Functional Brick Building in Los
For Sale
$7,200,000
238 S Mission Rd, Los Angeles, CA 90033
Freestanding building with docks, office space, and freeway access.
Property Size30,101 SF
Lot Size0.69 Acres
Price / SF$239.19
Days on Market156
Property Features for 238 S Mission Rd
General Information
Standard status
Active
Size
30,101 SF
Lot size
0.69 Acres
Property subtype
Industrial
Building Details
Building Size
30,101 SF
Year Built
1937
Properties For Sale
at 238 S Mission Rd Contact us- Suite
- 238 S Mission Rd
- Size
- 30,101 SF
- Availability
- Not For Lease
Available Space
Restrooms: 4 Abundant street parking on 3 sides of the building. Please verify all...
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Listing Agency:
Los Angeles
Listed By:
Ian Grossman · License #CA 02179242
(213) 270-2219
Source:
Daumcommercial
Added: Apr 3
Changed: Sep 3
Last Checked: Sep 5 at 3:35AM
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 Los Angeles
Investment Insights
Based on property information with market context.
This functional freestanding brick building is located in downtown Los Angeles, offering convenient access to the 5, 10, and 101 Freeways. Situated in the Arts District and Boyle Heights, the property features approximately 4,546 square feet of office space. The warehouse includes two 20’x12’ docks with levelers, capable of accommodating 53’ trailers. The property size is 30,101 square feet.
Key Highlights
- Prime Downtown Los Angeles Location
- Easy Access to 5, 10, and 101 Freeways
- Two 20’x12’ Docks w/ Levelers & Ability to Accommodate 53’ Trailers
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
$454,061
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
6.31%
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%
$9,081,220
$9.1M
Cap Rate 7%
$6,486,586
$6.5M
Cap Rate 9%
$5,045,122
$5.0M
Market Conditions
NOI Build-Up for 30,101 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
$570.7K $18.96/SF
− Vacancy
−$36.5K −$1.21/SF
EGI
$534.2K $17.75/SF
− OpEx
−$80.1K −$2.66/SF
NOI
$454.1K $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%
$9,081,220
Cap Rate 7%
$6,486,586
Cap Rate 9%
$5,045,122
Alternative Uses
Best Use
Warehouse
$6.49M
$5.68M – $7.57M
NOI $454,061 @ 7.0% cap · market cap 6.31%
Second Best
Industrial
$5.34M
$4.67M – $6.23M
NOI $373,932 @ 7.0% cap · market cap 5.19%
Theoretical Best
Multifamily LT 5
$609.83M
$533.60M – $711.47M
NOI $42,687,973 @ 7.0% cap · market cap 592.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,303
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Rancho Cold Storage — 670 Mesquit St, Los Angeles, CA 90021
Frequently Asked Questions
What type of property is this?
Warehouse - Freestanding building with docks, office space, and freeway access.
Where is this warehouse located?
The property is located at 238 S Mission Rd Los Angeles, CA.
What is the asking price?
The asking price for this property is $7,200,000.
What are key features of this property?
This property features: Prime Downtown Los Angeles Location; Easy Access to 5, 10, and 101 Freeways; Two 20’x12’ Docks w/ Levelers & Ability to Accommodate 53’ Trailers
