Leased Koreatown Storefront
New
For Sale
$2,190,000
1508 S Vermont, Los Angeles, CA 90006
Fully leased retail asset positioned within Los Angeles’s Koreatown and Mid-Wilshire commercial district.
Property Size3,334 SF
Days on Market3
Property Features for 1508 S Vermont
General Information
Standard status
Active
Size
3,334 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Building Size
3,334 SF
Year Built
1956
Units
6
Tenancy
Multi
Listing Agency:
(818) 450-9704
Listed By:
Marlene Cagatao · License #01034163
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 6:52AM
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 Marlene Cagatao
Investment Insights
Based on property information with market context.
This storefront property is fully leased and dates to 1956. The asset is positioned for retail use within a commercially active portion of Los Angeles, with the property information identifying both Koreatown and the broader Mid-Wilshire area. The address is 1508 S Vermont, Los Angeles, CA 90006.
Transportation access is supported by strong pedestrian, bicycle, and transit ratings. The property carries a Walk Score of 92, a Bike Score of 78, and a Transit Score of 100, providing clear context for its urban setting and connectivity. Additional permitting and unit details are not included here because the source information presents conflicting descriptions.
Transportation access is supported by strong pedestrian, bicycle, and transit ratings. The property carries a Walk Score of 92, a Bike Score of 78, and a Transit Score of 100, providing clear context for its urban setting and connectivity. Additional permitting and unit details are not included here because the source information presents conflicting descriptions.
Key Highlights
- Fully leased storefront property
- Located at 1508 S Vermont, Los Angeles, CA 90006
- Situated in Koreatown within the Mid‑Wilshire area
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
$77,373
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
3.53%
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%
$1,547,460
$1.5M
Cap Rate 7%
$1,105,329
$1.1M
Cap Rate 9%
$859,700
$859.7K
Market Conditions
NOI Build-Up for 3,334 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
$123.2K $36.96/SF
− Vacancy
−$12.7K −$3.81/SF
EGI
$110.5K $33.15/SF
− OpEx
−$33.2K −$9.95/SF
NOI
$77.4K $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%
$1,547,460
Cap Rate 7%
$1,105,329
Cap Rate 9%
$859,700
Alternative Uses
Best Use
Retail
$1.11M
$967.2K – $1.29M
NOI $77,373 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$67.54M
$59.10M – $78.80M
NOI $4,728,139 @ 7.0% cap · market cap 215.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,057
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
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?
Storefront property - Fully leased retail asset positioned within Los Angeles’s Koreatown and Mid-Wilshire commercial district.
Where is this storefront property located?
The property is located at 1508 S Vermont Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: Fully leased storefront property; Located at 1508 S Vermont, Los Angeles, CA 90006; Situated in Koreatown within the Mid‑Wilshire area
