Commercial Property with Long-Term
For Sale
$2,250,000
Pending
2515 E 115th Pl, Los Angeles, CA 90059
Commercial property featuring three long-term tenants in Los Angeles.
Property Size11,070 SF
Lot Size0.53 Acres
Days on Market158
Property Features for 2515 E 115th Pl
General Information
Standard status
Pending
Size
11,070 SF
Lot size
0.53 Acres
Property subtype
Commercial
Building Details
Building Size
11,070 SF
Year Built
1962
Units
3
Listing Agency:
Harcourts Place
(949) 445-3467
Listed By:
Paul Conti · License #01007130
(949) 445-3467
Source:
Elliman
Added: Mar 11
Changed: Aug 14
Last Checked: Aug 14 at 9:55AM
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 Harcourts Place
Investment Insights
Based on property information with market context.
This commercial property presents an opportunity for investors, featuring three long-term tenants: a kitchen cabinet store, an auto mechanic, and a furniture store. These tenants are well-established within the neighborhood, providing a stable rental income stream, with rent increases underway. The property is divided into three parcels, each occupied by one of the tenants. Acquiring all three parcels as a single commercial property offers a chance for investors seeking stable income in a commercial-light industrial area of Los Angeles, where property values are steadily increasing. Rental income and expenses information will be provided soon.
Key Highlights
- Stable rental income from three long‑term tenants.
- Opportunity for rent increases, enhancing future income potential.
- Located in a commercial‑light industrial area of Los Angeles with steadily increasing property values.
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
$137,518
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
6.11%
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%
$2,750,360
$2.8M
Cap Rate 7%
$1,964,543
$2.0M
Cap Rate 9%
$1,527,978
$1.5M
Market Conditions
NOI Build-Up for 11,070 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
$209.9K $18.96/SF
− Vacancy
−$13.4K −$1.21/SF
EGI
$196.5K $17.75/SF
− OpEx
−$58.9K −$5.32/SF
NOI
$137.5K $12.42/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /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%
$2,750,360
Cap Rate 7%
$1,964,543
Cap Rate 9%
$1,527,978
Alternative Uses
Best Use
Retail
$3.67M
$3.21M – $4.28M
NOI $256,904 @ 7.0% cap · market cap 11.42%
Second Best
Industrial
$1.96M
$1.72M – $2.29M
NOI $137,518 @ 7.0% cap · market cap 6.11%
Theoretical Best
Multifamily LT 5
$224.27M
$196.24M – $261.65M
NOI $15,699,009 @ 7.0% cap · market cap 697.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
18k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
18,351 visits/mo
0.5 miles
Demographics for 90059, CA
43,551
Population
10,650
Households
4.1
Avg Household Size
31
Median Age
12%
College-Educated
62%
High-School Grad
3.2 sq mi
ZIP Area
13,610
Density / Sq Mi
$53,840
Median Household Income
$33,260
Median Earnings
$1,317
Median Rent
$566,200
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Commercial property featuring three long-term tenants in Los Angeles.
Where is this retail property located?
The property is located at 2515 E 115th Pl Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Stable rental income from three long‑term tenants.; Opportunity for rent increases, enhancing future income potential.; Located in a commercial‑light industrial area of Los Angeles with steadily increasing property values.
