Building Details

Buildings 1

Listing Agency: Newmark - Los Angeles Show Phone

Listed By: Andrew Jennison · License #01275687 Show Phone

Source: Moodyscre

Added: Aug 6, 2025 Changed: Oct 26 Last Checked: Nov 1 at 2:34AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 41,656-square-foot freestanding building is currently configured for flex and warehouse use, with modern office space featuring high-end finishes. The property includes 2 large exterior roll-up doors and a truck well for dock-high loading, supporting both office and warehouse functions.

Gated parking and loading areas are provided, with potential for additional parking. The building may also offer approximately 14,974 SF of additional expansion space. The property is located at 5431 W 104th St in Los Angeles, California 90045.

Key Highlights

• 41,656‑square‑foot freestanding flex and warehouse building
• Modern office space with high‑end finishes
• 2 large exterior roll‑up doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$988,757

Cap Rate

5.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$19,775,140 $19.8M

Cap Rate 7%

$14,125,100 $14.1M

Cap Rate 9%

$10,986,189 $11.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 41,656 SF

Gross rent

$1.62M $38.88/SF

− Vacancy

−$301.2K −$7.23/SF

EGI

$1.32M $31.65/SF

− OpEx

−$329.6K −$7.91/SF

NOI

$988.8K $23.74/SF

Area

Los Angeles, CA

Vacancy

18.60%

Lease Rate

$38.88 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$19,775,140

Cap Rate 7%

$14,125,100

Cap Rate 9%

$10,986,189

Alternative Uses

Best Use

Office B

$14.13M

$12.36M – $16.48M (±1% cap)

NOI $988,757 @ 7.0% cap · market cap 5.49%

Second Best

Warehouse

$8.98M

$7.85M – $10.47M (±1% cap)

NOI $628,363 @ 7.0% cap · market cap 3.49%

Theoretical Best

Multifamily LT 5

$843.93M

$738.43M – $984.58M (±1% cap)

NOI $59,074,788 @ 7.0% cap · market cap 328.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Optimist Studios Film Production Optimist Inc Advertising Agency

Suggested Use

Top Pick Dental Office Real Estate Agency Building Supply Spa & Massage Center Gym & Fitness Center Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

1,412

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 90045, CA

41,035

Population

17,981

Households

2.3

Avg Household Size

36

Median Age

64%

College-Educated

96%

High-School Grad

10.8 sq mi

ZIP Area

3,800

Density / Sq Mi

$132,577

Median Household Income

$68,684

Median Earnings

$2,909

Median Rent

$1,322,700

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Modern office finishes support a flexible warehouse configuration with dock-high loading.

Where is this flex space located?

The property is located at 5431 W 104th St Los Angeles, CA.

What is the asking price?

The asking price for this property is $17,995,000.

What are key features of this property?

This property features: 41,656‑square‑foot freestanding flex and warehouse building; Modern office space with high‑end finishes; 2 large exterior roll‑up doors