Neighborhood Retail Center With
For Sale
$4,600,000
17851 Chatsworth, Granada Hills, CA 91344
Well-maintained neighborhood retail center at a signalized corner intersection with an endcap suite and 27 on-site parking spaces.
Property Size8,520 SF
Days on Market38
Property Features for 17851 Chatsworth
General Information
Standard status
Active
Size
8,520 SF
Total Parking Spaces
27
Property subtype
Retail
Site & Location
Traffic Count
43,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
8,520 SF
Year Built
1955
Tenancy
Multi
Listing Agency:
Apex Properties
Listed By:
Christopher Comfort · License #01407997
Source:
Archetyperealty
Added: Jul 17
Changed: Aug 23
Last Checked: Aug 21 at 5:06AM
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 Apex Properties
Investment Insights
Based on property information with market context.
The subject property is a well-maintained neighborhood retail center anchored by professional tenants, including a dentist, optometrist, and Edward Jones. The center includes an end-cap suite with strong street frontage and visibility, and approximately 60% of the gross leasable area is currently vacant or on month-to-month occupancy.
Located at 17851 Chatsworth Street in Granada Hills, California, the property benefits from a highly visible hard-corner position at a major signalized intersection. The remarks indicate traffic counts exceeding 43,000 vehicles per day, supporting exposure to both vehicular and pedestrian traffic. The center offers 27 on-site parking spaces.
Ownership has maintained the property in excellent condition with no deferred maintenance identified in the provided information. The current mix of stabilized professional tenancy and available suites presents an owner-user or leasing-focused opportunity to drive occupancy.
Located at 17851 Chatsworth Street in Granada Hills, California, the property benefits from a highly visible hard-corner position at a major signalized intersection. The remarks indicate traffic counts exceeding 43,000 vehicles per day, supporting exposure to both vehicular and pedestrian traffic. The center offers 27 on-site parking spaces.
Ownership has maintained the property in excellent condition with no deferred maintenance identified in the provided information. The current mix of stabilized professional tenancy and available suites presents an owner-user or leasing-focused opportunity to drive occupancy.
Key Highlights
- Neighborhood retail center built in 2000 at 17851 Chatsworth Street, Granada Hills.
- Hard‑corner, signalized intersection location with traffic counts exceeding 43,000 vehicles per day.
- 27 on‑site parking spaces to support customer access.
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
$197,725
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
4.30%
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%
$3,954,500
$4.0M
Cap Rate 7%
$2,824,643
$2.8M
Cap Rate 9%
$2,196,944
$2.2M
Market Conditions
NOI Build-Up for 8,520 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
$314.9K $36.96/SF
− Vacancy
−$32.4K −$3.81/SF
EGI
$282.5K $33.15/SF
− OpEx
−$84.7K −$9.95/SF
NOI
$197.7K $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%
$3,954,500
Cap Rate 7%
$2,824,643
Cap Rate 9%
$2,196,944
Alternative Uses
Best Use
Retail
$2.82M
$2.47M – $3.30M
NOI $197,725 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$172.61M
$151.03M – $201.38M
NOI $12,082,706 @ 7.0% cap · market cap 262.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
43,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
McDonald's
Dining
30,334 visits/mo
0.5 miles
Starbucks
Dining
16,707 visits/mo
0.5 miles
SUBWAY
Dining
538 visits/mo
0.5 miles
Demographics for 91344, CA
52,481
Population
18,424
Households
2.8
Avg Household Size
43
Median Age
37%
College-Educated
88%
High-School Grad
14.5 sq mi
ZIP Area
3,619
Density / Sq Mi
$116,647
Median Household Income
$57,857
Median Earnings
$2,276
Median Rent
$872,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
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- Knollwood Plaza — Granada Hills, CA 91344
Frequently Asked Questions
What type of property is this?
Shopping center - Well-maintained neighborhood retail center at a signalized corner intersection with an endcap suite and 27 on-site parking spaces.
Where is this shopping center located?
The property is located at 17851 Chatsworth Granada Hills, CA.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: Neighborhood retail center built in 2000 at 17851 Chatsworth Street, Granada Hills.; Hard‑corner, signalized intersection location with traffic counts exceeding 43,000 vehicles per day.; 27 on‑site parking spaces to support customer access.
