Masonry Manufacturing
For Sale
$3,200,000
3690 Noakes Street, Los Angeles, CA 90023
Single-tenant industrial facility with loading, secured entry, and specialized features for manufacturing and distribution operations.
Property Size12,870 SF
Days on Market146
Property Features for 3690 Noakes Street
General Information
Standard status
Active
Size
12,870 SF
Total Parking Spaces
10
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
1
Loading
Front Load
Cold Storage
Yes
Additional Details
Gross Income
$432,449
Land Use
industrial, cannabis
Amenities
24 hour access
security system
Building Details
Building Size
12,870 SF
Year Built
1987
Construction
masonry
Tenancy
Single
Listed By:
Armen Kazaryan, MRED · License #CalDRE #01291719
(323) 767-2041
Source:
Lee-associates
Added: Apr 12
Changed: Sep 4
Last Checked: Aug 30 at 12:08PM
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 Armen Kazaryan, MRED
Investment Insights
Based on property information with market context.
Located at 3690 Noakes Street in Los Angeles, this manufacturing warehouse was constructed in 1987 with masonry construction. The facility includes a dock-high loading position, front loading, a raised floor, floor drains, freezer space, skylights, and a security system. A fenced entry and 24-hour access support controlled operations and flexible scheduling.
The property provides ten on-site parking spaces and is configured for manufacturing and distribution activity. The existing tenant’s approved city plans call for a full build-out tailored to cannabis distillate manufacturing and distribution, subject to buyer verification. The site has also been associated with a five-year lease renewal option and 3% annual rental increases; lease terms and operating information should be reviewed through due diligence.
The property provides ten on-site parking spaces and is configured for manufacturing and distribution activity. The existing tenant’s approved city plans call for a full build-out tailored to cannabis distillate manufacturing and distribution, subject to buyer verification. The site has also been associated with a five-year lease renewal option and 3% annual rental increases; lease terms and operating information should be reviewed through due diligence.
Key Highlights
- 1987 masonry construction at 3690 Noakes Street, Los Angeles, CA 90023
- Dock‑high loading position with front‑loading configuration
- Ten on‑site parking spaces with fenced entry
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
$194,138
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
6.07%
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%
$3,882,760
$3.9M
Cap Rate 7%
$2,773,400
$2.8M
Cap Rate 9%
$2,157,089
$2.2M
Market Conditions
NOI Build-Up for 12,870 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
$244.0K $18.96/SF
− Vacancy
−$15.6K −$1.21/SF
EGI
$228.4K $17.75/SF
− OpEx
−$34.3K −$2.66/SF
NOI
$194.1K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
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%
$3,882,760
Cap Rate 7%
$2,773,400
Cap Rate 9%
$2,157,089
Alternative Uses
Best Use
Warehouse
$2.77M
$2.43M – $3.24M
NOI $194,138 @ 7.0% cap · market cap 6.07%
Second Best
Industrial
$2.28M
$2.00M – $2.66M
NOI $159,879 @ 7.0% cap · market cap 5.00%
Theoretical Best
Multifamily LT 5
$260.74M
$228.15M – $304.19M
NOI $18,251,693 @ 7.0% cap · market cap 570.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
995
Businesses Nearby
Explore this area
Business Placement
Demographics for 90023, CA
45,939
Population
12,319
Households
3.7
Avg Household Size
32
Median Age
10%
College-Educated
53%
High-School Grad
4.3 sq mi
ZIP Area
10,683
Density / Sq Mi
$56,623
Median Household Income
$30,967
Median Earnings
$1,414
Median Rent
$617,600
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Single-tenant industrial facility with loading, secured entry, and specialized features for manufacturing and distribution operations.
Where is this manufacturing property located?
The property is located at 3690 Noakes Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 1987 masonry construction at 3690 Noakes Street, Los Angeles, CA 90023; Dock‑high loading position with front‑loading configuration; Ten on‑site parking spaces with fenced entry
