Neighborhood Retail
For Sale
$4,500,000
8707 Lindley Ave, Northridge, CA
Nine-unit NNN retail center on a signalized intersection near CSUN, offering value-add potential for qualified investors.
Property Size11,050 SF
Lot Size0.44 Acres
Price / SF$407.24
Days on Market49
Property Features for 8707 Lindley Ave
General Information
Standard status
Active
Size
11,050 SF
Lot size
0.44 Acres
Property subtype
Retail
Additional Details
Cap Rate
5.03%
Road Access
Yes
Building Details
Year Built
1986
Tenancy
Multi
Listing Agency:
CBM1, Inc.
(818) 854-0861
Listed By:
David Guardado · License #CalDRE #1837493
(818) 854-0861
Source:
Cbm1
Added: Jun 24
Changed: Jul 10
Last Checked: Aug 11 at 5:25AM
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 CBM1, Inc.
Investment Insights
Based on property information with market context.
A 9-unit neighborhood shopping center is offered for sale in Northridge. The property includes a single 11,050 SF building on a 19,166 SF lot, constructed in 1986. It is operated as an NNN lease investment, providing a multi-tenant retail configuration that can support a range of neighborhood-serving uses.
The center is situated on a major signalized intersection at Lindley and Parthenia, with placement described as convenient and accessible for surrounding retail traffic. The offering is also noted as being near CSUN, aligning the asset with demand from a consistently active local corridor.
From an investment standpoint, the seller frames this as a value-add opportunity. The public remarks cite a current cap rate of 5.03% on NOI of $226,376, with a pro forma cap rate of 6.66% and pro forma NOI of $298,545.72. For buyers, this combination of an NNN structure, multi-unit layout, and identified value-add underwriting parameters may be particularly relevant for investors seeking a neighborhood retail holding with room to execute within the pro forma scenario.
The center is situated on a major signalized intersection at Lindley and Parthenia, with placement described as convenient and accessible for surrounding retail traffic. The offering is also noted as being near CSUN, aligning the asset with demand from a consistently active local corridor.
From an investment standpoint, the seller frames this as a value-add opportunity. The public remarks cite a current cap rate of 5.03% on NOI of $226,376, with a pro forma cap rate of 6.66% and pro forma NOI of $298,545.72. For buyers, this combination of an NNN structure, multi-unit layout, and identified value-add underwriting parameters may be particularly relevant for investors seeking a neighborhood retail holding with room to execute within the pro forma scenario.
Key Highlights
- 9‑unit NNN retail center with a 11050 SF building on a 19,166 SF lot
- Built in 1986; located near CSUN on a major signalized intersection at Lindley + Parthenia
- Current cap rate 5.03% with NOI of $226,376
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
$256,439
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
5.70%
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%
$5,128,780
$5.1M
Cap Rate 7%
$3,663,414
$3.7M
Cap Rate 9%
$2,849,322
$2.8M
Market Conditions
NOI Build-Up for 11,050 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
$408.4K $36.96/SF
− Vacancy
−$42.1K −$3.81/SF
EGI
$366.3K $33.15/SF
− OpEx
−$109.9K −$9.95/SF
NOI
$256.4K $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 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%
$5,128,780
Cap Rate 7%
$3,663,414
Cap Rate 9%
$2,849,322
Alternative Uses
Best Use
Retail
$3.66M
$3.21M – $4.27M
NOI $256,439 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$223.87M
$195.88M – $261.18M
NOI $15,670,646 @ 7.0% cap · market cap 348.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,186
Businesses Nearby
148k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 18%
Home Improvements & Furnishings 10%
Chili's Grill & Bar
Dining
32,867 visits/mo
0.5 miles
Starbucks
Dining
18,877 visits/mo
0.5 miles
Harbor Freight Tools
Home Improvements & Furnishings
14,912 visits/mo
0.5 miles
AutoZone
Shops & Services
13,637 visits/mo
0.5 miles
76
Shops & Services
12,659 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Nine-unit NNN retail center on a signalized intersection near CSUN, offering value-add potential for qualified investors.
Where is this shopping center located?
The property is located at 8707 Lindley Ave Northridge, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 9‑unit NNN retail center with a 11050 SF building on a 19,166 SF lot; Built in 1986; located near CSUN on a major signalized intersection at Lindley + Parthenia; Current cap rate 5.03% with NOI of $226,376
