Freestanding Office and Creative
For Sale
Contact for pricing
870 Vine Street, Los Angeles, CA 90038
Two-story freestanding building with elevator access and gated parking for about 40 vehicles.
Property Size14,809 SF
Price / SF$587.48
Days on Market112
Property Features for 870 Vine Street
General Information
Standard status
Active
Size
14,809 SF
Class
B
Property subtype
Office
Zoning
C2
Investment Type
Owner/User
Building Details
Year Built
1982
Buildings
1
Units
40
Listing Agency:
Lee & Associates - Los Angeles - West
Listed By:
andrew wilson · License #CA 00921356
Source:
Crexi
Added: May 19
Changed: Sep 6
Last Checked: Sep 7 at 7:14AM
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 - Los Angeles - West
Investment Insights
Based on property information with market context.
870 Vine Street is a two-story freestanding office and creative flex property with a versatile interior layout. The space includes private offices, collaborative bullpen areas, operable windows, elevator access, and configuration flexibility for single- or multi-tenant occupancy.
The property also offers gated parking for approximately 40 vehicles with valet capability, along with a roll-up door. Signage rights are available with city permits, and the building includes a secured bank vault with a door.
Located in Hollywood’s media and entertainment corridor, the building sits directly adjacent to Netflix’s expanding campus. It is surrounded by major production and studio operators, including Paramount Studios, Sunset Gower Studios, Milk Studios, and The Lot Studios. Flexible zoning is noted for the property.
The property also offers gated parking for approximately 40 vehicles with valet capability, along with a roll-up door. Signage rights are available with city permits, and the building includes a secured bank vault with a door.
Located in Hollywood’s media and entertainment corridor, the building sits directly adjacent to Netflix’s expanding campus. It is surrounded by major production and studio operators, including Paramount Studios, Sunset Gower Studios, Milk Studios, and The Lot Studios. Flexible zoning is noted for the property.
Key Highlights
- Two‑story freestanding office/creative flex building built in 1982
- Approximately 14,809 SF with elevator access
- Gated parking for about 40 vehicles with valet capability
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
$351,510
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
4.04%
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%
$7,030,200
$7.0M
Cap Rate 7%
$5,021,571
$5.0M
Cap Rate 9%
$3,905,667
$3.9M
Market Conditions
NOI Build-Up for 14,809 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
$575.8K $38.88/SF
− Vacancy
−$107.1K −$7.23/SF
EGI
$468.7K $31.65/SF
− OpEx
−$117.2K −$7.91/SF
NOI
$351.5K $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
25.00%
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%
$7,030,200
Cap Rate 7%
$5,021,571
Cap Rate 9%
$3,905,667
Alternative Uses
Best Use
Office B
$5.02M
$4.39M – $5.86M
NOI $351,510 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$300.02M
$262.52M – $350.03M
NOI $21,001,501 @ 7.0% cap · market cap 241.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 90038, CA
27,414
Population
14,998
Households
1.8
Avg Household Size
36
Median Age
41%
College-Educated
76%
High-School Grad
1.5 sq mi
ZIP Area
18,276
Density / Sq Mi
$61,566
Median Household Income
$36,844
Median Earnings
$1,764
Median Rent
$1,089,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story freestanding building with elevator access and gated parking for about 40 vehicles.
Where is this office building located?
The property is located at 870 Vine Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $8,700,000.
What are key features of this property?
This property features: Two‑story freestanding office/creative flex building built in 1982; Approximately 14,809 SF with elevator access; Gated parking for about 40 vehicles with valet capability
