3-Unit Retail Storefront
For Sale
$2,300,000
18446 18452 Sherman Way, Los Angeles, CA 91335
Fully leased three-unit retail storefront with rear alley access, on-site parking, and a rooftop billboard at 18446–18452 Sherman Way.
Property Size8,967 SF
Days on Market65
Property Features for 18446 18452 Sherman Way
General Information
Standard status
Active
Size
8,967 SF
Total Parking Spaces
10
Property subtype
Commercial
Building Details
Building Size
8,967 SF
Year Built
1949
Listing Agency:
(818) 432-3271
Listed By:
Anna Ambarian
(818) 432-3271
Source:
Elliman
Added: Jun 4
Changed: Aug 7
Last Checked: Aug 7 at 2:15AM
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 Anna Ambarian
Investment Insights
Based on property information with market context.
Located at 18446–18452 Sherman Way in Los Angeles’ Reseda area, this is a three-unit retail storefront property presented for sale on two parcels, APN #2125-001-006 and APN #2125-001-005. All three units are fully leased and occupied, including one long-term tenant on a month-to-month basis.
The building is positioned along a high-traffic corridor with visibility and accessibility to the surrounding retail area. Additional features include a large rooftop billboard, rear alley access for ingress and egress, approximately 10± on-site parking spaces, and ample street parking.
For an owner-occupant or investor, the current configuration provides in-place rental income while retaining flexibility given the month-to-month tenancy.
The building is positioned along a high-traffic corridor with visibility and accessibility to the surrounding retail area. Additional features include a large rooftop billboard, rear alley access for ingress and egress, approximately 10± on-site parking spaces, and ample street parking.
For an owner-occupant or investor, the current configuration provides in-place rental income while retaining flexibility given the month-to-month tenancy.
Key Highlights
- Three‑unit retail storefront property built in 1949, offered at 18446–18452 Sherman Way
- Sold as 2 parcels together: APN #2125‑001‑006 and APN #2125‑001‑005
- All three units are fully leased and occupied, including 1 long‑term month‑to‑month 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
$208,099
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
9.05%
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%
$4,161,980
$4.2M
Cap Rate 7%
$2,972,843
$3.0M
Cap Rate 9%
$2,312,211
$2.3M
Market Conditions
NOI Build-Up for 8,967 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
$331.4K $36.96/SF
− Vacancy
−$34.1K −$3.81/SF
EGI
$297.3K $33.15/SF
− OpEx
−$89.2K −$9.95/SF
NOI
$208.1K $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%
$4,161,980
Cap Rate 7%
$2,972,843
Cap Rate 9%
$2,312,211
Alternative Uses
Best Use
Retail
$2.97M
$2.60M – $3.47M
NOI $208,099 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$181.67M
$158.96M – $211.94M
NOI $12,716,623 @ 7.0% cap · market cap 552.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,576
Businesses Nearby
104k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 43%
Dining 36%
Apparel 17%
Electronics 4%
LUV Car Wash
Shops & Services
18,741 visits/mo
0.3 miles
Wells Fargo
Shops & Services
15,529 visits/mo
0.1 miles
Las Fuentes
Dining
15,480 visits/mo
0.4 miles
WSS
Apparel
11,073 visits/mo
0.2 miles
A&W Restaurant
Dining
10,614 visits/mo
0.2 miles
Demographics for 91335, CA
76,650
Population
25,615
Households
3
Avg Household Size
39
Median Age
30%
College-Educated
78%
High-School Grad
6.6 sq mi
ZIP Area
11,614
Density / Sq Mi
$77,164
Median Household Income
$37,470
Median Earnings
$1,811
Median Rent
$700,400
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Similar Off Market Nearby
- LA Bouquet and Events — 6625 Reseda Blvd Unit #1122, Los Angeles, CA 91335
- Noah's Flowers — 7714 Rhea Ave, Reseda, CA 91335
- Julie's Floral — 7714 Rhea Ave, Reseda, CA 91335
Frequently Asked Questions
What type of property is this?
Storefront property - Fully leased three-unit retail storefront with rear alley access, on-site parking, and a rooftop billboard at 18446–18452 Sherman Way.
Where is this storefront property located?
The property is located at 18446 18452 Sherman Way Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Three‑unit retail storefront property built in 1949, offered at 18446–18452 Sherman Way; Sold as 2 parcels together: APN #2125‑001‑006 and APN #2125‑001‑005; All three units are fully leased and occupied, including 1 long‑term month‑to‑month tenant
