Occupied Neighborhood Retail Strip
For Sale
Contact for pricing
3062-3076 W 8th St., Los Angeles, CA 90005
Two single-story retail buildings offer neighborhood-serving space, surface parking, and direct W 8th St frontage.
Property Size6,567 SF
Price / SF$807.07
Days on Market19
Property Features for 3062-3076 W 8th St.
General Information
Standard status
Active
Size
6,567 SF
Total Parking Spaces
16
Property subtype
Retail
Zoning
LAR4, C2-1
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$347,120
Building Details
Year Built
1991
Buildings
2
Units
8
Tenancy
Multi
Listing Agency:
Lyon Stahl Investment Real Estate
(805) 208-5266
Listed By:
Kyle Woods · License #02034325
Source:
Crexi
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 29 at 11:17PM
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 Lyon Stahl Investment Real Estate
Investment Insights
Based on property information with market context.
8th St Plaza comprises two single-story retail buildings totaling approximately 6,567 square feet on a 12,632 square foot parcel. The center is fully occupied by 8 tenants spanning food, personal services, specialty retail, and daily-needs uses. Existing improvements include open surface parking and frontage along W 8th St, with an NNN lease structure supporting the current tenancy.
The property is positioned at 3062-3076 W. 8th St. near Berendo St. in Los Angeles’ Koreatown submarket. Surrounding development includes multifamily housing, restaurants, small businesses, service retailers, hospitality, entertainment, and professional services. Access connects the center with W 8th St, Western Ave, Olympic Blvd, Wilshire Blvd, Vermont Ave, and 6th St, as well as Downtown Los Angeles, MidWilshire, Westlake, Hollywood, and central Los Angeles corridors.
The property was built in 1991 and carries LAR4, C2-1 zoning. Current occupants include Aca Grill, Mochinut, Beauty Salon, Potato Sack, Dog Grooming, Smoke Shop, Korean Restaurant & Wine, and Korean Homemade Candy.
The property is positioned at 3062-3076 W. 8th St. near Berendo St. in Los Angeles’ Koreatown submarket. Surrounding development includes multifamily housing, restaurants, small businesses, service retailers, hospitality, entertainment, and professional services. Access connects the center with W 8th St, Western Ave, Olympic Blvd, Wilshire Blvd, Vermont Ave, and 6th St, as well as Downtown Los Angeles, MidWilshire, Westlake, Hollywood, and central Los Angeles corridors.
The property was built in 1991 and carries LAR4, C2-1 zoning. Current occupants include Aca Grill, Mochinut, Beauty Salon, Potato Sack, Dog Grooming, Smoke Shop, Korean Restaurant & Wine, and Korean Homemade Candy.
Key Highlights
- Approximately 6,567 square feet on a 12,632 square foot parcel
- Fully occupied by 8 tenants
- Two single‑story retail buildings with open surface parking
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
$152,402
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
2.88%
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%
$3,048,040
$3.0M
Cap Rate 7%
$2,177,171
$2.2M
Cap Rate 9%
$1,693,356
$1.7M
Market Conditions
NOI Build-Up for 6,567 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
$242.7K $36.96/SF
− Vacancy
−$25.0K −$3.81/SF
EGI
$217.7K $33.15/SF
− OpEx
−$65.3K −$9.95/SF
NOI
$152.4K $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%
$3,048,040
Cap Rate 7%
$2,177,171
Cap Rate 9%
$1,693,356
Alternative Uses
Best Use
Retail
$2.18M
$1.91M – $2.54M
NOI $152,402 @ 7.0% cap · market cap 2.88%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$133.04M
$116.41M – $155.22M
NOI $9,313,043 @ 7.0% cap · market cap 175.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 90005, CA
37,987
Population
19,357
Households
2
Avg Household Size
37
Median Age
38%
College-Educated
74%
High-School Grad
1.2 sq mi
ZIP Area
31,656
Density / Sq Mi
$52,755
Median Household Income
$35,847
Median Earnings
$1,648
Median Rent
$1,084,400
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?
Strip mall - Two single-story retail buildings offer neighborhood-serving space, surface parking, and direct W 8th St frontage.
Where is this strip mall located?
The property is located at 3062-3076 W 8th St. Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,300,000.
What are key features of this property?
This property features: Approximately 6,567 square feet on a 12,632 square foot parcel; Fully occupied by 8 tenants; Two single‑story retail buildings with open surface parking
