Neighborhood Retail Center with Hard
For Sale
$4,600,000
17851 Chatsworth, Los Angeles, CA 91344
Neighborhood retail center anchored by professional tenants, featuring 27 parking spaces and a highly visible end-cap suite.
Property Size8,520 SF
Days on Market51
Property Features for 17851 Chatsworth
General Information
Standard status
Active
Size
8,520 SF
Total Parking Spaces
27
Property subtype
Commercial
Additional Details
Traffic Count
43,000 vehicles/day
Building Details
Building Size
8,520 SF
Year Built
1955
Listing Agency:
Apex Properties
Listed By:
Christopher Comfort · License #01407997
(424) 293-8085
Source:
Elliman
Added: Jul 19
Changed: Sep 3
Last Checked: Sep 7 at 10:05AM
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 featuring a vacant end-cap suite with strong frontage and visibility. A portion of the gross leasable area is currently vacant, and the remaining spaces are occupied on month-to-month terms. Ownership has maintained the property in excellent condition with no deferred maintenance.
The center is situated at a highly visible hard-corner location on a major signalized intersection, with traffic counts exceeding 43,000 vehicles per day. The site includes 27 on-site parking spaces and is anchored by established professional tenants, including a dentist, optometrist, and Edward Jones.
Bike score is 69 and walk score is 59, with transit score listed at 41, supporting accessibility for neighborhood customers.
The center is situated at a highly visible hard-corner location on a major signalized intersection, with traffic counts exceeding 43,000 vehicles per day. The site includes 27 on-site parking spaces and is anchored by established professional tenants, including a dentist, optometrist, and Edward Jones.
Bike score is 69 and walk score is 59, with transit score listed at 41, supporting accessibility for neighborhood customers.
Key Highlights
- Well‑maintained neighborhood retail center at 17851 Chatsworth Street in Granada Hills, CA (built 1955).
- Highly visible hard‑corner location at a major signalized intersection with traffic counts over 43,000 vehicles per day.
- End‑cap suite with frontage and visibility, available for an owner‑user or new tenant.
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
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
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 Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Neighborhood retail center anchored by professional tenants, featuring 27 parking spaces and a highly visible end-cap suite.
Where is this shopping center located?
The property is located at 17851 Chatsworth Los Angeles, 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: Well‑maintained neighborhood retail center at 17851 Chatsworth Street in Granada Hills, CA (built 1955).; Highly visible hard‑corner location at a major signalized intersection with traffic counts over 43,000 vehicles per day.; End‑cap suite with frontage and visibility, available for an owner‑user or new tenant.
