Flex Space with
For Sale
Contact for pricing
1506 S Los Angeles St, Los Angeles, CA 90015
Front showroom pairs with rear warehouse, parking, and loading access.
Property Size10,000 SF
Price / SF$400
Days on Market168
Property Features for 1506 S Los Angeles St
General Information
Standard status
Active
Size
10,000 SF
Property subtype
INDUSTRIAL
Listing Agency:
Magic Properties, Inc.
(213) 321-3935
Listed By:
Nathan Yoon
(213) 321-3935
Source:
Moodyscre
Added: Mar 16
Changed: Aug 29
Last Checked: Aug 29 at 11:27PM
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 Magic Properties, Inc.
Investment Insights
Based on property information with market context.
This 10,000-square-foot flex space combines a clothing wholesale showroom and store with warehouse space in the rear. The configuration separates customer-facing areas from storage and distribution functions, while rear parking and loading support daily operations.
Located at 1506 S Los Angeles St in Los Angeles, the property is positioned 2 blocks north of the 10 Freeway. The existing showroom, retail, warehouse, parking, and loading components create a practical setup for wholesale or showroom-oriented commercial use.
Located at 1506 S Los Angeles St in Los Angeles, the property is positioned 2 blocks north of the 10 Freeway. The existing showroom, retail, warehouse, parking, and loading components create a practical setup for wholesale or showroom-oriented commercial use.
Key Highlights
- 10,000‑square‑foot flex space
- Front showroom and store with rear warehouse area
- Existing clothing wholesale showroom and store
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
$232,072
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
5.80%
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%
$4,641,440
$4.6M
Cap Rate 7%
$3,315,314
$3.3M
Cap Rate 9%
$2,578,578
$2.6M
Market Conditions
NOI Build-Up for 10,000 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
$369.6K $36.96/SF
− Vacancy
−$38.1K −$3.81/SF
EGI
$331.5K $33.15/SF
− OpEx
−$99.5K −$9.95/SF
NOI
$232.1K $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%
$4,641,440
Cap Rate 7%
$3,315,314
Cap Rate 9%
$2,578,578
Alternative Uses
Best Use
Retail
$3.32M
$2.90M – $3.87M
NOI $232,072 @ 7.0% cap · market cap 5.80%
Second Best
Warehouse
$2.15M
$1.89M – $2.51M
NOI $150,846 @ 7.0% cap · market cap 3.77%
Theoretical Best
Multifamily LT 5
$202.59M
$177.27M – $236.36M
NOI $14,181,580 @ 7.0% cap · market cap 354.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
10,941
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90015, CA
27,324
Population
14,635
Households
1.9
Avg Household Size
34
Median Age
48%
College-Educated
79%
High-School Grad
1.7 sq mi
ZIP Area
16,073
Density / Sq Mi
$63,211
Median Household Income
$47,819
Median Earnings
$2,385
Median Rent
$1,000,800
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Front showroom pairs with rear warehouse, parking, and loading access.
Where is this flex space located?
The property is located at 1506 S Los Angeles St Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 10,000‑square‑foot flex space; Front showroom and store with rear warehouse area; Existing clothing wholesale showroom and store
