Building Details

Building Size 4,275 SF

Year Built 1924

Listing Agency: Lee & Associates

Listed By: Jim Halferty · License #CalDRE #01212024 Show Phone

Source: Lee-associates

Added: Nov 26, 2025 Changed: Oct 27 Last Checked: Oct 26 at 2:43PM

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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 Lee & Associates

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Investment Insights

Based on property information with market context.

This retail property is located on Melrose Avenue, between La Brea Avenue and Fairfax Avenue, in the Melrose Avenue Shopping District. The property offers parking and loading access via a rear alley. The location is near shops, restaurants, and other area amenities. The daily traffic count is approximately 30,000 cars per day. The property size is 4,275 square feet. It may be possible to divide the property into two stores. This property presents a rare opportunity for an owner/user to purchase in a prime retail location.

Key Highlights

• Prime retail location on Melrose Avenue.
• High traffic count (approx. 30,000 cars per day).
• Rare owner/user opportunity.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$99,211

Cap Rate

4.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,984,220 $2.0M

Cap Rate 7%

$1,417,300 $1.4M

Cap Rate 9%

$1,102,344 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,275 SF

Gross rent

$158.0K $36.96/SF

− Vacancy

−$16.3K −$3.81/SF

EGI

$141.7K $33.15/SF

− OpEx

−$42.5K −$9.95/SF

NOI

$99.2K $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 Rate 5%

$1,984,220

Cap Rate 7%

$1,417,300

Cap Rate 9%

$1,102,344

Alternative Uses

Best Use

Retail

$1.42M

$1.24M – $1.65M (±1% cap)

NOI $99,211 @ 7.0% cap · market cap 4.05%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$86.61M

$75.78M – $101.04M (±1% cap)

NOI $6,062,625 @ 7.0% cap · market cap 247.45%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Adult Day Care Clothing & Fashion Store Restaurant Tanning Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,398

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 90046, CA

49,987

Population

31,929

Households

1.6

Avg Household Size

39

Median Age

63%

College-Educated

95%

High-School Grad

5.7 sq mi

ZIP Area

8,770

Density / Sq Mi

$94,259

Median Household Income

$65,607

Median Earnings

$2,204

Median Rent

$1,411,500

Median Home Value

Market

Vacancy Rate% for Retail in Los Angeles, CA

5.7% 2019

6.1% 2020

6% 2021

5.7% 2022

5.6% 2023

6% 2024

6.2% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Prime retail location on Melrose Avenue for sale.

Where is this storefront property located?

The property is located at 7415 - 7417 Melrose Ave Los Angeles, CA.

What is the asking price?

The asking price for this property is $2,450,000.

What are key features of this property?

This property features: Prime retail location on Melrose Avenue.; High traffic count (approx. 30,000 cars per day).; Rare owner/user opportunity.