Two-Unit Storefront
For Sale
$1,200,000
24630 Narbonne Avenue, Lomita, CA 90717
Two separate retail units with private entrances, restrooms, and air conditioning in a Downtown Commercial-zoned storefront building.
Property Size2,274 SF
Days on Market57
Property Features for 24630 Narbonne Avenue
General Information
Standard status
Active
Size
2,274 SF
Total Parking Spaces
7
Property subtype
Retail
Zoning
Downtown Commercial
Additional Details
Frontage
114 ft
Amenities
private entrances
ADA-compliant restrooms
new A/C unit
rear office with private entrance and plumbing for hair salon
Building Details
Building Size
2,274 SF
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Jessiqa Pace · License #02122433
(310) 986-9888
Source:
2buy
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 13 at 12:47PM
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 Compass
Investment Insights
Based on property information with market context.
Two separate retail units are configured within one storefront building, each with its own private entrance, restroom, and air conditioning. The current retail business uses both units together in an open concept layout, and the property is offered vacant at closing.
The building sits on a highly visible lot with over 114 feet of frontage on Narbonne Avenue, supported by an estimated traffic count of over 800 vehicles per hour. Seven on-site parking spaces serve customers and employees. ADA-compliant restrooms are included, along with a new A/C unit serving the north side of the building. A rear office with its own private entrance and plumbing for a hair salon provides additional flexibility for tenant use.
Zoned Downtown Commercial, the property supports a wide variety of commercial uses. Permits and planning are approved for a new facade to refresh the property’s curb appeal. The building was built in 1979 (buyer to verify any development potential, including second-story residential).
The building sits on a highly visible lot with over 114 feet of frontage on Narbonne Avenue, supported by an estimated traffic count of over 800 vehicles per hour. Seven on-site parking spaces serve customers and employees. ADA-compliant restrooms are included, along with a new A/C unit serving the north side of the building. A rear office with its own private entrance and plumbing for a hair salon provides additional flexibility for tenant use.
Zoned Downtown Commercial, the property supports a wide variety of commercial uses. Permits and planning are approved for a new facade to refresh the property’s curb appeal. The building was built in 1979 (buyer to verify any development potential, including second-story residential).
Key Highlights
- Over 114 feet of frontage on Narbonne Avenue with estimated traffic over 800 vehicles per hour
- Downtown Commercial zoning supporting a wide variety of commercial uses
- Two separate units, each with private entrance, restroom, and air conditioning
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
$50,311
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
4.19%
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%
$1,006,220
$1.0M
Cap Rate 7%
$718,729
$718.7K
Cap Rate 9%
$559,011
$559.0K
Market Conditions
NOI Build-Up for 2,274 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
$77.0K $33.84/SF
− Vacancy
−$5.1K −$2.23/SF
EGI
$71.9K $31.61/SF
− OpEx
−$21.6K −$9.48/SF
NOI
$50.3K $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%
$1,006,220
Cap Rate 7%
$718,729
Cap Rate 9%
$559,011
Alternative Uses
Best Use
Retail
$718.7K
$628.9K – $838.5K
NOI $50,311 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,224 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,631
Businesses Nearby
115k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 26%
Electronics 4%
Chick-fil-A
Dining
46,021 visits/mo
0.5 miles
McDonald's
Dining
21,693 visits/mo
0.5 miles
Taco Bell
Dining
13,187 visits/mo
0.3 miles
ARCO
Shops & Services
11,673 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,321 visits/mo
0.3 miles
Demographics for 90717, CA
22,044
Population
8,199
Households
2.7
Avg Household Size
41
Median Age
37%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,022
Density / Sq Mi
$92,984
Median Household Income
$48,740
Median Earnings
$1,874
Median Rent
$793,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Two separate retail units with private entrances, restrooms, and air conditioning in a Downtown Commercial-zoned storefront building.
Where is this storefront property located?
The property is located at 24630 Narbonne Avenue Lomita, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Over 114 feet of frontage on Narbonne Avenue with estimated traffic over 800 vehicles per hour; Downtown Commercial zoning supporting a wide variety of commercial uses; Two separate units, each with private entrance, restroom, and air conditioning
