Altadena Auto-Use Commercial
For Sale
$1,350,000
2315 Fair Oaks Ave, Altadena, CA 91001
Rare, approved auto-use property with operating business on Fair Oaks.
Property Size1,715 SF
Lot Size0.09 Acres
Price / SF$787.17
Days on Market213
Property Features for 2315 Fair Oaks Ave
General Information
Standard status
Active
Size
1,715 SF
Lot size
0.09 Acres
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Jonathon Williams · License #02220679
777
Source:
Exprealty
Added: Feb 10
Changed: Sep 10
Last Checked: Sep 9 at 8:38PM
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 eXp Realty of Greater Los Angeles, Inc.
Investment Insights
Based on property information with market context.
This single-story commercial building, situated in Altadena, presents a rare opportunity with its approved automotive use. The property features approximately 1,715 square feet of space on a 4,030 square foot lot. Zoned C3 General Commercial, it is ideally suited for auto repair, detailing, specialty garage, or light mechanical work, and could also be converted to other commercial uses. The building includes high ceilings, durable block construction, and an open functional layout. Two roll-up doors facilitate vehicle access and efficient operations. The property benefits from high visibility along Fair Oaks Avenue, ensuring excellent exposure and consistent traffic. A fully approved and licensed automotive business is included, enabling immediate operation. The property's zoning and licensing make it a standout investment. The location has a walk score of 55, indicating it is somewhat walkable, a transit score of 42, suggesting some transit options are available, and a bike score of 38, meaning it is somewhat bikeable.
Key Highlights
- Rare, legally approved auto‑use zoning in Altadena.
- Fully licensed automotive business included for immediate operation and income.
- High‑traffic Fair Oaks Avenue frontage provides excellent visibility.
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
$37,944
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
2.81%
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%
$758,880
$758.9K
Cap Rate 7%
$542,057
$542.1K
Cap Rate 9%
$421,600
$421.6K
Market Conditions
NOI Build-Up for 1,715 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
$58.0K $33.84/SF
− Vacancy
−$3.8K −$2.23/SF
EGI
$54.2K $31.61/SF
− OpEx
−$16.3K −$9.48/SF
NOI
$37.9K $22.12/SF
Area
Los Angeles County, CA
Vacancy
6.60%
Lease Rate
$33.84 /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%
$758,880
Cap Rate 7%
$542,057
Cap Rate 9%
$421,600
Alternative Uses
Best Use
Retail
$542.1K
$474.3K – $632.4K
NOI $37,944 @ 7.0% cap · market cap 2.81%
Second Best
Industrial
$286.3K
$250.5K – $334.0K
NOI $20,042 @ 7.0% cap · market cap 1.48%
Theoretical Best
Office A
$918.2K
$803.4K – $1.07M
NOI $64,274 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
43k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
ARCO
Shops & Services
27,309 visits/mo
0.2 miles
Mobil
Shops & Services
15,985 visits/mo
0.2 miles
Demographics for 91001, CA
36,578
Population
13,335
Households
2.7
Avg Household Size
45
Median Age
52%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
4,407
Density / Sq Mi
$133,840
Median Household Income
$64,449
Median Earnings
$2,298
Median Rent
$1,085,000
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 West region
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Frequently Asked Questions
What type of property is this?
Automotive property - Rare, approved auto-use property with operating business on Fair Oaks.
Where is this automotive property located?
The property is located at 2315 Fair Oaks Ave Altadena, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Rare, legally approved auto‑use zoning in Altadena.; Fully licensed automotive business included for immediate operation and income.; High‑traffic Fair Oaks Avenue frontage provides excellent visibility.
