Corner Retail Strip Mall
For Sale
$6,900,000
3631 Crenshaw, Los Angeles, CA 90016
For-sale retail strip mall at a busy corner intersection, offering a straightforward configuration for storefront-oriented tenants.
Property Size15,751 SF
Days on Market55
Property Features for 3631 Crenshaw
General Information
Standard status
Active
Size
15,751 SF
Building Details
Building Size
15,751 SF
Year Built
1985
Buildings
1
Stories
1
Listing Agency:
RE/MAX GATEWAY
(818) 723-7204
Listed By:
Jose Peralta · License #01737466
(818) 723-7204
Source:
Evrealestate
Added: Jul 1
Changed: Aug 14
Last Checked: Aug 23 at 4:28AM
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 RE/MAX GATEWAY
Investment Insights
Based on property information with market context.
This for-sale retail asset is presented as a strip mall with storefront-style commercial space. The offering is identified by its address at 3631 Crenshaw and is marketed as part of the retail properties & spaces category, making it suitable for tenants seeking street-facing retail exposure within a multi-unit format.
The property is located at the corner of Crenshaw and Exposition in Los Angeles County. As a corner site, it provides an intersection presence that can be beneficial for businesses that rely on walk-up and pass-by visibility, along with straightforward access from both intersecting roads.
From a tenant or buyer standpoint, this type of property can be a practical fit for retail operators looking for a storefront environment rather than a larger single-tenant building. The corner location and strip mall branding suggest a commercial setting designed to accommodate multiple retail uses, subject to applicable lease terms, property condition, and any tenant-specific requirements. Buyers considering a purchase may also evaluate how the existing retail-oriented layout aligns with their intended use, branding, and operational needs. Additional due diligence on unit mix, lease status, and any property improvements would be recommended as part of a complete review.
The property is located at the corner of Crenshaw and Exposition in Los Angeles County. As a corner site, it provides an intersection presence that can be beneficial for businesses that rely on walk-up and pass-by visibility, along with straightforward access from both intersecting roads.
From a tenant or buyer standpoint, this type of property can be a practical fit for retail operators looking for a storefront environment rather than a larger single-tenant building. The corner location and strip mall branding suggest a commercial setting designed to accommodate multiple retail uses, subject to applicable lease terms, property condition, and any tenant-specific requirements. Buyers considering a purchase may also evaluate how the existing retail-oriented layout aligns with their intended use, branding, and operational needs. Additional due diligence on unit mix, lease status, and any property improvements would be recommended as part of a complete review.
Key Highlights
- For‑sale retail strip mall with year built 1985
- Corner location at Crenshaw and Exposition
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
$365,536
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
5.30%
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%
$7,310,720
$7.3M
Cap Rate 7%
$5,221,943
$5.2M
Cap Rate 9%
$4,061,511
$4.1M
Market Conditions
NOI Build-Up for 15,751 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
$582.2K $36.96/SF
− Vacancy
−$60.0K −$3.81/SF
EGI
$522.2K $33.15/SF
− OpEx
−$156.7K −$9.95/SF
NOI
$365.5K $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%
$7,310,720
Cap Rate 7%
$5,221,943
Cap Rate 9%
$4,061,511
Alternative Uses
Best Use
Retail
$5.22M
$4.57M – $6.09M
NOI $365,536 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$319.11M
$279.22M – $372.29M
NOI $22,337,406 @ 7.0% cap · market cap 323.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 90016, CA
46,512
Population
19,529
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
79%
High-School Grad
3.6 sq mi
ZIP Area
12,920
Density / Sq Mi
$71,067
Median Household Income
$42,292
Median Earnings
$1,729
Median Rent
$919,800
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 - For-sale retail strip mall at a busy corner intersection, offering a straightforward configuration for storefront-oriented tenants.
Where is this strip mall located?
The property is located at 3631 Crenshaw Los Angeles, CA.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: For‑sale retail strip mall with year built 1985; Corner location at Crenshaw and Exposition
