Hollywood Corner Gas Station
For Sale
Contact for pricing
1309 N La Brea Ave, Los Angeles, CA 90028
Shell gas station with redevelopment potential in prime Hollywood location.
Property Size17,079 SF
Lot Size0.39 Acres
Price / SF$555.95
Days on Market202
Property Features for 1309 N La Brea Ave
General Information
Standard status
Active
Size
17,079 SF
Lot size
0.39 Acres
Property subtype
Business for Sale
Listing Agency:
Realty Investment Advisors
Listed By:
Benjamin Lalezari · License #01987941
Source:
Crexi
Added: Jan 26
Changed: Aug 12
Last Checked: Aug 15 at 4:42AM
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 Realty Investment Advisors
Investment Insights
Based on property information with market context.
Located on a prime signalized corner at La Brea Avenue and Fountain Avenue in the heart of Hollywood/West Hollywood, this Shell-branded gas station offers exceptional visibility, strong ingress/egress, and constant daily traffic in a dense infill location. The property features a modern, turnkey layout suitable for operators and long-term investors, with approximately five years remaining on the fuel contract. Over $1M in recent capital improvements include a fully redeveloped convenience store, new electrical, plumbing, HVAC, roof, façade, and interior build-out, minimizing near-term capital needs. The large 17,079 square foot corner lot is zoned LAC2 and located within the Hollywood CPIO (Corridor 1), providing meaningful future redevelopment upside with enhanced FAR, density, and parking incentives, subject to buyer verification. The property is surrounded by high-end multifamily, entertainment, and employment centers, supporting long-term land value appreciation and multiple exit strategies.
Key Highlights
- Prime signalized corner location at La Brea Ave and Fountain Ave in Hollywood/West Hollywood with exceptional visibility and high traffic.
- Significant future redevelopment potential due to large 17,079 SF lot, LAC2 zoning, and Hollywood CPIO (Corridor 1) incentives.
- Over $1M in recent capital improvements, including a fully redeveloped convenience store and new infrastructure.
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
$462,541
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
4.87%
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%
$9,250,820
$9.3M
Cap Rate 7%
$6,607,729
$6.6M
Cap Rate 9%
$5,139,344
$5.1M
Market Conditions
NOI Build-Up for 17,079 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
$631.2K $36.96/SF
− Vacancy
−$14.5K −$0.85/SF
EGI
$616.7K $36.11/SF
− OpEx
−$154.2K −$9.03/SF
NOI
$462.5K $27.08/SF
Area
Los Angeles, CA
Vacancy
2.30%
Lease Rate
$36.96 /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%
$9,250,820
Cap Rate 7%
$6,607,729
Cap Rate 9%
$5,139,344
Alternative Uses
Best Use
Specialty Retail
$6.61M
$5.78M – $7.71M
NOI $462,541 @ 7.0% cap · market cap 4.87%
Second Best
Retail
$5.66M
$4.95M – $6.61M
NOI $396,355 @ 7.0% cap · market cap 4.17%
Theoretical Best
Multifamily LT 5
$346.01M
$302.76M – $403.68M
NOI $24,220,720 @ 7.0% cap · market cap 255.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 90028, CA
32,330
Population
22,344
Households
1.4
Avg Household Size
36
Median Age
49%
College-Educated
90%
High-School Grad
1.5 sq mi
ZIP Area
21,553
Density / Sq Mi
$59,393
Median Household Income
$45,325
Median Earnings
$1,839
Median Rent
$970,800
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?
Gas station - Shell gas station with redevelopment potential in prime Hollywood location.
Where is this gas station located?
The property is located at 1309 N La Brea Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $9,495,000.
What are key features of this property?
This property features: Prime signalized corner location at La Brea Ave and Fountain Ave in Hollywood/West Hollywood with exceptional visibility and high traffic.; Significant future redevelopment potential due to large 17,079 SF lot, LAC2 zoning, and Hollywood CPIO (Corridor 1) incentives.; Over $1M in recent capital improvements, including a fully redeveloped convenience store and new infrastructure.
