Freestanding Office Building with
For Sale
$685,000
690 W 18th Street, San Pedro, CA 90731
COMMERCIAL - San Pedro, CA
Property Size912 SF
Lot Size0.11 Acres
Price / SF$751.10
Days on Market52
Property Features for 690 W 18th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
South on Gaffey Street --> Destination is on the Left (east) on the Corner of Gaffey St and 18th St
Subdivision
185 - Plaza
Standard status
Active
APN
7462005028
Lot size
0.11 Acres
Utilities
Cooling system
Central Air
Building Details
Year built
1920
Listing Agency:
Strand Hill Properties
(310) 541-6566
Listed By:
Jake Sullivan · License #01970185
(310) 984-4608
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 6 at 7:06PM
MLS# PV26131686
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding office property at 690 W 18th Street includes a 912-square-foot commercial building on a 5,000-square-foot lot. The interior is arranged with a reception area, three private offices, a conference room, storage, kitchenette, bathroom, and private balcony. A detached garage and on-site parking are also included, with central air serving the building. The property was built in 1920.
The site fronts Gaffey Street in San Pedro and provides alley access. Its LAC2 zoning supports a range of permitted commercial uses, subject to buyer verification, including professional office, medical or wellness services, retail, creative office, counseling, educational, service-based, and food-related concepts. Two month-to-month occupants currently use the property: one occupies the building, while a food truck operator uses a portion of the site. Downtown San Pedro, the Port of Los Angeles, and the West Harbor waterfront development are located minutes away.
The site fronts Gaffey Street in San Pedro and provides alley access. Its LAC2 zoning supports a range of permitted commercial uses, subject to buyer verification, including professional office, medical or wellness services, retail, creative office, counseling, educational, service-based, and food-related concepts. Two month-to-month occupants currently use the property: one occupies the building, while a food truck operator uses a portion of the site. Downtown San Pedro, the Port of Los Angeles, and the West Harbor waterfront development are located minutes away.
Key Highlights
- 912‑square‑foot commercial building on a 5,000‑square‑foot lot
- LAC2 zoning with buyer verification of permitted commercial uses
- Reception area, 3 private offices, conference room, storage, kitchenette, bathroom, and private balcony
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
$21,647
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
3.16%
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%
$432,940
$432.9K
Cap Rate 7%
$309,243
$309.2K
Cap Rate 9%
$240,522
$240.5K
Market Conditions
NOI Build-Up for 912 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
$35.5K $38.88/SF
− Vacancy
−$6.6K −$7.23/SF
EGI
$28.9K $31.65/SF
− OpEx
−$7.2K −$7.91/SF
NOI
$21.6K $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%
$432,940
Cap Rate 7%
$309,243
Cap Rate 9%
$240,522
Alternative Uses
Best Use
Office B
$309.2K
$270.6K – $360.8K
NOI $21,647 @ 7.0% cap · market cap 3.16%
Second Best
Healthcare Medical
$241.6K
$211.4K – $281.9K
NOI $16,915 @ 7.0% cap · market cap 2.47%
Theoretical Best
Multifamily LT 5
$18.48M
$16.17M – $21.56M
NOI $1,293,360 @ 7.0% cap · market cap 188.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 90731, CA
61,270
Population
24,477
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
6,588
Density / Sq Mi
$71,936
Median Household Income
$41,324
Median Earnings
$1,645
Median Rent
$808,800
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?
Office building - LAC2-zoned property combines a practical office layout, detached garage, alley access, and current month-to-month occupancy.
Where is this office building located?
The property is located at 690 W 18th Street San Pedro, CA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 912‑square‑foot commercial building on a 5,000‑square‑foot lot; LAC2 zoning with buyer verification of permitted commercial uses; Reception area, 3 private offices, conference room, storage, kitchenette, bathroom, and private balcony
