Tenant-Occupied Mixed-Use Retail
For Sale
$1,300,000
Pending
21143 W Devonshire Street, Los Angeles, CA 91311
Tenant-occupied retail and residential mixed-use property with prominent street frontage along a busy Valley corridor.
Property Size3,800 SF
Lot Size0.16 Acres
Days on Market156
Property Features for 21143 W Devonshire Street
General Information
Standard status
Pending
Size
3,800 SF
Lot size
0.16 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1973
Listing Agency:
Sun Coast R. E.Downtown
(805) 643-0000
Listed By:
Gerard Martinez · License #01992151
(805) 290-3523
Source:
Exitrealty
Added: Apr 4
Changed: Aug 14
Last Checked: Aug 14 at 7:51AM
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 Sun Coast R. E.Downtown
Investment Insights
Based on property information with market context.
Located at 21143 W Devonshire Street in Los Angeles (Chatsworth), this approximately 3,800+ square foot mixed-use property sits on a nearly 7,000 square foot lot, offering a versatile layout for commercial and residential uses. The property is currently tenant-occupied, providing immediate income potential while allowing flexibility for future repositioning or owner-user needs.
The asset is positioned along one of the San Fernando Valley’s well-traveled corridors and is described as having strong visibility with prominent street frontage and steady traffic exposure. It is presented as being well-suited for investors seeking a long-term hold in a proven corridor, supported by its mixed-use zoning and consistent access.
For buyers and brokers, this is a storefront-oriented asset that combines an income-producing current tenancy with mixed-use configuration, supported by its street-facing presence on a high-traffic route.
The asset is positioned along one of the San Fernando Valley’s well-traveled corridors and is described as having strong visibility with prominent street frontage and steady traffic exposure. It is presented as being well-suited for investors seeking a long-term hold in a proven corridor, supported by its mixed-use zoning and consistent access.
For buyers and brokers, this is a storefront-oriented asset that combines an income-producing current tenancy with mixed-use configuration, supported by its street-facing presence on a high-traffic route.
Key Highlights
- Approx. 3,800+ SF mixed‑use property on a nearly 7,000 SF lot
- Tenant‑occupied for immediate income potential
- Prominent street frontage along a well‑traveled San Fernando Valley corridor
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
$88,187
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
6.78%
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%
$1,763,740
$1.8M
Cap Rate 7%
$1,259,814
$1.3M
Cap Rate 9%
$979,856
$979.9K
Market Conditions
NOI Build-Up for 3,800 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
$140.4K $36.96/SF
− Vacancy
−$14.5K −$3.81/SF
EGI
$126.0K $33.15/SF
− OpEx
−$37.8K −$9.95/SF
NOI
$88.2K $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%
$1,763,740
Cap Rate 7%
$1,259,814
Cap Rate 9%
$979,856
Alternative Uses
Best Use
Retail
$1.26M
$1.10M – $1.47M
NOI $88,187 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$76.99M
$67.36M – $89.82M
NOI $5,389,000 @ 7.0% cap · market cap 414.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
133k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Dining 32%
Groceries 27%
Hotels & Casinos 2%
Ralphs
Groceries
35,860 visits/mo
0.3 miles
McDonald's
Dining
26,981 visits/mo
0.2 miles
Shell
Shops & Services
12,683 visits/mo
0.3 miles
Taco Bell
Dining
11,992 visits/mo
0.1 miles
Chevron
Shops & Services
11,359 visits/mo
0.2 miles
Demographics for 91311, CA
39,014
Population
14,879
Households
2.6
Avg Household Size
44
Median Age
45%
College-Educated
91%
High-School Grad
32.6 sq mi
ZIP Area
1,197
Density / Sq Mi
$117,574
Median Household Income
$60,403
Median Earnings
$2,199
Median Rent
$837,300
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 - Tenant-occupied retail and residential mixed-use property with prominent street frontage along a busy Valley corridor.
Where is this storefront property located?
The property is located at 21143 W Devonshire Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Approx. 3,800+ SF mixed‑use property on a nearly 7,000 SF lot; Tenant‑occupied for immediate income potential; Prominent street frontage along a well‑traveled San Fernando Valley corridor
