Two-Story Office
New
For Sale
$430,000
9010 Corbin Avenue, Northridge, CA 91324
The property has a multi-tenant configuration across two levels.
Property Size1,130 SF
Days on Market3
Property Features for 9010 Corbin Avenue
General Information
Standard status
Active
Size
1,130 SF
Property subtype
Office
Building Details
Building Size
1,130 SF
Stories
2
Tenancy
Multi
Listing Agency:
Lee & Associates - LA North - Westlake Village
(818) 444-4984
Listed By:
Eric Nishimoto · License #CalDRE #01462339
Source:
Lee-associates
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 12:05PM
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 - LA North - Westlake Village
Investment Insights
Based on property information with market context.
This office condominium is arranged as a two-story, multi-tenant property. The asset is located at 9010 Corbin Avenue in Northridge, California, within the 91324 ZIP code.
Key Highlights
- Two‑story office condominium
- Multi‑tenant office configuration
- 9010 Corbin Avenue address
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
$26,822
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
6.24%
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%
$536,440
$536.4K
Cap Rate 7%
$383,171
$383.2K
Cap Rate 9%
$298,022
$298.0K
Market Conditions
NOI Build-Up for 1,130 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
$43.9K $38.88/SF
− Vacancy
−$8.2K −$7.23/SF
EGI
$35.8K $31.65/SF
− OpEx
−$8.9K −$7.91/SF
NOI
$26.8K $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%
$536,440
Cap Rate 7%
$383,171
Cap Rate 9%
$298,022
Alternative Uses
Best Use
Office B
$383.2K
$335.3K – $447.0K
NOI $26,822 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$22.89M
$20.03M – $26.71M
NOI $1,602,519 @ 7.0% cap · market cap 372.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,852
Businesses Nearby
Explore this area
Business Placement
Demographics for 91324, CA
29,500
Population
11,408
Households
2.6
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
6,860
Density / Sq Mi
$99,834
Median Household Income
$46,513
Median Earnings
$2,286
Median Rent
$869,200
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 units - The property has a multi-tenant configuration across two levels.
Where is this office units located?
The property is located at 9010 Corbin Avenue Northridge, CA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two‑story office condominium; Multi‑tenant office configuration; 9010 Corbin Avenue address
