Freestanding Flex
For Sale
Contact for pricing
5431 W 104th St, Los Angeles, CA 90045
Modern office finishes support a flexible warehouse configuration with dock-high loading.
Property Size41,656 SF
Price / SF$431.99
Days on Market407
Property Features for 5431 W 104th St
General Information
Standard status
Active
Size
41,656 SF
Property subtype
INDUSTRIAL
Additional Details
Fenced Yard
Yes
Building Details
Buildings
1
Listing Agency:
Newmark - Los Angeles
(310) 201-2060
Listed By:
Andrew Jennison · License #01275687
(310) 980-1208
Source:
Moodyscre
Added: Aug 6, 2025
Changed: Sep 9
Last Checked: Sep 15 at 6:28AM
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 Newmark - Los Angeles
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.
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 = 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
$988,757
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
5.49%
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%
$19,775,140
$19.8M
Cap Rate 7%
$14,125,100
$14.1M
Cap Rate 9%
$10,986,189
$11.0M
Market Conditions
NOI Build-Up for 41,656 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
$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 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%
$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
NOI $988,757 @ 7.0% cap · market cap 5.49%
Second Best
Warehouse
$8.98M
$7.85M – $10.47M
NOI $628,363 @ 7.0% cap · market cap 3.49%
Theoretical Best
Multifamily LT 5
$843.93M
$738.43M – $984.58M
NOI $59,074,788 @ 7.0% cap · market cap 328.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Oscar’s sushi kitchen — 5351 W 102nd St, Los Angeles, CA 90045
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
