Neighborhood Retail Center with
For Sale
Contact for pricing
2214-2218 W Florence Ave, Los Angeles, CA 90033
Four-unit retail center with separately metered suites, on-site parking, and a vacant space ready for new occupancy.
Property Size2,500 SF
Price / SF$339.60
Days on Market103
Property Features for 2214-2218 W Florence Ave
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
6
Property subtype
Retail
Zoning
LAC2
Occupancy
75%
Investment Type
Value Add
Net Operating Income
$33,924
Additional Details
Traffic Count
38,000 vehicles/day
Building Details
Year Built
1941
Units
4
Tenancy
Multi
Listing Agency:
Rose&Co Group
Listed By:
Arie Rose · License #02206762
Source:
Crexi
Added: Jun 11
Changed: Sep 7
Last Checked: Sep 20 at 5:40AM
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 Rose&Co Group
Investment Insights
Based on property information with market context.
This four-unit neighborhood retail center offers multiple income-generating bays with separate metering for individual tenants. The property includes on-site parking and has undergone recent improvements, supporting straightforward operations for a mix of retail users. One suite is currently vacant, providing an immediate leasing target for the next operator.
Located at 2214-2218 W Florence Ave in Los Angeles, the center sits on a high-traffic commercial corridor with approximately 38,000 vehicles per day, helping support consistent storefront visibility. The configuration is designed for neighborhood retail activity and allows tenants to manage their own utilities through separately metered services.
For buyers and investors, the property’s structure supports diversified leasing, with existing month-to-month tenants in place alongside the available suite. The combination of recent upgrades, on-site parking, and separate metering can help reduce operational complexity and streamline tenant onboarding. The center’s four-unit footprint is well suited to retailers seeking convenient storefront space on a busy corridor while maintaining practical day-to-day control of their tenancy.
Located at 2214-2218 W Florence Ave in Los Angeles, the center sits on a high-traffic commercial corridor with approximately 38,000 vehicles per day, helping support consistent storefront visibility. The configuration is designed for neighborhood retail activity and allows tenants to manage their own utilities through separately metered services.
For buyers and investors, the property’s structure supports diversified leasing, with existing month-to-month tenants in place alongside the available suite. The combination of recent upgrades, on-site parking, and separate metering can help reduce operational complexity and streamline tenant onboarding. The center’s four-unit footprint is well suited to retailers seeking convenient storefront space on a busy corridor while maintaining practical day-to-day control of their tenancy.
Key Highlights
- Four‑unit neighborhood retail center built in 1941
- Located on a high‑traffic commercial corridor with approximately 38,000 vehicles per day
- Includes a vacant suite ready for new occupancy
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
$58,018
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
6.83%
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%
$1,160,360
$1.2M
Cap Rate 7%
$828,829
$828.8K
Cap Rate 9%
$644,644
$644.6K
Market Conditions
NOI Build-Up for 2,500 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
$92.4K $36.96/SF
− Vacancy
−$9.5K −$3.81/SF
EGI
$82.9K $33.15/SF
− OpEx
−$24.9K −$9.95/SF
NOI
$58.0K $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%
$1,160,360
Cap Rate 7%
$828,829
Cap Rate 9%
$644,644
Alternative Uses
Best Use
Retail
$828.8K
$725.2K – $967.0K
NOI $58,018 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$50.65M
$44.32M – $59.09M
NOI $3,545,395 @ 7.0% cap · market cap 417.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
38,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Winchell's Donut House
Dining
8,630 visits/mo
0.4 miles
Krispy Krunchy Chicken
Dining
2,564 visits/mo
0.1 miles
Demographics for 90033, CA
46,081
Population
13,874
Households
3.3
Avg Household Size
32
Median Age
14%
College-Educated
54%
High-School Grad
3.3 sq mi
ZIP Area
13,964
Density / Sq Mi
$56,001
Median Household Income
$29,600
Median Earnings
$1,391
Median Rent
$669,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Four-unit retail center with separately metered suites, on-site parking, and a vacant space ready for new occupancy.
Where is this strip mall located?
The property is located at 2214-2218 W Florence Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Four‑unit neighborhood retail center built in 1941; Located on a high‑traffic commercial corridor with approximately 38,000 vehicles per day; Includes a vacant suite ready for new occupancy
