Building Details

Buildings 1

Listing Agency: The Blackmar Group Show Phone

Listed By: Mark Zakarian, CCIM · License #01992638 Show Phone

Source: Moodyscre

Added: Mar 5, 2024 Changed: Oct 10 Last Checked: Oct 10 at 2:41AM

Report an Issue

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 Blackmar Group

Investment Insights

Based on property information with market context.

This freestanding flex property includes 9,400 square feet of office space and a contractor yard. Building features include 2 DH doors, 1 GL door, clear heights ranging from 14 to 24 feet, and 600 amps of electrical service.

Key Highlights

• 9,400 SF of office space
• Contractor yard
• 2 DH doors and 1 GL door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$226,837

Cap Rate

8.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,536,740 $4.5M

Cap Rate 7%

$3,240,529 $3.2M

Cap Rate 9%

$2,520,411 $2.5M

Market Conditions

NOI Build-Up for 18,260 SF

Gross rent

$346.2K $18.96/SF

− Vacancy

−$22.2K −$1.21/SF

EGI

$324.1K $17.75/SF

− OpEx

−$97.2K −$5.32/SF

NOI

$226.8K $12.42/SF

Area

Los Angeles, CA

Vacancy

6.40%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,536,740

Cap Rate 7%

$3,240,529

Cap Rate 9%

$2,520,411

Alternative Uses

Best Use

Warehouse

$3.93M

$3.44M – $4.59M (±1% cap)

NOI $275,444 @ 7.0% cap · market cap 10.65%

Second Best

Industrial

$3.24M

$2.84M – $3.78M (±1% cap)

NOI $226,837 @ 7.0% cap · market cap 8.77%

Theoretical Best

Multifamily LT 5

$369.94M

$323.69M – $431.59M (±1% cap)

NOI $25,895,565 @ 7.0% cap · market cap 1,000.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Yahtzee Community College College AOO Events Event Planning Panache Designes Factory Interior Design Bill Maxwell Furniture Production Facility

Suggested Use

Top Pick Real Estate Agency Law Firm Kitchen & Bath Showroom Computer & Electronic Repair HVAC Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24 ft

Clear height

2

Dock-high doors

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

4,068

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 90031, CA

37,333

Population

12,686

Households

2.9

Avg Household Size

37

Median Age

24%

College-Educated

66%

High-School Grad

3.5 sq mi

ZIP Area

10,667

Density / Sq Mi

$62,119

Median Household Income

$34,356

Median Earnings

$1,487

Median Rent

$758,500

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Curated Spread — 3317 N Mission Rd, Los Angeles, CA 90031
• Rashanco Oven & Grill — 3317 N Mission Rd #25, Los Angeles, CA 90031

Frequently Asked Questions

What type of property is this?

Flex space - The freestanding property combines office space with a contractor yard and loading access.

Where is this flex space located?

The property is located at 1773 Sichel St Lincoln Heights, CA.

What is the asking price?

The asking price for this property is $2,587,000.

What are key features of this property?

This property features: 9,400 SF of office space; Contractor yard; 2 DH doors and 1 GL door