Retail/Auto Shop Redevelopment
For Sale
Contact for pricing
5024-5030 W Washington Blvd, Los Angeles, CA 90016
Value-add property with flexible LAC2 zoning and Opportunity Zone designation, positioned for retail or automotive operations.
Property Size3,540 SF
Price / SF$564.97
Days on Market64
Property Features for 5024-5030 W Washington Blvd
General Information
Standard status
Active
Size
3,540 SF
Total Parking Spaces
12
Property subtype
Retail
Zoning
C2-1VL-CPIO
Investment Type
Value Add
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1939
Stories
1
Tenancy
Multi
Listing Agency:
Major Properties
(310) 880-2329
Listed By:
Jesse McKenzie · License #CA 01939062
Source:
Crexi
Added: Jun 9
Changed: Aug 8
Last Checked: Aug 8 at 12:25PM
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 Major Properties
Investment Insights
Based on property information with market context.
The property at 5024–5030 W Washington Blvd includes approximately 3,540 square feet of retail/auto shop improvements on an approximately 10,669 square foot parcel. Built in 1939, the site is suited for continued operation of the existing retail/automotive use or for redevelopment and repositioning under the property’s flexible zoning.
The location provides strong frontage along Washington Boulevard and visibility in a dense urban infill setting. The site is positioned near La Brea Avenue and the Culver City area, with convenient access to the 10 Freeway.
For investors, owner-users, and developers, this offering presents a practical redevelopment framework through its LAC2 zoning flexibility and Opportunity Zone designation. The combination of existing improvements and adaptable planning support makes it a fit for a range of commercial and mixed-use concepts, while also allowing for an operator to continue retail and automotive uses on-site.
The location provides strong frontage along Washington Boulevard and visibility in a dense urban infill setting. The site is positioned near La Brea Avenue and the Culver City area, with convenient access to the 10 Freeway.
For investors, owner-users, and developers, this offering presents a practical redevelopment framework through its LAC2 zoning flexibility and Opportunity Zone designation. The combination of existing improvements and adaptable planning support makes it a fit for a range of commercial and mixed-use concepts, while also allowing for an operator to continue retail and automotive uses on-site.
Key Highlights
- Built in 1939 retail/auto shop improvements totaling approx. 3,540 SF
- Set on an approx. 10,669 SF parcel with strong frontage along Washington Boulevard
- Flexible LAC2 zoning supports a wide range of commercial and mixed‑use development
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
$82,153
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
4.11%
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%
$1,643,060
$1.6M
Cap Rate 7%
$1,173,614
$1.2M
Cap Rate 9%
$912,811
$912.8K
Market Conditions
NOI Build-Up for 3,540 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
$130.8K $36.96/SF
− Vacancy
−$13.5K −$3.81/SF
EGI
$117.4K $33.15/SF
− OpEx
−$35.2K −$9.95/SF
NOI
$82.2K $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%
$1,643,060
Cap Rate 7%
$1,173,614
Cap Rate 9%
$912,811
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,153 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$628.2K
$549.7K – $732.9K
NOI $43,976 @ 7.0% cap · market cap 2.20%
Theoretical Best
Multifamily LT 5
$71.72M
$62.75M – $83.67M
NOI $5,020,279 @ 7.0% cap · market cap 251.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Well-served
Demand for This Use
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?
Auto shop - Value-add property with flexible LAC2 zoning and Opportunity Zone designation, positioned for retail or automotive operations.
Where is this auto shop located?
The property is located at 5024-5030 W Washington Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Built in 1939 retail/auto shop improvements totaling approx. 3,540 SF; Set on an approx. 10,669 SF parcel with strong frontage along Washington Boulevard; Flexible LAC2 zoning supports a wide range of commercial and mixed‑use development
