Warehouse-Studio Building with
For Sale
Contact for pricing
667 S Santa Fe Ave, Los Angeles, CA 90021
Warehouse or studio building with three street frontages and high visibility on Santa Fe Ave.
Property Size35,470 SF
Price / SF$338.31
Days on Market866
Property Features for 667 S Santa Fe Ave
General Information
Standard status
Active
Size
35,470 SF
Property subtype
INDUSTRIAL
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Listing Agency:
Cushman & Wakefield
(213) 955-5100
Listed By:
Brandon Gill
(213) 629-6528
Source:
Moodyscre
Added: May 2, 2024
Changed: Sep 2
Last Checked: Sep 14 at 5:29AM
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
This warehouse or studio building offers flexible commercial space with a recent rezone supporting a clear development path. The property is identified with Opportunity Zone benefits and is located within the Arts District BID.
The building features three street frontages with high visibility along Santa Fe Ave. The property is also described as being within walking distance to restaurants and amenities.
For sale and well-suited to buyers seeking a warehouse or creative studio configuration in the Arts District, this asset combines multiple frontages and visibility with a rezoning backdrop for future planning.
The building features three street frontages with high visibility along Santa Fe Ave. The property is also described as being within walking distance to restaurants and amenities.
For sale and well-suited to buyers seeking a warehouse or creative studio configuration in the Arts District, this asset combines multiple frontages and visibility with a rezoning backdrop for future planning.
Key Highlights
- Warehouse or studio building with three street frontages
- High visibility on Santa Fe Ave with street frontage
- Recent rezone provides a clear development path
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
$535,050
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
4.46%
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%
$10,701,000
$10.7M
Cap Rate 7%
$7,643,571
$7.6M
Cap Rate 9%
$5,945,000
$5.9M
Market Conditions
NOI Build-Up for 35,470 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
$672.5K $18.96/SF
− Vacancy
−$43.0K −$1.21/SF
EGI
$629.5K $17.75/SF
− OpEx
−$94.4K −$2.66/SF
NOI
$535.0K $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%
$10,701,000
Cap Rate 7%
$7,643,571
Cap Rate 9%
$5,945,000
Alternative Uses
Best Use
Warehouse
$7.64M
$6.69M – $8.92M
NOI $535,050 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$718.60M
$628.78M – $838.37M
NOI $50,302,063 @ 7.0% cap · market cap 419.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,464
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90021, CA
5,192
Population
1,694
Households
3.1
Avg Household Size
46
Median Age
20%
College-Educated
64%
High-School Grad
2.0 sq mi
ZIP Area
2,596
Density / Sq Mi
$32,250
Median Household Income
$35,528
Median Earnings
$984
Median Rent
$1,075,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Los Angeles, CA
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse or studio building with three street frontages and high visibility on Santa Fe Ave.
Where is this warehouse located?
The property is located at 667 S Santa Fe Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Warehouse or studio building with three street frontages; High visibility on Santa Fe Ave with street frontage; Recent rezone provides a clear development path
