Three-Tenant Storefront
New
For Sale
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3009-3015 Wabash Ave, Los Angeles, CA 90063
Retail building with three month-to-month storefront tenancies and potential vacant delivery at closing.
Property Size3,850 SF
Price / SF$382
Days on Market4
Property Features for 3009-3015 Wabash Ave
General Information
Standard status
Active
Size
3,850 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
CAREBF, Inc. Brokered by eXp Commercial Realty
(213) 996-8578
Listed By:
Eric S. Chavez, CCIM · License #01397806
(213) 999-0073
Source:
Moodyscre
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 19 at 2:30PM
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 CAREBF, Inc. Brokered by eXp Commercial Realty
Investment Insights
Based on property information with market context.
This 3,850-square-foot storefront property contains three retail tenant spaces, each occupied under a month-to-month arrangement. The current tenancy structure provides flexibility regarding possession, including the potential to deliver the building vacant at closing.
The property is also subject to a Lamar Advertising billboard lease. The existing billboard term is reported to continue through 12/31/2029. Buyers should independently review the lease and verify applicable development rights.
The property is also subject to a Lamar Advertising billboard lease. The existing billboard term is reported to continue through 12/31/2029. Buyers should independently review the lease and verify applicable development rights.
Key Highlights
- 3,850‑square‑foot retail building
- Three storefront tenants currently occupy the property on a month‑to‑month basis
- Potential to deliver the building vacant at closing
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
$89,348
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
6.08%
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%
$1,786,960
$1.8M
Cap Rate 7%
$1,276,400
$1.3M
Cap Rate 9%
$992,756
$992.8K
Market Conditions
NOI Build-Up for 3,850 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
$142.3K $36.96/SF
− Vacancy
−$14.7K −$3.81/SF
EGI
$127.6K $33.15/SF
− OpEx
−$38.3K −$9.95/SF
NOI
$89.3K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /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%
$1,786,960
Cap Rate 7%
$1,276,400
Cap Rate 9%
$992,756
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,348 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$78.00M
$68.25M – $91.00M
NOI $5,459,908 @ 7.0% cap · market cap 371.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90063, CA
50,227
Population
14,046
Households
3.6
Avg Household Size
34
Median Age
13%
College-Educated
56%
High-School Grad
3.3 sq mi
ZIP Area
15,220
Density / Sq Mi
$71,725
Median Household Income
$33,832
Median Earnings
$1,489
Median Rent
$619,100
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?
Storefront property - Retail building with three month-to-month storefront tenancies and potential vacant delivery at closing.
Where is this storefront property located?
The property is located at 3009-3015 Wabash Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,470,700.
What are key features of this property?
This property features: 3,850‑square‑foot retail building; Three storefront tenants currently occupy the property on a month‑to‑month basis; Potential to deliver the building vacant at closing
