Historic Brick Creative
For Sale
Contact for pricing
676 N Spring St, Los Angeles, CA 90012
Brick-and-timber interiors feature exposed ceilings, a landscaped patio, and a custom kitchenette for collaborative work.
Property Size4,850 SF
Price / SF$617.53
Days on Market59
Property Features for 676 N Spring St
General Information
Standard status
Active
Size
4,850 SF
Property subtype
Retail, Office
Investment Type
Owner/User
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
landscaped outdoor patio with BBQ and outdoor seating
custom kitchenette
steel framed conference room
keyless entry
security cameras
exposed wood ceilings
brick walls
marble kitchen countertops
marble bathrooms
Building Details
Construction
brick and timber
Listing Agency:
Industry Partners
Listed By:
Rich Maloof · License #CA 02009527
Source:
Crexi
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 29 at 3:22PM
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 Industry Partners
Investment Insights
Based on property information with market context.
This 4,850-square-foot creative space combines historic brick and timber construction with exposed wood ceilings, brick walls, and ceiling heights reaching 20 feet. Steel-framed doors and windows, a walnut-cabinet kitchenette, a steel-framed conference room, and marble countertops and bathroom finishes add distinctive architectural detail. The property also includes a landscaped outdoor patio with barbecue equipment and seating.
The space is within walking distance of Union Station and the Metro Gold Line, with the Arts District, Silver Lake, and Little Tokyo nearby. Sunset Boulevard and the 101 and 110 Freeways provide regional access. Street parking and public parking lots are available nearby. Building systems include latch-based keyless entry with personalized smart access and 360 Rhombus security cameras.
The space is within walking distance of Union Station and the Metro Gold Line, with the Arts District, Silver Lake, and Little Tokyo nearby. Sunset Boulevard and the 101 and 110 Freeways provide regional access. Street parking and public parking lots are available nearby. Building systems include latch-based keyless entry with personalized smart access and 360 Rhombus security cameras.
Key Highlights
- 4,850‑square‑foot creative space with brick‑and‑timber construction
- Ceiling heights reach up to 20 feet
- Landscaped outdoor patio with BBQ and outdoor seating
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
$115,121
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
3.84%
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%
$2,302,420
$2.3M
Cap Rate 7%
$1,644,586
$1.6M
Cap Rate 9%
$1,279,122
$1.3M
Market Conditions
NOI Build-Up for 4,850 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
$188.6K $38.88/SF
− Vacancy
−$35.1K −$7.23/SF
EGI
$153.5K $31.65/SF
− OpEx
−$38.4K −$7.91/SF
NOI
$115.1K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$2,302,420
Cap Rate 7%
$1,644,586
Cap Rate 9%
$1,279,122
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $115,121 @ 7.0% cap · market cap 3.84%
Second Best
Retail
$1.61M
$1.41M – $1.88M
NOI $112,555 @ 7.0% cap · market cap 3.76%
Theoretical Best
Multifamily LT 5
$98.26M
$85.98M – $114.63M
NOI $6,878,066 @ 7.0% cap · market cap 229.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 90012, CA
33,851
Population
16,541
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
77%
High-School Grad
3.6 sq mi
ZIP Area
9,403
Density / Sq Mi
$67,635
Median Household Income
$44,901
Median Earnings
$2,116
Median Rent
$686,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Creative space - Brick-and-timber interiors feature exposed ceilings, a landscaped patio, and a custom kitchenette for collaborative work.
Where is this creative space located?
The property is located at 676 N Spring St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 4,850‑square‑foot creative space with brick‑and‑timber construction; Ceiling heights reach up to 20 feet; Landscaped outdoor patio with BBQ and outdoor seating
