Corner Retail Property with Freestanding
For Sale
$1,390,000
3615 Beverly Boulevard, Los Angeles, CA 90004
Corner retail with billboard income, month-to-month occupied storefronts, and a separate vacant freestanding building for owner-use or leasing.
Property Size2,373 SF
Price / SF$585.76
Days on Market80
Property Features for 3615 Beverly Boulevard
General Information
Standard status
Active
Size
2,373 SF
Property subtype
Retail
Additional Details
Opportunity Zone
Yes
Office Units
3
Amenities
3
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
JohnHart Real Estate
(818) 246-1099
Listed By:
Haik Bokhchalian · License #01325511
Source:
Xome
Added: May 29
Changed: Aug 8
Last Checked: Aug 16 at 4:04AM
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 JohnHart Real Estate
Investment Insights
Based on property information with market context.
This corner retail property includes three storefront units currently occupied by a single tenant on a month-to-month basis. In addition to the occupied space, the offering features a separate freestanding retail building that is currently vacant. An on-site billboard lease is in place, providing an additional income stream alongside the retail operations.
The property is located at 3615 Beverly Boulevard on a corner with strong street visibility. Public remarks note strong daily traffic counts and convenient access to Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park. On-site parking is available for retail customers and visitors. The property is also described as being located in an Opportunity Zone.
For investors or owner-users, the mix of occupied storefront space and a vacant freestanding building supports flexible operating strategies. The month-to-month arrangement can allow for potential repositioning depending on the tenant’s status, while the vacant building can be used by an owner-user or marketed for additional rental income. With billboard income already in place, the configuration provides multiple components within one retail asset.
The property is located at 3615 Beverly Boulevard on a corner with strong street visibility. Public remarks note strong daily traffic counts and convenient access to Downtown Los Angeles, Koreatown, Silver Lake, and Echo Park. On-site parking is available for retail customers and visitors. The property is also described as being located in an Opportunity Zone.
For investors or owner-users, the mix of occupied storefront space and a vacant freestanding building supports flexible operating strategies. The month-to-month arrangement can allow for potential repositioning depending on the tenant’s status, while the vacant building can be used by an owner-user or marketed for additional rental income. With billboard income already in place, the configuration provides multiple components within one retail asset.
Key Highlights
- Beverly Blvd corner retail property (Year built: 2005) with highly visible commercial frontage
- Three storefront units are currently occupied by a single tenant on a month‑to‑month lease
- Potential for multiple positioning options: property may be delivered with the occupied space in place or vacant
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
$55,071
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
3.96%
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%
$1,101,420
$1.1M
Cap Rate 7%
$786,729
$786.7K
Cap Rate 9%
$611,900
$611.9K
Market Conditions
NOI Build-Up for 2,373 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
$87.7K $36.96/SF
− Vacancy
−$9.0K −$3.81/SF
EGI
$78.7K $33.15/SF
− OpEx
−$23.6K −$9.95/SF
NOI
$55.1K $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%
$1,101,420
Cap Rate 7%
$786,729
Cap Rate 9%
$611,900
Alternative Uses
Best Use
Retail
$786.7K
$688.4K – $917.9K
NOI $55,071 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$48.08M
$42.07M – $56.09M
NOI $3,365,289 @ 7.0% cap · market cap 242.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,470
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90004, CA
58,585
Population
26,046
Households
2.2
Avg Household Size
37
Median Age
40%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
18,898
Density / Sq Mi
$62,655
Median Household Income
$39,359
Median Earnings
$1,752
Median Rent
$1,457,200
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?
Storefront property - Corner retail with billboard income, month-to-month occupied storefronts, and a separate vacant freestanding building for owner-use or leasing.
Where is this storefront property located?
The property is located at 3615 Beverly Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Beverly Blvd corner retail property (Year built: 2005) with highly visible commercial frontage; Three storefront units are currently occupied by a single tenant on a month‑to‑month lease; Potential for multiple positioning options: property may be delivered with the occupied space in place or vacant
