Torrance Two-Story Office
For Sale
$2,400,000
2321 Torrance Boulevard, Torrance, CA 90501
Vacant 6,175 SF office building in the heart of Torrance.
Property Size6,175 SF
Price / SF$388.66
Days on Market660
Property Features for 2321 Torrance Boulevard
General Information
Standard status
Active
Size
6,175 SF
Property subtype
Office
Building Details
Building Size
6,175 SF
Year Built
1985
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Ryan Versfelt · License #02212779
(310) 425-9838
Source:
2buy
Added: Nov 12, 2024
Changed: Aug 28
Last Checked: Sep 2 at 12:32AM
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 Lyon Stahl Investment Real Estate, Inc.
Investment Insights
Based on property information with market context.
This vacant, two-story office building offers 6,175 square feet of space in Torrance. The property features a versatile layout that includes two large conference rooms, multiple private offices, and collaborative spaces. Floor-to-ceiling glass panels divide the interior spaces, allowing natural light throughout. The building also includes a spacious executive office with an ensuite full bathroom, a kitchenette with a sink, built-in microwave, and lounge area, as well as ample storage. There are five shared restrooms, with two located on the first floor and three on the second floor. The second floor is accessible by both front and rear stairwells, offering potential for subdivision into two separate units. The property provides nine on-site parking spaces, with ample street parking available. It also boasts approximately 45 feet of frontage along Torrance Blvd. The property qualifies for medical use. Exempt under AB2097, it is not subject to typical density and parking requirements. Delivered vacant, this property offers potential for immediate occupancy or leasing.
Key Highlights
- Exempt under AB2097: benefits from relaxed density and parking rules; suitable for medical use.
- Vacant 6,175 sq ft two‑story office building in central Torrance.
- Versatile layout featuring two large conference rooms, multiple private offices, and collaborative spaces.
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
$141,716
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
5.90%
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%
$2,834,320
$2.8M
Cap Rate 7%
$2,024,514
$2.0M
Cap Rate 9%
$1,574,622
$1.6M
Market Conditions
NOI Build-Up for 6,175 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
$222.3K $36.00/SF
− Vacancy
−$33.3K −$5.40/SF
EGI
$189.0K $30.60/SF
− OpEx
−$47.2K −$7.65/SF
NOI
$141.7K $22.95/SF
Area
Torrance, CA
Vacancy
15.00%
Lease Rate
$36.00 /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%
$2,834,320
Cap Rate 7%
$2,024,514
Cap Rate 9%
$1,574,622
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,716 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$125.10M
$109.46M – $145.95M
NOI $8,757,125 @ 7.0% cap · market cap 364.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 90501, CA
43,990
Population
15,867
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
88%
High-School Grad
5.7 sq mi
ZIP Area
7,718
Density / Sq Mi
$92,815
Median Household Income
$43,526
Median Earnings
$1,868
Median Rent
$887,300
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 - Vacant 6,175 SF office building in the heart of Torrance.
Where is this office building located?
The property is located at 2321 Torrance Boulevard Torrance, CA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Exempt under AB2097: benefits from relaxed density and parking rules; suitable for medical use.; Vacant 6,175 sq ft two‑story office building in central Torrance.; Versatile layout featuring two large conference rooms, multiple private offices, and collaborative spaces.
