Multi-Building Strip Retail
New
For Sale
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7201-7229 S Figueroa Street, Los Angeles, CA 90003
Food, convenience, and service businesses occupy a center at the signalized Figueroa Street and Florence Avenue intersection.
Property Size16,407 SF
Lot Size1.42 Acres
Price / SF$692.20
Days on Market5
Property Features for 7201-7229 S Figueroa Street
General Information
Standard status
Active
Size
16,407 SF
Lot size
1.42 Acres
Property subtype
Retail
Site & Location
Drive-Thru
Yes
Highway Access
Yes
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
CBRE - Orange County
Listed By:
David Swerdlow · License #02104458
(949) 769-4855
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 3:26PM
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 CBRE - Orange County
Investment Insights
Based on property information with market context.
Three retail buildings totaling approximately 16,407 SF sit on 1.42 acres divided among nine parcels. The center has seven tenants, including six whose operations at the property span at least a decade. Pizza Hut has been on site since 1996. A separate 2,828 SF freestanding building has drive-through facilities and is leased to The Wok Chinese Kitchen under a 15-year NNN lease.
The property is located at the signalized intersection of S Figueroa Street and W Florence Avenue in Los Angeles, with immediate proximity to the I-110 Freeway. Its tenant mix includes food, convenience, and service businesses.
The property is located at the signalized intersection of S Figueroa Street and W Florence Avenue in Los Angeles, with immediate proximity to the I-110 Freeway. Its tenant mix includes food, convenience, and service businesses.
Key Highlights
- Three retail buildings totaling approximately 16,407 SF
- 1.42 acres across nine separate parcels
- Seven tenants; six have operated at the property for 10 years or more
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
$414,719
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
3.65%
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%
$8,294,380
$8.3M
Cap Rate 7%
$5,924,557
$5.9M
Cap Rate 9%
$4,607,989
$4.6M
Market Conditions
NOI Build-Up for 16,407 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
$606.4K $36.96/SF
− Vacancy
−$13.9K −$0.85/SF
EGI
$592.5K $36.11/SF
− OpEx
−$177.7K −$10.83/SF
NOI
$414.7K $25.28/SF
Area
ZIP 90003
Vacancy
2.30%
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%
$8,294,380
Cap Rate 7%
$5,924,557
Cap Rate 9%
$4,607,989
Alternative Uses
Best Use
Retail
$5.92M
$5.18M – $6.91M
NOI $414,719 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Apartment 5plus
$290.06M
$253.81M – $338.41M
NOI $20,304,549 @ 7.0% cap · market cap 178.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
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?
Strip mall - Food, convenience, and service businesses occupy a center at the signalized Figueroa Street and Florence Avenue intersection.
Where is this strip mall located?
The property is located at 7201-7229 S Figueroa Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $11,357,000.
What are key features of this property?
This property features: Three retail buildings totaling approximately 16,407 SF; 1.42 acres across nine separate parcels; Seven tenants; six have operated at the property for 10 years or more
