Retail Storefront with On-Site
For Sale
$899,998
21627 Sherman Way, Canoga Park, CA 91303
Commercial Sale, Canoga Park, CA
Property Size1,500 SF
Price / SF$599
Days on Market194
Property Features for 21627 Sherman Way
General Information
Property type
Commercial Sale
Property subtype
Retail
Fencing
Chain Link
Directions
Google Maps
Subdivision
CP - Canoga Park
Standard status
Active
APN
2111019002
Utilities
Cooling system
Central Air
Building Details
Year built
1941
Listing Agency:
Rodeo Realty
(818) 761-7222
Listed By:
Jesse James Johnston · License #01732745
(818) 326-0945
Added: Feb 20
Changed: Aug 20
Last Checked: Sep 2 at 6:06AM
MLS# SR26038354
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail storefront is presented as a turnkey owner-user opportunity with a configuration currently operating as a barber shop. The space features polished concrete floors, exposed brick, and custom woodwork. Exterior and site security include a fully fenced lot with a front roll-down security gate, along with an ADA-compliant access ramp. Recent capital improvements help reduce near-term maintenance exposure, including a new roof and HVAC system in 2022, with updated electrical and plumbing in 2020. Additional on-site amenities include a tankless water heater.
Located on Sherman Way in the Canoga Park Parts District of Downtown Canoga Park, the property is positioned for visibility along a commercial corridor. The offering includes four (4) on-site parking spaces, which supports convenient access for customers and day-to-day operations.
The property is suited for owner-operators looking for long-term occupancy. In addition to continuing retail or personal service use, the building is described as a fit for salon, medical, boutique, café, or other neighborhood concepts that benefit from a secured, accessible storefront. The property is currently located in a designated IRS Opportunity Zone, and it is also within the local JEDI Zone where small business incentives may include accessible loans up to $50,000. An SBA 504 lending option may be available for qualified owner-users.
Located on Sherman Way in the Canoga Park Parts District of Downtown Canoga Park, the property is positioned for visibility along a commercial corridor. The offering includes four (4) on-site parking spaces, which supports convenient access for customers and day-to-day operations.
The property is suited for owner-operators looking for long-term occupancy. In addition to continuing retail or personal service use, the building is described as a fit for salon, medical, boutique, café, or other neighborhood concepts that benefit from a secured, accessible storefront. The property is currently located in a designated IRS Opportunity Zone, and it is also within the local JEDI Zone where small business incentives may include accessible loans up to $50,000. An SBA 504 lending option may be available for qualified owner-users.
Key Highlights
- +/- 1,500 SF retail storefront in the Sherman Corridor (Canoga Park Parts District) of Downtown Canoga Park
- Currently operating as a barber shop; property is suited for other retail/office uses (e.g., salon, medical, boutique, yoga/workout studio, cafe, comedy club)
- Designated IRS Opportunity Zone and within the local JEDI Zone for small‑business incentive programs (including accessible loans up to $50,000)
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
$34,811
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
3.87%
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%
$696,220
$696.2K
Cap Rate 7%
$497,300
$497.3K
Cap Rate 9%
$386,789
$386.8K
Market Conditions
NOI Build-Up for 1,500 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
$55.4K $36.96/SF
− Vacancy
−$5.7K −$3.81/SF
EGI
$49.7K $33.15/SF
− OpEx
−$14.9K −$9.95/SF
NOI
$34.8K $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%
$696,220
Cap Rate 7%
$497,300
Cap Rate 9%
$386,789
Alternative Uses
Best Use
Retail
$497.3K
$435.1K – $580.2K
NOI $34,811 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$30.39M
$26.59M – $35.45M
NOI $2,127,237 @ 7.0% cap · market cap 236.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3,210
Businesses Nearby
442k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 34%
Groceries 8%
Home Improvements & Furnishings 5%
Panda Express
Dining
41,707 visits/mo
0.4 miles
In-N-Out Burger
Dining
40,944 visits/mo
0.5 miles
Vallarta Supermarket
Groceries
35,023 visits/mo
0.4 miles
LUV Car Wash
Shops & Services
25,810 visits/mo
0.5 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
23,539 visits/mo
0.4 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.
Similar Off Market Nearby
- La Fleur Bouquets — 6600 ca-27, canoga park, ca 91303
- Paradise Flowers & Design — 6901 Topanga Canyon Blvd UNIT A, Canoga Park, CA 91303
- canoga park florist — 7144 Owensmouth Ave, Canoga Park, CA 91303
- Buds 'N Blossoms — 7144 Owensmouth Ave, Canoga Park, CA 91303
- Nature Creation — 7240 Eton Ave, Canoga Park, CA 91303
Frequently Asked Questions
What type of property is this?
Storefront property - Turnkey retail storefront with four on-site spaces, fenced secured entry, and ADA ramp, recently upgraded building systems.
Where is this storefront property located?
The property is located at 21627 Sherman Way Canoga Park, CA.
What is the asking price?
The asking price for this property is $899,998.
What are key features of this property?
This property features: +/- 1,500 SF retail storefront in the Sherman Corridor (Canoga Park Parts District) of Downtown Canoga Park; Currently operating as a barber shop; property is suited for other retail/office uses (e.g., salon, medical, boutique, yoga/workout studio, cafe, comedy club); Designated IRS Opportunity Zone and within the local JEDI Zone for small‑business incentive programs (including accessible loans up to $50,000)
