Well-Maintained Office Building For
For Sale
$2,200,000
Pending
23150 Crenshaw Blvd, Torrance, CA 90505
Two-story office building on high-traffic Crenshaw Boulevard.
Property Size5,583 SF
Lot Size0.21 Acres
Days on Market151
Property Features for 23150 Crenshaw Blvd
General Information
Standard status
Pending
Size
5,583 SF
Lot size
0.21 Acres
Property subtype
Commercial
Building Details
Building Size
5,583 SF
Year Built
1974
Listing Agency:
NAI Capital
(310) 532-9080
Listed By:
Sheri Messerlian · License #00450571
(310) 532-9080
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:10AM
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 NAI Capital
Investment Insights
Based on property information with market context.
This two-story office building is located on a corner lot along Crenshaw Boulevard, a high-traffic thoroughfare connecting Palos Verdes Peninsula with the 405 Freeway. The building has been very well maintained, and the interior has been recently remodeled. Each floor provides approximately 2,791 square feet of space. The layout includes window peripheral offices, a conference room, a kitchen, two restrooms, and a central bullpen area. Parking is located in the rear of the property. The property is suitable for office use.
Key Highlights
- High‑traffic location on Crenshaw Boulevard connecting Palos Verdes Peninsula and the 405 Freeway.
- Recently remodeled interior.
- Well‑maintained two‑story office building.
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
$64,053
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
2.91%
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%
$1,281,060
$1.3M
Cap Rate 7%
$915,043
$915.0K
Cap Rate 9%
$711,700
$711.7K
Market Conditions
NOI Build-Up for 2,791 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
$100.5K $36.00/SF
− Vacancy
−$15.1K −$5.40/SF
EGI
$85.4K $30.60/SF
− OpEx
−$21.4K −$7.65/SF
NOI
$64.1K $22.95/SF
Area
Torrance, CA
Vacancy
15.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,281,060
Cap Rate 7%
$915,043
Cap Rate 9%
$711,700
Alternative Uses
Best Use
Office B
$915.0K
$800.7K – $1.07M
NOI $64,053 @ 7.0% cap · market cap 2.91%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$56.54M
$49.48M – $65.97M
NOI $3,958,079 @ 7.0% cap · market cap 179.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 90505, CA
36,643
Population
15,202
Households
2.4
Avg Household Size
45
Median Age
59%
College-Educated
97%
High-School Grad
5.9 sq mi
ZIP Area
6,211
Density / Sq Mi
$110,690
Median Household Income
$70,100
Median Earnings
$2,338
Median Rent
$1,144,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building on high-traffic Crenshaw Boulevard.
Where is this office building located?
The property is located at 23150 Crenshaw Blvd Torrance, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: High‑traffic location on Crenshaw Boulevard connecting Palos Verdes Peninsula and the 405 Freeway.; Recently remodeled interior.; Well‑maintained two‑story office building.
