Two-Building Industrial Flex
For Sale
Contact for pricing
1607 S Grand Ave, Los Angeles, CA 90015
Industrial flex property includes two adjacent buildings with office areas, mezzanine space, and ground-level loading.
Property Size20,000 SF
Price / SF$260
Days on Market211
Property Features for 1607 S Grand Ave
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
20
Property subtype
Industrial
Zoning
[HB3-G1-5] [CX3-FA] [CPIO-O]
Lease Type
Modified Gross
Investment Type
Owner/User
Additional Details
Opportunity Zone
Yes
Highway Access
Yes
Sprinkler System
Yes
Amenities
skylights
office areas
mezzanine
ground-level loading
partial sprinkler coverage
Building Details
Year Built
1976
Buildings
2
Stories
1
Tenancy
Single
Construction
bow truss
Listing Agency:
Major Properties
Listed By:
Bradley Luster · License #CA 00913803
(213) 747-4151
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 31 at 10:37PM
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 Major Properties
Investment Insights
Based on property information with market context.
This versatile industrial facility includes two adjacent buildings totaling approximately 20,000 square feet, with a 14,000-square-foot building and a 6,000-square-foot building. The space features bow truss construction, skylights, office areas, and a mezzanine, along with ground-level loading. Partial sprinkler coverage is provided.
The site offers abundant on-site parking for approximately 20 vehicles along the perimeter of the buildings. It is located in Downtown Los Angeles, one block north of the I-10 Freeway, at the southwest corner of Grand Avenue and Venice Boulevard, within a Designated Qualified Opportunity Zone.
Both buildings must be sold and leased together, and the property is offered at 1607 S Grand Ave and 320 Venice Blvd, Los Angeles, CA 90015.
The site offers abundant on-site parking for approximately 20 vehicles along the perimeter of the buildings. It is located in Downtown Los Angeles, one block north of the I-10 Freeway, at the southwest corner of Grand Avenue and Venice Boulevard, within a Designated Qualified Opportunity Zone.
Both buildings must be sold and leased together, and the property is offered at 1607 S Grand Ave and 320 Venice Blvd, Los Angeles, CA 90015.
Key Highlights
- Two adjacent industrial buildings totaling approx. 20,000 SF: 14,000 SF plus 6,000 SF
- Bow truss construction with skylights, office areas, and a mezzanine
- Ground‑level loading and partial sprinkler coverage
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
$301,692
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%
$6,033,840
$6.0M
Cap Rate 7%
$4,309,886
$4.3M
Cap Rate 9%
$3,352,133
$3.4M
Market Conditions
NOI Build-Up for 20,000 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
$379.2K $18.96/SF
− Vacancy
−$24.3K −$1.21/SF
EGI
$354.9K $17.75/SF
− OpEx
−$53.2K −$2.66/SF
NOI
$301.7K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
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%
$6,033,840
Cap Rate 7%
$4,309,886
Cap Rate 9%
$3,352,133
Alternative Uses
Best Use
Warehouse
$4.31M
$3.77M – $5.03M
NOI $301,692 @ 7.0% cap · market cap 5.80%
Second Best
Industrial
$3.55M
$3.11M – $4.14M
NOI $248,452 @ 7.0% cap · market cap 4.78%
Theoretical Best
Multifamily LT 5
$405.19M
$354.54M – $472.72M
NOI $28,363,159 @ 7.0% cap · market cap 545.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,851
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 - Industrial flex property includes two adjacent buildings with office areas, mezzanine space, and ground-level loading.
Where is this flex space located?
The property is located at 1607 S Grand Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Two adjacent industrial buildings totaling approx. 20,000 SF: 14,000 SF plus 6,000 SF; Bow truss construction with skylights, office areas, and a mezzanine; Ground‑level loading and partial sprinkler coverage
