Retail-Office Building with Courthouse
For Sale
$1,700,000
6259 Van Nuys, Los Angeles, CA 91401
Centrally positioned building on Van Nuys Blvd across from the Van Nuys courthouse, delivered vacant at close.
Property Size3,424 SF
Price / SF$496.50
Days on Market88
Property Features for 6259 Van Nuys
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Commercial
Building Details
Building Size
3,424 SF
Year Built
1911
Units
1
Listing Agency:
(818) 358-6325
Listed By:
Diana Makhtesyan · License #01491104
Source:
Elliman
Added: Jun 4
Changed: Aug 16
Last Checked: Aug 29 at 2:51PM
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 Diana Makhtesyan
Investment Insights
Based on property information with market context.
This freestanding commercial building offers approximately 3,424 square feet within a 3,877 square foot lot. The property is delivered vacant at close of escrow, providing flexibility for an owner-user or investor to tailor the space to their needs. The building supports a range of concepts, with suitability for retail, office, medical, professional, or owner-user use.
The location is on Van Nuys Boulevard directly in front of the Van Nuys courthouse, positioned between Erwin Street and Sylmar Avenue. With both pedestrian and vehicle traffic indicated, the site is designed for visibility and convenient access to surrounding business and civic activity.
For tenants or buyers considering a primary location near civic and commercial demand drivers, the straight-forward, flexible use profile is a practical fit. The combination of high-exposure placement along a major corridor and the opportunity to occupy a vacant property at closing supports a range of retail, professional, and healthcare-adjacent requirements.
The location is on Van Nuys Boulevard directly in front of the Van Nuys courthouse, positioned between Erwin Street and Sylmar Avenue. With both pedestrian and vehicle traffic indicated, the site is designed for visibility and convenient access to surrounding business and civic activity.
For tenants or buyers considering a primary location near civic and commercial demand drivers, the straight-forward, flexible use profile is a practical fit. The combination of high-exposure placement along a major corridor and the opportunity to occupy a vacant property at closing supports a range of retail, professional, and healthcare-adjacent requirements.
Key Highlights
- Retail/commercial property on Van Nuys Blvd directly in front of the Van Nuys courthouse, between Erwin St and Sylmar Ave
- Approx. 3,424 SF building on a 3,877 SF lot
- Suitable for retail, office, medical, professional, or owner‑user use
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
$79,461
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
4.67%
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%
$1,589,220
$1.6M
Cap Rate 7%
$1,135,157
$1.1M
Cap Rate 9%
$882,900
$882.9K
Market Conditions
NOI Build-Up for 3,424 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
$126.6K $36.96/SF
− Vacancy
−$13.0K −$3.81/SF
EGI
$113.5K $33.15/SF
− OpEx
−$34.1K −$9.95/SF
NOI
$79.5K $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%
$1,589,220
Cap Rate 7%
$1,135,157
Cap Rate 9%
$882,900
Alternative Uses
Best Use
Retail
$1.14M
$993.3K – $1.32M
NOI $79,461 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$69.37M
$60.70M – $80.93M
NOI $4,855,773 @ 7.0% cap · market cap 285.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,702
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 20%
Apparel 13%
Electronics 6%
Bank of America
Shops & Services
16,469 visits/mo
0.4 miles
Keyes Toyota
Shops & Services
11,261 visits/mo
0.4 miles
El Pollo Loco
Dining
9,594 visits/mo
0.5 miles
7-Eleven
Shops & Services
8,783 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,701 visits/mo
0.3 miles
Demographics for 91401, CA
39,621
Population
15,785
Households
2.5
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
3.5 sq mi
ZIP Area
11,320
Density / Sq Mi
$75,933
Median Household Income
$40,119
Median Earnings
$1,800
Median Rent
$988,500
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 - Centrally positioned building on Van Nuys Blvd across from the Van Nuys courthouse, delivered vacant at close.
Where is this retail space located?
The property is located at 6259 Van Nuys Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Retail/commercial property on Van Nuys Blvd directly in front of the Van Nuys courthouse, between Erwin St and Sylmar Ave; Approx. 3,424 SF building on a 3,877 SF lot; Suitable for retail, office, medical, professional, or owner‑user use
