Corner Storefront Retail
For Sale
$1,700,000
- 2042 Venice, Los Angeles, CA 90006
Standalone commercial building with LAC1 zoning and separately metered electric service.
Property Size4,316 SF
Lot Size0.21 Acres
Days on Market125
Property Features for - 2042 Venice
General Information
Standard status
Active
Size
4,316 SF
Lot size
0.21 Acres
Property subtype
Commercial
Zoning
LAC1
Occupancy
100%
Site & Location
Corner Location
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$78,600
Building Details
Building Size
4,316 SF
Year Built
1925
Buildings
1
Units
5
Tenancy
Multi
Listing Agency:
(866) 344-7473
Listed By:
Surin Poommai · License #DRE #01354205
Source:
Elliman
Added: Apr 29
Changed: Aug 30
Last Checked: Aug 30 at 2:14PM
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 Surin Poommai
Investment Insights
Based on property information with market context.
Built in 1925, this standalone retail property occupies a 9,292 sq. ft. corner lot with frontage on Venice Boulevard. The building was originally arranged as eight retail units with eight bathrooms and is currently configured as five units. All five existing units are occupied, and the layout may support a return to the original eight-unit configuration.
The property includes the addresses 2030, 2032, 2034, 2038, and 2042 Venice. It is zoned LAC1 and positioned along a high-traffic commercial corridor with convenient street access. Each unit has separate electric metering, with tenants responsible for their own power usage. Walk Score is 86, Transit Score is 62, and Bike Score is 65.
The property includes the addresses 2030, 2032, 2034, 2038, and 2042 Venice. It is zoned LAC1 and positioned along a high-traffic commercial corridor with convenient street access. Each unit has separate electric metering, with tenants responsible for their own power usage. Walk Score is 86, Transit Score is 62, and Bike Score is 65.
Key Highlights
- 9,292 sq. ft. corner lot with frontage on Venice Boulevard
- Originally configured as 8 retail units with 8 bathrooms
- Currently operating as 5 occupied units
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
$100,162
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
5.89%
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%
$2,003,240
$2.0M
Cap Rate 7%
$1,430,886
$1.4M
Cap Rate 9%
$1,112,911
$1.1M
Market Conditions
NOI Build-Up for 4,316 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
$159.5K $36.96/SF
− Vacancy
−$16.4K −$3.81/SF
EGI
$143.1K $33.15/SF
− OpEx
−$42.9K −$9.95/SF
NOI
$100.2K $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%
$2,003,240
Cap Rate 7%
$1,430,886
Cap Rate 9%
$1,112,911
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,162 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$87.44M
$76.51M – $102.01M
NOI $6,120,770 @ 7.0% cap · market cap 360.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,551
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 90006, CA
58,229
Population
21,475
Households
2.7
Avg Household Size
36
Median Age
22%
College-Educated
63%
High-School Grad
1.9 sq mi
ZIP Area
30,647
Density / Sq Mi
$49,847
Median Household Income
$31,645
Median Earnings
$1,396
Median Rent
$841,900
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Standalone commercial building with LAC1 zoning and separately metered electric service.
Where is this storefront property located?
The property is located at - 2042 Venice Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 9,292 sq. ft. corner lot with frontage on Venice Boulevard; Originally configured as 8 retail units with 8 bathrooms; Currently operating as 5 occupied units
