Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Retail on West 3rd Title is generated by Realmo AI

    8361 - 8371 W 3rd St, Los Angeles, CA 90048

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Retail and restaurant property on West 3rd Street for sale.

    Type:Retail
    Property size:
    8,159 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $1,464/SF
    Added:
    Sep 14, 2022
    Days on Market:
    1358
    Last Refresh:
    May 19 at 9:13 pm

    Property Features for 8361 - 8371 W 3rd St

    General Information

    Standard status
    Active
    Size
    8,159 SF
    Lot size
    0.25 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1946

    We can help!

    Listing Contact
    Elizabeth Clark

    Listing agent Elizabeth Clark License #CA 01811246

    Listing office Kidder Matthews

    Listing date Sep 14, 2022

    Source Crexi

    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 Kidder Matthews

    HighLights

    • Prime West 3rd Street location between The Grove and The Beverly Center.
    • Significant upside potential to increase gross revenues.
    • Large 10,930 sq. ft. lot with 8,159 sq. ft. of retail space and 18‑car parking.
    • Over 100 feet of frontage on West 3rd Street.
    • Stable tenant base with many long‑term tenants.
    • Proximity to Cedars Sinai Hospital and densely populated residential neighborhoods.

    Overview

    Located on West 3rd Street in Los Angeles, this property features nine separate retail, beauty boutique, and restaurant locations, totaling approximately 8159 square feet. Situated on a 10,930 square foot lot, the property includes rear parking for 18 cars. The property has over 100 feet of frontage on West 3rd Street at the corner of West 3rd Street and Kings Road, between The Grove and The Beverly Center. The location is near Magnolia Bakery, Joan’s on Third, The Orlando Hotel, and Toca Madera, and is less than a 5-minute drive to The Grove, The Farmers Market, The Beverly Center, and Cedars Sinai. The property is adjacent to residential neighborhoods and experiences high foot traffic. The site is located near Cedars Sinai Hospital, which employs over 14,000 staff, including 2,000 physicians. The property houses long-term tenants and offers potential to increase gross revenues.
    Property Profile Location Intelligence

    Current Use by Public Records

    La La Land ... Cafe & Coffee Shop

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.3722984
    Latitude
    34.0730665

    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
    • $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
    • $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
    • $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
    • $905,000
      3,372 SF

      Los Angeles Quadruplex with Development Potential

      Four-unit income property with development potential in Vermont Square.
      1467 W Vernon, Los Angeles, CA 90062
      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
    • $1,450,000
      3,040 SF

      East LA Commercial Investment Opportunity

      Fully leased 2-unit commercial building on high-traffic Whittier Blvd.
      5110 Whittier, Los Angeles, CA 90022
      View Details
    • $2,900,000
      7,300 SF

      Modern Multifamily Community in Los Angeles

      Newly constructed five-unit multifamily property in Pico-Union, Los Angeles.
      1724 Menlo Avenue, Los Angeles, CA 90006
      View Details
    • $2,490,000
      6,216 SF

      Duplex and Multi-Unit Income Property

      Two-building residential income opportunity with a rear duplex ADU, updated interiors, and garage parking to support long-term cash flow.
      310 N St Andrews Pl, Los Angeles, CA 90004
      View Details
    • $2,750,000
      10,501 SF

      Mid-City Multifamily Investment Opportunity

      14-unit apartment building in a central Los Angeles location.
      1683 S Longwood, Los Angeles, CA 90019
      View Details
    • $2,195,000
      6,000 SF

      Boyle Heights Four-Unit Income Property

      Four units near Downtown LA and USC Medical Campus.
      2437 Malabar Street 2439, Los Angeles, CA 90033
      View Details
    • $1,295,000
      2,811 SF

      Three-Unit Income Property with ADU

      Well-maintained, fully occupied three-unit residence with newly added ADU and recent roof replacement for strong income potential.
      2663 Queen St, Los Angeles, CA 90039
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail and restaurant property on West 3rd Street for sale.
    Where is this retail space located?
    The property is located at 8361 - 8371 W 3rd St Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $11,950,000.
    What are key features of this property?
    This property features: Prime West 3rd Street location between The Grove and The Beverly Center.; Significant upside potential to increase gross revenues.; Large 10,930 sq. ft. lot with 8,159 sq. ft. of retail space and 18‑car parking.
    (424) 653-1820 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Elizabeth Clark
    Real Estate License ID: CA 01811246
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8361 - 8371 W 3rd St, Los Angeles, CA 90048
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!