Renovated Industrial Warehouse
For Sale
Contact for pricing
6000 South Gramercy Place, Los Angeles, CA 90047
Renovated warehouse with office space, dock-high and grade-level loading, 3-phase power, plus vacant space for lease or owner-occupancy.
Property Size39,976 SF
Price / SF$229.89
Days on Market41
Property Features for 6000 South Gramercy Place
General Information
Standard status
Active
Size
39,976 SF
Class
C
Property subtype
Retail, Industrial
Occupancy
64%
Lease Type
Modified Gross
Net Operating Income
$360,000
Additional Details
Heavy Power
Yes
Building Details
Year Built
1926
Year Renovated
2020
Tenancy
Multi
Listing Agency:
PLG ESTATES
Listed By:
Jason Boritz · License #02229779
Source:
Crexi
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 30 at 5:06PM
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 PLG ESTATES
Investment Insights
Based on property information with market context.
This for-sale industrial asset totals approximately 39,976 square feet and combines warehouse and office components in a flexible layout. Originally built in 1926 and extensively renovated in 2020, the property includes high ceilings, 3-phase power, and both dock-high and grade-level loading. An estimated 14,000 square feet of space is currently vacant and available to be leased or occupied by an owner-user.
Located in Los Angeles, the property is described as an infill location with convenient access to major transportation corridors. The current offering is noted as generating approximately $360,000 in annual Net Operating Income, with additional vacancy intended for lease-up or stabilization.
For an owner-occupant, the available space can support occupying a portion of the building while maintaining existing in-place income. For investors, the opportunity is presented as an industrial value-add scenario tied to the remaining vacancy.
Located in Los Angeles, the property is described as an infill location with convenient access to major transportation corridors. The current offering is noted as generating approximately $360,000 in annual Net Operating Income, with additional vacancy intended for lease-up or stabilization.
For an owner-occupant, the available space can support occupying a portion of the building while maintaining existing in-place income. For investors, the opportunity is presented as an industrial value-add scenario tied to the remaining vacancy.
Key Highlights
- 39,976 SF industrial building in Los Angeles, built in 1926 and extensively renovated in 2020
- Approx. $360,000 annual Net Operating Income with in‑place rental income
- About 14,000 SF of vacant space available to lease or for owner‑user occupancy
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
$603,021
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
6.56%
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%
$12,060,420
$12.1M
Cap Rate 7%
$8,614,586
$8.6M
Cap Rate 9%
$6,700,233
$6.7M
Market Conditions
NOI Build-Up for 39,976 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
$757.9K $18.96/SF
− Vacancy
−$48.5K −$1.21/SF
EGI
$709.4K $17.75/SF
− OpEx
−$106.4K −$2.66/SF
NOI
$603.0K $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%
$12,060,420
Cap Rate 7%
$8,614,586
Cap Rate 9%
$6,700,233
Alternative Uses
Best Use
Warehouse
$8.61M
$7.54M – $10.05M
NOI $603,021 @ 7.0% cap · market cap 6.56%
Second Best
Industrial
$7.09M
$6.21M – $8.28M
NOI $496,606 @ 7.0% cap · market cap 5.40%
Theoretical Best
Multifamily LT 5
$809.89M
$708.65M – $944.87M
NOI $56,692,283 @ 7.0% cap · market cap 616.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90047, CA
50,154
Population
18,042
Households
2.8
Avg Household Size
39
Median Age
21%
College-Educated
81%
High-School Grad
4.7 sq mi
ZIP Area
10,671
Density / Sq Mi
$70,187
Median Household Income
$39,898
Median Earnings
$1,492
Median Rent
$648,200
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?
Flex space - Renovated warehouse with office space, dock-high and grade-level loading, 3-phase power, plus vacant space for lease or owner-occupancy.
Where is this flex space located?
The property is located at 6000 South Gramercy Place Los Angeles, CA.
What is the asking price?
The asking price for this property is $9,190,000.
What are key features of this property?
This property features: 39,976 SF industrial building in Los Angeles, built in 1926 and extensively renovated in 2020; Approx. $360,000 annual Net Operating Income with in‑place rental income; About 14,000 SF of vacant space available to lease or for owner‑user occupancy
