Automotive Service
For Sale
$4,750,000
21012 Sherman Way, Canoga Park, CA 91303
Automotive property with showrooms, repair bays, offices, paint facilities, and substantial customer parking.
Property Size19,160 SF
Lot Size1.50 Acres
Price / SF$247.91
Days on Market418
Property Features for 21012 Sherman Way
General Information
Standard status
Active
Size
19,160 SF
Lot size
1.50 Acres
Property subtype
General Commercial
Additional Details
Road Access
Yes
Sprinkler System
Yes
Service Bays
13
Amenities
showrooms
offices
spray booths
clarifiers
above-ground tanks
primer zone
hoists
rotary lifts
3
LAC2
89 Parking Spaces.
Rectangular
Gated Community, Rectangular.
Building Details
Year Built
1962
Buildings
4
Tenancy
Multi
Listing Agency:
(818) 432-1500
Listed By:
Keller Williams Studio City
Source:
Xome
Added: Jul 8, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:26PM
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 Keller Williams Studio City
Investment Insights
Based on property information with market context.
The property consists of 19,160 SF of automotive-oriented improvements on a 65,148 SF lot along Sherman Way. The asset includes retail showroom space, offices, automotive bays, spray-paint facilities, hoists, rotary lifts, above-ground tanks, clarifiers, and an updated fire suppression system. One component includes second-floor office space and nine automotive bays, while the separate garage provides four additional bays and an office. Built in 1962, the property supports vehicle sales, repair, collision, and paint operations based on its existing configuration.
The site is positioned near signalized intersections and includes prominent street signage, 42 feet of Sherman Way frontage, and 80 parking spaces within a designated commercial parking lot. Current occupants include Nationwide Auto Exchange and Auto Craft Collision, with operations focused on auto body repair and vehicle painting.
The site is positioned near signalized intersections and includes prominent street signage, 42 feet of Sherman Way frontage, and 80 parking spaces within a designated commercial parking lot. Current occupants include Nationwide Auto Exchange and Auto Craft Collision, with operations focused on auto body repair and vehicle painting.
Key Highlights
- 19,160 SF automotive property on a 65,148 SF lot
- Nine automotive bays plus a separate four‑bay repair garage
- 11 above‑ground lifts, hoists, spray‑paint infrastructure, and rotary lifts
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
$238,017
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
5.01%
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%
$4,760,340
$4.8M
Cap Rate 7%
$3,400,243
$3.4M
Cap Rate 9%
$2,644,633
$2.6M
Market Conditions
NOI Build-Up for 19,160 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
$363.3K $18.96/SF
− Vacancy
−$23.2K −$1.21/SF
EGI
$340.0K $17.75/SF
− OpEx
−$102.0K −$5.32/SF
NOI
$238.0K $12.42/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /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%
$4,760,340
Cap Rate 7%
$3,400,243
Cap Rate 9%
$2,644,633
Alternative Uses
Best Use
Retail
$6.35M
$5.56M – $7.41M
NOI $444,650 @ 7.0% cap · market cap 9.36%
Second Best
Industrial
$3.40M
$2.98M – $3.97M
NOI $238,017 @ 7.0% cap · market cap 5.01%
Theoretical Best
Multifamily LT 5
$388.17M
$339.65M – $452.87M
NOI $27,171,907 @ 7.0% cap · market cap 572.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Service bays
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,509
Businesses Nearby
741k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 27%
Superstores 24%
Apparel 23%
Shops & Services 18%
Target
Superstores
178,254 visits/mo
0.4 miles
Macy's
Apparel
153,682 visits/mo
0.4 miles
Panda Express
Dining
41,707 visits/mo
0.3 miles
In-N-Out Burger
Dining
40,944 visits/mo
0.3 miles
Vallarta Supermarket
Groceries
35,023 visits/mo
0.5 miles
Demographics for 91303, CA
28,457
Population
11,073
Households
2.6
Avg Household Size
34
Median Age
25%
College-Educated
77%
High-School Grad
2.1 sq mi
ZIP Area
13,551
Density / Sq Mi
$76,051
Median Household Income
$35,649
Median Earnings
$1,983
Median Rent
$645,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
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?
Auto shop - Automotive property with showrooms, repair bays, offices, paint facilities, and substantial customer parking.
Where is this auto shop located?
The property is located at 21012 Sherman Way Canoga Park, CA.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: 19,160 SF automotive property on a 65,148 SF lot; Nine automotive bays plus a separate four‑bay repair garage; 11 above‑ground lifts, hoists, spray‑paint infrastructure, and rotary lifts
