Building Details

Building Size 1,688 SF

Year Built 1939

Tenancy Single

Listing Agency: Berkshire Hathaway HomeService

Listed By: Jennifer Toyama · License #01927057 Show Phone

Source: Truthrealty

Added: Oct 29 Changed: Oct 31 Last Checked: Oct 30 at 3:00PM

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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 Berkshire Hathaway HomeService

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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 freestanding retail storefront was built in 1939 and has direct street frontage along N Croft Avenue. The property is located one parcel south of the Melrose Avenue and N Croft Avenue intersection in Los Angeles.

The site is near the Pacific Design Center, the Sunset Strip, and the Beverly Hills city line. Melrose Avenue’s retail corridor between La Cienega and Fairfax is part of the surrounding area.

Key Highlights

• Freestanding retail property built in 1939
• Direct street frontage on N Croft Avenue
• One parcel south of the Melrose Avenue and N Croft Avenue intersection

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,174

Cap Rate

2.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$783,480 $783.5K

Cap Rate 7%

$559,629 $559.6K

Cap Rate 9%

$435,267 $435.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,688 SF

Gross rent

$62.4K $36.96/SF

− Vacancy

−$6.4K −$3.81/SF

EGI

$56.0K $33.15/SF

− OpEx

−$16.8K −$9.95/SF

NOI

$39.2K $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 Rate 5%

$783,480

Cap Rate 7%

$559,629

Cap Rate 9%

$435,267

Alternative Uses

Best Use

Retail

$559.6K

$489.7K – $652.9K (±1% cap)

NOI $39,174 @ 7.0% cap · market cap 2.80%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$34.20M

$29.92M – $39.90M (±1% cap)

NOI $2,393,851 @ 7.0% cap · market cap 170.99%

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

Property Analytics

Current Use

Clare V. (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Storage Facility Garden Center Grocery & Convenience Store Daycare Center

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

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

8,932

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 90048, CA

22,604

Population

13,733

Households

1.6

Avg Household Size

39

Median Age

69%

College-Educated

96%

High-School Grad

1.9 sq mi

ZIP Area

11,897

Density / Sq Mi

$104,227

Median Household Income

$83,951

Median Earnings

$2,359

Median Rent

$1,847,500

Median Home Value

Market

Vacancy Rate% for Retail in Los Angeles, CA

5.7% 2019

6.1% 2020

6% 2021

5.7% 2022

5.6% 2023

6% 2024

6.2% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Built in 1939, the property occupies a position near Melrose Avenue’s retail corridor.

Where is this storefront property located?

The property is located at 619 N CROFT Los Angeles, CA.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Freestanding retail property built in 1939; Direct street frontage on N Croft Avenue; One parcel south of the Melrose Avenue and N Croft Avenue intersection