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    Freestanding Retail Building with Loading Title is generated by Realmo AI

    216 S Spring St, Los Angeles, CA

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    Freestanding retail building featuring a loading dock.

    Type:OFFICE
    Property size:
    13,900 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $352/SF
    Added:
    Apr 24, 2023
    Days on Market:
    1148
    Last Refresh:
    May 20 at 8:06 pm

    Property Features for 216 S Spring St

    General Information

    Standard status
    Active
    Size
    13,900 SF
    Lot size
    0.29 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Mike Condon, Jr.

    Listing agent Mike Condon, Jr.

    Listing office Cushman & Wakefield

    Listing date Apr 24, 2023

    Source Moodyscre

    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 Cushman & Wakefield

    HighLights

    • Free standing building
    • Features a loading dock for convenient deliveries
    • Loading dock access via Harlem Alley

    Overview

    This is a freestanding retail building with 13,900 square feet of space. The property includes a loading dock located on Harlem Alley at the rear of the building.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $513.7k $36.96
    − Vacancy −$52.9k −$3.81
    EGI $460.8k $33.15
    − OpEx −$138.2k −$9.95
    NOI $322.6k $23.21
    13,900 SF · lease $36.96/SF/yr · vacancy 10.30% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.61M
    $4.03M – $5.38M (±1% cap)
    NOI $322,580 @ 7.0% cap · market cap 6.58%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $281.61M
    $246.40M – $328.54M (±1% cap)
    NOI $19,712,396 @ 7.0% cap · market cap 402.29%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    (abeautifullife) jamaican cafe Restaurant

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Hair Salon Restaurant Nail Salon Daycare Center Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

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    • Flower Delivery Claremont — 232 n indian hill blvd, claremont, ca 91711
    • Delia Haro Floral — 206 W Bonita Ave, Claremont, CA 91711

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.246
    Latitude
    34.0512

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    FAQs

    What type of property is this?
    Storefront property - Freestanding retail building featuring a loading dock.
    Where is this storefront property located?
    The property is located at 216 S Spring St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: Free standing building; Features a loading dock for convenient deliveries; Loading dock access via Harlem Alley
    (213) 629-7379 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Condon, Jr.
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