Whittier Blvd, Los Angeles, CA 90023
- Ekonomic Transmissions — 2307 Whittier Blvd, Los Angeles, CA 90023
Frequently Asked Questions
What type of property is this?
Auto shop - Corner commercial property with an auto body shop, salon, and two vacant retail units, including a restaurant space.
Where is this auto shop located?
The property is located at 2403 1ST Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Corner commercial property with an auto body shop, salon, and restaurant space; Includes two vacant retail units (one previously a check cashing store); Guest facilities: 3
