Vacant Retail
For Sale
Contact for pricing
8921 W PICO BLVD, Los Angeles, CA 90035
Single-tenant space offered vacant along Pico Boulevard in West Los Angeles.
Property Size6,910 SF
Price / SF$578.87
Days on Market131
Property Features for 8921 W PICO BLVD
General Information
Standard status
Active
Size
6,910 SF
Property subtype
Retail
Investment Type
Value Add
Building Details
Year Built
1934
Year Renovated
2026
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Anthony Cohen · License #CA 02097395
Source:
Crexi
Added: Apr 23
Changed: Aug 29
Last Checked: Aug 29 at 9:09PM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
This single-tenant storefront property comprises 6,910 square feet and is offered vacant, giving an owner-user or investor the ability to shape the premises without an existing lease in place. Constructed in 1934, the building presents a retail-focused commercial asset on Pico Boulevard.
The property is located in the Pico Robertson neighborhood of Los Angeles, with frontage and visibility along the boulevard. Beverly Hills and Century City are immediately nearby, while the broader setting is identified as West Los Angeles. Its vacant delivery and established retail format support a range of future commercial configurations, subject to applicable approvals.
The property is located in the Pico Robertson neighborhood of Los Angeles, with frontage and visibility along the boulevard. Beverly Hills and Century City are immediately nearby, while the broader setting is identified as West Los Angeles. Its vacant delivery and established retail format support a range of future commercial configurations, subject to applicable approvals.
Key Highlights
- 6,910‑square‑foot single‑tenant retail property
- Delivered vacant without an existing lease
- Frontage and visibility along Pico Boulevard
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
$160,362
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
4.01%
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%
$3,207,240
$3.2M
Cap Rate 7%
$2,290,886
$2.3M
Cap Rate 9%
$1,781,800
$1.8M
Market Conditions
NOI Build-Up for 6,910 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
$255.4K $36.96/SF
− Vacancy
−$26.3K −$3.81/SF
EGI
$229.1K $33.15/SF
− OpEx
−$68.7K −$9.95/SF
NOI
$160.4K $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%
$3,207,240
Cap Rate 7%
$2,290,886
Cap Rate 9%
$1,781,800
Alternative Uses
Best Use
Retail
$2.29M
$2.00M – $2.67M
NOI $160,362 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$139.99M
$122.49M – $163.32M
NOI $9,799,472 @ 7.0% cap · market cap 244.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,586
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 90035, CA
30,294
Population
13,795
Households
2.2
Avg Household Size
37
Median Age
68%
College-Educated
95%
High-School Grad
2.3 sq mi
ZIP Area
13,171
Density / Sq Mi
$108,224
Median Household Income
$67,202
Median Earnings
$2,486
Median Rent
$1,844,000
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
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Frequently Asked Questions
What type of property is this?
Storefront property - Single-tenant space offered vacant along Pico Boulevard in West Los Angeles.
Where is this storefront property located?
The property is located at 8921 W PICO BLVD Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 6,910‑square‑foot single‑tenant retail property; Delivered vacant without an existing lease; Frontage and visibility along Pico Boulevard
