Commercial Storefront
For Sale
Contact for pricing
16119 Sherman Way, Los Angeles, CA 91406
Commercial storefront with LAC2 zoning and potential for retail, office, showroom, or service use subject to approval.
Property Size5,281 SF
Price / SF$397.65
Days on Market158
Property Features for 16119 Sherman Way
General Information
Standard status
Active
Size
5,281 SF
Property subtype
Retail
Zoning
LAC2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1954
Buildings
1
Stories
2
Listing Agency:
IKON Properties
(818) 246-1099
Listed By:
Blas Fernandez · License #CA 02012036
Source:
Crexi
Added: Mar 26
Changed: Aug 29
Last Checked: Aug 29 at 10:39PM
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 IKON Properties
Investment Insights
Based on property information with market context.
This commercial storefront property contains 5,281 square feet and was built in 1954. The zoning designation is LAC2. The property information identifies potential applications including retail, office, showroom, and service-oriented uses, subject to applicable zoning and city approval.
Located along Sherman Way, the property sits within an established commercial setting near residential neighborhoods and other businesses. The corridor provides street exposure and access to major thoroughfares and freeway connections, supporting customer and operator access. Its infill setting and daytime activity offer a practical platform for an owner-user or investor seeking a commercial property with multiple potential use directions, subject to verification and approvals.
Located along Sherman Way, the property sits within an established commercial setting near residential neighborhoods and other businesses. The corridor provides street exposure and access to major thoroughfares and freeway connections, supporting customer and operator access. Its infill setting and daytime activity offer a practical platform for an owner-user or investor seeking a commercial property with multiple potential use directions, subject to verification and approvals.
Key Highlights
- 5,281‑square‑foot commercial storefront property
- LAC2 zoning designation
- Built in 1954
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
$122,557
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
5.84%
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%
$2,451,140
$2.5M
Cap Rate 7%
$1,750,814
$1.8M
Cap Rate 9%
$1,361,744
$1.4M
Market Conditions
NOI Build-Up for 5,281 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
$195.2K $36.96/SF
− Vacancy
−$20.1K −$3.81/SF
EGI
$175.1K $33.15/SF
− OpEx
−$52.5K −$9.95/SF
NOI
$122.6K $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%
$2,451,140
Cap Rate 7%
$1,750,814
Cap Rate 9%
$1,361,744
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.04M
NOI $122,557 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$106.99M
$93.62M – $124.82M
NOI $7,489,292 @ 7.0% cap · market cap 356.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
29k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 34%
Home Improvements & Furnishings 10%
Wendy's
Dining
12,225 visits/mo
0.0 miles
76
Shops & Services
8,638 visits/mo
0.1 miles
Pizza Hut
Dining
3,889 visits/mo
0.5 miles
Visiting Angels
Home Improvements & Furnishings
2,968 visits/mo
0.2 miles
FedEx Office Print & Ship Center
Shops & Services
1,089 visits/mo
0.5 miles
Demographics for 91406, CA
53,252
Population
19,650
Households
2.7
Avg Household Size
37
Median Age
29%
College-Educated
77%
High-School Grad
8.1 sq mi
ZIP Area
6,574
Density / Sq Mi
$76,653
Median Household Income
$41,469
Median Earnings
$1,859
Median Rent
$765,000
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 - Commercial storefront with LAC2 zoning and potential for retail, office, showroom, or service use subject to approval.
Where is this storefront property located?
The property is located at 16119 Sherman Way Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 5,281‑square‑foot commercial storefront property; LAC2 zoning designation; Built in 1954
