Warehouse with Variable Clear
New
For Sale
$1,900,000
2300 S Broadway & 106 W 23rd St, Los Angeles, CA 90007
Warehouse property with additional electrical capacity and a documented need for electrical and plumbing restoration.
Property Size10,574 SF
Days on Market4
Property Features for 2300 S Broadway & 106 W 23rd St
General Information
Standard status
Active
Size
10,574 SF
Property subtype
Industrial
Property Condition
Severity
Major Repairs Needed
Evidence
Vandalized
Warehouse & Industrial
Clear Height
20 ft
Power
600 amps
Voltage
240 V
Building Details
Building Size
10,574 SF
Year Built
1956
Listing Agency:
Lee & Associates - Los Angeles - Downtown
(626) 786-7430
Listed By:
Evan Jurgensen · License #CalDRE #01967347
(626) 786-7430
Source:
Lee-associates
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 6:15PM
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 Lee & Associates - Los Angeles - Downtown
Investment Insights
Based on property information with market context.
The warehouse property was built in 1956 and offers clear heights ranging from 12 feet to 20 feet. Additional power service is identified as 600A, 240V, 3W.
The property includes two Los Angeles parcels at 2300 S Broadway and 106 W 23rd St. Existing conditions include vandalism and the removal of copper from portions of the electrical and plumbing systems. APN 5126-034-018 is identified as an additional parcel, with taxes applying to both parcels.
The property includes two Los Angeles parcels at 2300 S Broadway and 106 W 23rd St. Existing conditions include vandalism and the removal of copper from portions of the electrical and plumbing systems. APN 5126-034-018 is identified as an additional parcel, with taxes applying to both parcels.
Key Highlights
- 12' to 20' clear height range
- Additional power: 600A, 240V, 3W
- Built in 1956
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
$159,504
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
8.39%
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%
$3,190,080
$3.2M
Cap Rate 7%
$2,278,629
$2.3M
Cap Rate 9%
$1,772,267
$1.8M
Market Conditions
NOI Build-Up for 10,574 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
$200.5K $18.96/SF
− Vacancy
−$12.8K −$1.21/SF
EGI
$187.7K $17.75/SF
− OpEx
−$28.1K −$2.66/SF
NOI
$159.5K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
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%
$3,190,080
Cap Rate 7%
$2,278,629
Cap Rate 9%
$1,772,267
Alternative Uses
Best Use
Warehouse
$2.28M
$1.99M – $2.66M
NOI $159,504 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$214.22M
$187.45M – $249.93M
NOI $14,995,602 @ 7.0% cap · market cap 789.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
1,649
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90007, CA
40,944
Population
14,153
Households
2.9
Avg Household Size
28
Median Age
29%
College-Educated
63%
High-School Grad
2.4 sq mi
ZIP Area
17,060
Density / Sq Mi
$36,032
Median Household Income
$21,176
Median Earnings
$1,480
Median Rent
$852,900
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property with additional electrical capacity and a documented need for electrical and plumbing restoration.
Where is this warehouse located?
The property is located at 2300 S Broadway & 106 W 23rd St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 12' to 20' clear height range; Additional power: 600A, 240V, 3W; Built in 1956
