Flexible Industrial Space with
New
For Sale
$12,900,000
1701-1721 North Main Street, Los Angeles, CA 90012
Adaptable industrial space with office areas and potential for subdivision into multiple units.
Property Size55,250 SF
Days on Market3
Property Features for 1701-1721 North Main Street
General Information
Standard status
Active
Size
55,250 SF
Total Parking Spaces
12
Property subtype
Industrial
Building Details
Building Size
55,250 SF
Listing Agency:
Lee & Associates
Listed By:
Evan Jurgensen · License #CalDRE #01967347
(626) 786-7430
Source:
Lee-associates
Added: Sep 5
Last Checked: Sep 7 at 4:49AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This flexible industrial property at 1701-1721 North Main Street includes office areas and is described as divisible into as many as 8 units. Clear heights range from 12 feet to 13 feet, supporting a range of industrial and warehouse configurations. The property is associated with the GASP area and includes access to 12 parking spaces located in a city parking lot.
The site is adjacent to the LA River and is minutes from Majordomo Apolheke and LA Historic Park. Its multi-unit layout and existing office component provide a practical foundation for an owner-user or investor evaluating flexible commercial space. Buyers and tenants should independently verify building and land area, permitted office size, power, sprinkler calculations, zoning, permitted uses, parking, access, condition, and other property characteristics.
The site is adjacent to the LA River and is minutes from Majordomo Apolheke and LA Historic Park. Its multi-unit layout and existing office component provide a practical foundation for an owner-user or investor evaluating flexible commercial space. Buyers and tenants should independently verify building and land area, permitted office size, power, sprinkler calculations, zoning, permitted uses, parking, access, condition, and other property characteristics.
Key Highlights
- Divisible into 8 units
- 12‑foot to 13‑foot clear heights
- Office areas included within the property
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
$833,423
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
6.46%
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%
$16,668,460
$16.7M
Cap Rate 7%
$11,906,043
$11.9M
Cap Rate 9%
$9,260,256
$9.3M
Market Conditions
NOI Build-Up for 55,250 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
$1.05M $18.96/SF
− Vacancy
−$67.0K −$1.21/SF
EGI
$980.5K $17.75/SF
− OpEx
−$147.1K −$2.66/SF
NOI
$833.4K $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%
$16,668,460
Cap Rate 7%
$11,906,043
Cap Rate 9%
$9,260,256
Alternative Uses
Best Use
Warehouse
$11.91M
$10.42M – $13.89M
NOI $833,423 @ 7.0% cap · market cap 6.46%
Second Best
Industrial
$9.80M
$8.58M – $11.44M
NOI $686,348 @ 7.0% cap · market cap 5.32%
Theoretical Best
Multifamily LT 5
$1,119.33M
$979.42M – $1,305.89M
NOI $78,353,228 @ 7.0% cap · market cap 607.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,670
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90012, CA
33,851
Population
16,541
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
77%
High-School Grad
3.6 sq mi
ZIP Area
9,403
Density / Sq Mi
$67,635
Median Household Income
$44,901
Median Earnings
$2,116
Median Rent
$686,400
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 - Adaptable industrial space with office areas and potential for subdivision into multiple units.
Where is this flex space located?
The property is located at 1701-1721 North Main Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $12,900,000.
What are key features of this property?
This property features: Divisible into 8 units; 12‑foot to 13‑foot clear heights; Office areas included within the property
