Melrose Avenue Retail/Office
7661 Melrose Avenue Los Angeles, CA 90046
For Sale
$3,250,000
Prime location with immediate cash flow and value-add potential.
Property Size7,316 SF
Price / SF$444.23
Days on Market124
Property Features for 7661 Melrose Avenue
General Information
- Standard status
- Active
- Size
- 7,316 SF
- Property subtype
- Retail
Listing Agency:
(310) 650-7545
Listed By:
Ryan Gurman · License #01972081
(310) 650-7545
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Jul 26 at 4:21AM
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 Ryan Gurman
Investment Insights
Based on property information with market context.
Located at 7661-7663 Melrose Avenue, this property offers an investment or owner-user opportunity. The property, totaling approximately 7,316 square feet, is situated near the intersection of Melrose and Fairfax, in a shopping district. The property provides immediate stability from a ground-floor tenant and value-add potential on the second floor. The ground floor features THEIA Mediterranean Restaurant & Bar, a newly renovated, long-term tenant providing immediate cash flow. The vacant second floor is suitable for an owner-user or a secondary lease. Secured on-site parking is available at the rear. The location benefits from high foot traffic near Fairfax High School, Blu Jam Cafe, and Urban Outfitters.
Key Highlights
- Prime location in a high‑foot‑traffic area near Melrose and Fairfax.
- Immediate cash flow from a newly renovated, long‑term anchor tenant (THEIA Mediterranean Restaurant & Bar).
- Significant value‑add potential with a vacant 2nd floor.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $270.4k | $36.96 |
| − Vacancy | −$27.9k | −$3.81 |
| EGI | $242.5k | $33.15 |
| − OpEx | −$72.8k | −$9.95 |
| NOI | $169.8k | $23.21 |
7,316 SF · lease $36.96/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.43M
$2.12M – $2.83M
NOI $169,784 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$148.22M
$129.69M – $172.92M
NOI $10,375,244 @ 7.0% cap · market cap 319.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Comedy Office
Nightclub
Maya
Hair Salon
Manicures & Pedicures Losa
Nail Salon
Melrose Beauty Bar
Hair Salon
Durango Cantina
Restaurant
FAQs
What type of property is this?
Retail space - Prime location with immediate cash flow and value-add potential.
Where is this retail space located?
The property is located at 7661 Melrose Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Prime location in a high‑foot‑traffic area near Melrose and Fairfax.; Immediate cash flow from a newly renovated, long‑term anchor tenant (THEIA Mediterranean Restaurant & Bar).; Significant value‑add potential with a vacant 2nd floor.
