Building Details

Tenancy Multi

Listing Agency: CAREBF, Inc. Brokered by eXp Commercial Realty Show Phone

Listed By: Eric S. Chavez, CCIM · License #01397806 Show Phone

Source: Moodyscre

Added: Sep 17 Changed: Oct 25 Last Checked: Nov 3 at 4:21AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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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.

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 / Yr

$89,348

Cap Rate

6.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,786,960 $1.8M

Cap Rate 7%

$1,276,400 $1.3M

Cap Rate 9%

$992,756 $992.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,850 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $5,459,908 @ 7.0% cap · market cap 371.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm (Bike/Boat/Book/etc) Store Gym & Fitness Center Accounting Firm Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

5.7% 2019

6.1% 2020

6% 2021

5.7% 2022

5.6% 2023

6% 2024

6.2% 2025

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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