La Brea Avenue Retail
For Sale
Contact for pricing
615 N La Brea Ave, Los Angeles, CA 90036
Retail space in a lively Los Angeles Mid-City West area.
Property Size2,800 SF
Price / SF$642.86
Days on Market107
Property Features for 615 N La Brea Ave
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
10
Property subtype
Retail
Zoning
LAC4-1VL
Investment Type
Owner/User
Building Details
Year Built
1943
Listing Agency:
WESTMAC
Listed By:
Christian Holland · License #CA 00942434
Source:
Crexi
Added: May 15
Changed: Aug 27
Last Checked: Aug 28 at 2:20PM
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 WESTMAC
Investment Insights
Based on property information with market context.
Located on La Brea Avenue in Los Angeles's Mid-City West area, this 2,800 square foot retail space is situated in a lively, urban environment characterized by a mix of retail, dining, and creative businesses. The corridor is known for its trendy boutiques, coffee shops, and design-focused storefronts, creating a modern, fashion-forward atmosphere that attracts locals and visitors. The area features classic Los Angeles commercial architecture, often updated with contemporary interiors. The neighborhood is highly walkable, with a steady flow of foot traffic throughout the day and into the evening. Restaurants range from casual eateries to more upscale dining spots, offering a diverse mix of cuisines. Small galleries, showrooms, and independent brands are also common, reinforcing the area's creative energy. The streets beyond the main avenue transition into residential areas, featuring a mix of older apartment complexes, renovated units, and some single-family homes. Its central location provides easy access to key destinations like West Hollywood, Beverly Grove, and the Miracle Mile. Overall, the area balances bustling city life and neighborhood comfort, with a distinctly contemporary Los Angeles vibe.
Key Highlights
- Highly walkable location in the lively Mid‑City West area of Los Angeles.
- Trendy area with a mix of retail, dining, and creative businesses.
- Convenient central location near West Hollywood, Beverly Grove, and the Miracle Mile.
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
$64,980
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
3.61%
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%
$1,299,600
$1.3M
Cap Rate 7%
$928,286
$928.3K
Cap Rate 9%
$722,000
$722.0K
Market Conditions
NOI Build-Up for 2,800 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
$103.5K $36.96/SF
− Vacancy
−$10.7K −$3.81/SF
EGI
$92.8K $33.15/SF
− OpEx
−$27.8K −$9.95/SF
NOI
$65.0K $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%
$1,299,600
Cap Rate 7%
$928,286
Cap Rate 9%
$722,000
Alternative Uses
Best Use
Retail
$928.3K
$812.3K – $1.08M
NOI $64,980 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$56.73M
$49.64M – $66.18M
NOI $3,970,842 @ 7.0% cap · market cap 220.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 90036, CA
39,549
Population
21,890
Households
1.8
Avg Household Size
36
Median Age
68%
College-Educated
97%
High-School Grad
2.5 sq mi
ZIP Area
15,820
Density / Sq Mi
$102,877
Median Household Income
$66,385
Median Earnings
$2,730
Median Rent
$1,958,600
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?
Retail space - Retail space in a lively Los Angeles Mid-City West area.
Where is this retail space located?
The property is located at 615 N La Brea Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Highly walkable location in the lively Mid‑City West area of Los Angeles.; Trendy area with a mix of retail, dining, and creative businesses.; Convenient central location near West Hollywood, Beverly Grove, and the Miracle Mile.
