Subdividable Flex Space
For Sale
$4,988,000
Pending
550 Crocker, Los Angeles, CA 90013
Three configurable spaces support separate occupancy or a single larger industrial footprint with loading and secured parking.
Property Size19,195 SF
Lot Size0.90 Acres
Days on Market131
Property Features for 550 Crocker
General Information
Standard status
Pending
Size
19,195 SF
Lot size
0.90 Acres
Property subtype
Industrial
Zoning
DTLA 2040
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
19,195 SF
Year Built
1947
Units
3
Listing Agency:
(626) 995-0869
Listed By:
ADAM KAWASAWA
(626) 995-0869
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 11:01AM
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 ADAM KAWASAWA
Investment Insights
Based on property information with market context.
This flex space campus at 550 Crocker in Los Angeles offers three divisible areas measuring 5,500 SF, 5,500 SF, and 8,200 SF. The spaces can operate independently or be combined, creating flexibility for different occupancy plans. Completed Phase 1 and Phase 2 improvements support immediate use and future expansion. Bow-truss ceilings, polished concrete floors, two loading docks, and two gated parking lots add practical functionality and a distinct industrial character. Built in 1947, the property occupies a 39,147 SF lot within a DTLA 2040 zone. It is adjacent to the Toy District, Fashion District, Historic Core, Little Tokyo, and the Arts District, with freeway and transit connections serving the surrounding downtown districts. The property is also located in a qualified opportunity zone. Walk Score is 89, Transit Score is 71, and Bike Score is 69.
Key Highlights
- Three divisible spaces: 5,500 SF, 5,500 SF, and 8,200 SF
- 39,147 SF lot with a DTLA 2040 zoning designation
- Two loading docks and two gated, secure parking lots
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
$238,452
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
4.78%
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%
$4,769,040
$4.8M
Cap Rate 7%
$3,406,457
$3.4M
Cap Rate 9%
$2,649,467
$2.6M
Market Conditions
NOI Build-Up for 19,195 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
$363.9K $18.96/SF
− Vacancy
−$23.3K −$1.21/SF
EGI
$340.6K $17.75/SF
− OpEx
−$102.2K −$5.32/SF
NOI
$238.5K $12.42/SF
Area
Los Angeles, CA
Vacancy
6.40%
Lease Rate
$18.96 /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%
$4,769,040
Cap Rate 7%
$3,406,457
Cap Rate 9%
$2,649,467
Alternative Uses
Best Use
Industrial
$3.41M
$2.98M – $3.97M
NOI $238,452 @ 7.0% cap · market cap 4.78%
Second Best
Flex RnD
$3.16M
$2.77M – $3.69M
NOI $221,419 @ 7.0% cap · market cap 4.44%
Theoretical Best
Multifamily LT 5
$388.88M
$340.27M – $453.69M
NOI $27,221,542 @ 7.0% cap · market cap 545.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16,674
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90013, CA
15,589
Population
10,143
Households
1.5
Avg Household Size
43
Median Age
39%
College-Educated
85%
High-School Grad
0.7 sq mi
ZIP Area
22,270
Density / Sq Mi
$32,848
Median Household Income
$54,250
Median Earnings
$1,161
Median Rent
$786,600
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Three configurable spaces support separate occupancy or a single larger industrial footprint with loading and secured parking.
Where is this flex space located?
The property is located at 550 Crocker Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,988,000.
What are key features of this property?
This property features: Three divisible spaces: 5,500 SF, 5,500 SF, and 8,200 SF; 39,147 SF lot with a DTLA 2040 zoning designation; Two loading docks and two gated, secure parking lots
