NNN Retail Center Redevelopment Site

698 S Vermont Ave, Los Angeles, CA 90005

View on Map

New

For Sale

$17,950,000

Fully operational NNN retail center on a signalized corner with C2-2 zoning supporting major redevelopment flexibility.

Type:Shopping Strip

Property size:

16,451 SF

Price / SF:

$1,091/SF

HighLights

0.6‑acre Koreatown site at the signalized NE corner of Vermont Ave and 7th St
Fully operational 16,451‑SF retail center with 14 tenants on NNN leases
C2‑2 zoning with 6:1 FAR; residential density defaults to R4
Tenant coverage includes a 605‑SF building management office on‑site
Year built: 1984

We can help!

Listing Contact

William Kim

Learn more

For Sale

$17,950,000

Fully operational NNN retail center on a signalized corner with C2-2 zoning supporting major redevelopment flexibility.

Type:Shopping Strip

Property size:

16,451 SF

Price / SF:

$1,091/SF

Added:: Jun 9, 2026
Days on Market:: 3
Last Refresh:: Jun 11 at 3:06 am

Property Features for 698 S Vermont Ave

General Information

Standard status: Active
Size: 16,451 SF
Property subtype: Shopping Strip

Building Details

Year Built: 1984

We can help!

Listing Contact

William Kim

Listing agent William Kim License #License(s): CA: 01344741, TX: 755628, NV: S.0204443

Listing office Marcus & Millichap | Dallas

Listing date Jun 9, 2026

Source Marcusmillichap

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 Marcus & Millichap | Dallas

HighLights

0.6‑acre Koreatown site at the signalized NE corner of Vermont Ave and 7th St
Fully operational 16,451‑SF retail center with 14 tenants on NNN leases
C2‑2 zoning with 6:1 FAR; residential density defaults to R4
Tenant coverage includes a 605‑SF building management office on‑site
Year built: 1984

Overview

The property consists of an existing 16,451-square-foot retail center on a 0.6-acre trophy lot. The center is currently fully operational and features 14 tenants on NNN leases, supported by a 605-square-foot building management office. The asset is presented as a redevelopment platform with an emphasis on unlimited-height development opportunity under the existing entitlement framework described in the offering.

The site is located at the signalized northeast corner of Vermont Avenue and 7th Street in Los Angeles. It is positioned in the heart of Koreatown and is described as being one block south of the Wilshire Center corridor, directly across from the Bank of Hope high-rise.

From a development standpoint, the property is marketed with C2-2 zoning and a described 6:1 Floor Area Ratio (FAR). The offering notes residential density defaulting to R4, and it outlines a by-right development approach with flexibility for uses such as premier retail, multi-family luxury apartments, corporate offices, or a flagship mixed-use high-rise. For buyers or operators seeking an existing income-producing retail asset while pursuing a higher-and-better development plan, this site combines an operating tenant base with redevelopment upside supported by the zoning parameters stated in the materials.

Location Intelligence

Current Use by Public Records

thai ancient massage Alternative Medicine Practice Alchemist Coffee Project Cafe & Coffee Shop Banco Industrial Bank 7th Korean BBQ Korean Restaurant 행복 이발관 Barber Shop

Suggested Use

Location Insight

Map
Local Demand

City: Los Angeles
County: Los Angeles
State: California
Longitude: -118.29144
Latitude: 34.06011

Nearby Similar for Sale

$2,600,000

10,944 SF

Los Angeles Commercial Investment Opportunity

Prime investment property in the heart of the Fashion District.

1212 S San Pedro Street, Los Angeles, CA 90015

View Details
$1,199,999

2,526 SF

Los Angeles Retail Opportunity

Single-tenant retail asset with high visibility and growth potential.

4254 Floral, Los Angeles, CA 90063

View Details
$3,990,000

8,688 SF

Prime Automotive Land in Los Angeles

Six parcels with buildings in established automotive corridor.

125 E Florence Ave, Los Angeles, CA 90003

View Details
$950,000

3,040 SF

Los Angeles Industrial Owner-User Opportunity

Rare industrial building in central Los Angeles, ideal for owner-users.

1915 S Santa Fe, Los Angeles, CA 90021

View Details
$1,175,000

1,617 SF

Eagle Rock Commercial/Residential Opportunity

Commercially zoned property in Eagle Rock, ideal for live/work.

1063 Colorado, Los Angeles, CA 90041

View Details
$2,099,000

10,233 SF

Multifamily Property in Boyle Heights

12-unit multifamily property in prime Boyle Heights, Los Angeles.

117 N St Louis, Los Angeles, CA 90033

View Details
$1,999,000

12,306 SF

Los Angeles Multifamily Investment Opportunity

Classic 11-unit Spanish Colonial near Downtown Los Angeles.

2375 W 12th St, Los Angeles, CA 90006

View Details
$2,295,000

10,492 SF

Highland Park Multifamily Value-Add Opportunity

14-unit apartment building in a sought-after Los Angeles location.

820 Chestnut Ave, Los Angeles, CA 90042

View Details
$895,000

3,372 SF

Four-Unit Residential Income Property

Four-unit building with ample rear parking, including three 1-bedroom units and a 3-bedroom delivered vacant at close.

1467 W Vernon, Los Angeles, CA 90062

View Details
$2,595,000

6,578 SF

6-Unit Apartment Campus with ADU Plans

Newer 2017-built six-unit campus of three duplexes plus planned tiny home ADUs, with separately metered utilities.

3672 Percy, Los Angeles, CA 90023

View Details
$1,556,000

3,999 SF

Adjacent 11-Unit Residential Income Properties

Two adjacent multifamily buildings with 11 units on an LAR4-zoned lot, offering income and development flexibility.

964 S New Hampshire Ave, Los Angeles, CA 90006

View Details
$2,334,000

3,786 SF

Apartment Income Property with Covered Parking

Two adjacent apartment buildings with 11 total units, covered parking, and LAR4 zoning sold concurrently.

968 S New Hampshire Ave, Los Angeles, CA 90006

View Details

For sale
Strip malls
CA
Los Angeles
90005
698 S Vermont Ave

What type of property is this?

Strip mall - Fully operational NNN retail center on a signalized corner with C2-2 zoning supporting major redevelopment flexibility.

Where is this strip mall located?

The property is located at 698 S Vermont Ave Los Angeles, CA.

What is the asking price?

The asking price for this property is $17,950,000.

What are key features of this property?

This property features: 0.6‑acre Koreatown site at the signalized NE corner of Vermont Ave and 7th St; Fully operational 16,451‑SF retail center with 14 tenants on NNN leases; C2‑2 zoning with 6:1 FAR; residential density defaults to R4

698 S Vermont Ave, Los Angeles, CA 90005

Fully operational NNN retail center on a signalized corner with C2-2 zoning supporting major redevelopment flexibility.

Property Features for 698 S Vermont Ave

General Information

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Los Angeles Commercial Investment Opportunity

Los Angeles Retail Opportunity

Prime Automotive Land in Los Angeles

Los Angeles Industrial Owner-User Opportunity

Eagle Rock Commercial/Residential Opportunity

Multifamily Property in Boyle Heights

Los Angeles Multifamily Investment Opportunity

Highland Park Multifamily Value-Add Opportunity

Four-Unit Residential Income Property

6-Unit Apartment Campus with ADU Plans

Adjacent 11-Unit Residential Income Properties

Apartment Income Property with Covered Parking

FAQs

Create New Password