Signalized Corner Development
For Sale
$3,999,000
6961 Van Nuys, Los Angeles, CA 91405
Signalized corner property currently includes a mechanic shop and multiple active retail storefronts.
Property Size6,938 SF
Days on Market119
Property Features for 6961 Van Nuys
General Information
Standard status
Active
Size
6,938 SF
Property subtype
Commercial
Building Details
Building Size
6,938 SF
Listing Agency:
Coldwell Banker Quality Properties
Listed By:
Janet Aguilera · License #01488231
(310) 724-7100
Source:
Elliman
Added: May 10
Changed: Sep 2
Last Checked: Sep 5 at 8:54AM
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 Coldwell Banker Quality Properties
Investment Insights
Based on property information with market context.
This signalized corner development site is currently improved with a mechanic shop and several active retail storefronts. The property is positioned at the intersection of Van Nuys Boulevard and Hart Street in Van Nuys, CA.
An adjacent lot is also currently available for purchase through a different broker, creating the opportunity to assemble contiguous property on the corner. Together, the parcels are described as offering an expansive footprint of approximately 54,000 square feet of contiguous property.
An adjacent lot is also currently available for purchase through a different broker, creating the opportunity to assemble contiguous property on the corner. Together, the parcels are described as offering an expansive footprint of approximately 54,000 square feet of contiguous property.
Key Highlights
- Signalized corner at Van Nuys Blvd & Hart St in Van Nuys, CA
- Approximately 54,000 SF contiguous footprint combining two adjacent parcels
- Current uses include a mechanic shop plus multiple active retail storefronts
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
$161,011
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
4.03%
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%
$3,220,220
$3.2M
Cap Rate 7%
$2,300,157
$2.3M
Cap Rate 9%
$1,789,011
$1.8M
Market Conditions
NOI Build-Up for 6,938 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
$256.4K $36.96/SF
− Vacancy
−$26.4K −$3.81/SF
EGI
$230.0K $33.15/SF
− OpEx
−$69.0K −$9.95/SF
NOI
$161.0K $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%
$3,220,220
Cap Rate 7%
$2,300,157
Cap Rate 9%
$1,789,011
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.68M
NOI $161,011 @ 7.0% cap · market cap 4.03%
Second Best
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,188 @ 7.0% cap · market cap 2.16%
Theoretical Best
Multifamily LT 5
$140.56M
$122.99M – $163.99M
NOI $9,839,180 @ 7.0% cap · market cap 246.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,266
Businesses Nearby
255k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 24%
Groceries 13%
Electronics 4%
Jons Marketplace
Groceries
34,248 visits/mo
0.4 miles
Starbucks
Dining
30,784 visits/mo
0.2 miles
McDonald's
Dining
24,189 visits/mo
0.1 miles
PLS Financial Services
Shops & Services
17,136 visits/mo
0.2 miles
LUV Car Wash
Shops & Services
15,540 visits/mo
0.3 miles
Demographics for 91405, CA
55,319
Population
19,822
Households
2.8
Avg Household Size
36
Median Age
26%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
16,270
Density / Sq Mi
$61,207
Median Household Income
$34,833
Median Earnings
$1,736
Median Rent
$698,100
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?
Commercial land - Signalized corner property currently includes a mechanic shop and multiple active retail storefronts.
Where is this commercial land located?
The property is located at 6961 Van Nuys Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,999,000.
What are key features of this property?
This property features: Signalized corner at Van Nuys Blvd & Hart St in Van Nuys, CA; Approximately 54,000 SF contiguous footprint combining two adjacent parcels; Current uses include a mechanic shop plus multiple active retail storefronts
