Multi-Tenant Retail Strip
New
For Sale
Contact for pricing
9346-9350 Corbin Avenue, Los Angeles, CA 91324
Renovations in 2021/2022 updated this retail property for multiple occupants.
Property Size12,570 SF
Lot Size0.53 Acres
Price / SF$604.61
Days on Market6
Property Features for 9346-9350 Corbin Avenue
General Information
Standard status
Active
Size
12,570 SF
Lot size
0.53 Acres
Property subtype
Retail
Building Details
Year Built
1972
Tenancy
Multi
Listing Agency:
Cushman & Wakefield - Irvine Orange County, California
Listed By:
Joseph Lising · License #CA 01248258
(949) 372-4896
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 2:52PM
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 Cushman & Wakefield - Irvine Orange County, California
Investment Insights
Based on property information with market context.
This multi-tenant strip center contains 12,570 square feet on a 23,275-square-foot site, or 0.53 acres. Built in 1972, the property underwent significant renovation in 2021/2022.
The center is at 9346-9350 Corbin Avenue in Los Angeles, with frontage on Corbin Avenue. The surrounding area includes residential, office, and commercial development, and the thoroughfare carries daily traffic counts exceeding 30,000 vehicles.
The center is at 9346-9350 Corbin Avenue in Los Angeles, with frontage on Corbin Avenue. The surrounding area includes residential, office, and commercial development, and the thoroughfare carries daily traffic counts exceeding 30,000 vehicles.
Key Highlights
- 12,570‑square‑foot multi‑tenant strip center
- 23,275‑square‑foot site (0.53 acres)
- Originally built in 1972; significantly renovated in 2021/2022
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
$291,714
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
3.84%
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%
$5,834,280
$5.8M
Cap Rate 7%
$4,167,343
$4.2M
Cap Rate 9%
$3,241,267
$3.2M
Market Conditions
NOI Build-Up for 12,570 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
$464.6K $36.96/SF
− Vacancy
−$47.9K −$3.81/SF
EGI
$416.7K $33.15/SF
− OpEx
−$125.0K −$9.95/SF
NOI
$291.7K $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%
$5,834,280
Cap Rate 7%
$4,167,343
Cap Rate 9%
$3,241,267
Alternative Uses
Best Use
Retail
$4.17M
$3.65M – $4.86M
NOI $291,714 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$254.66M
$222.83M – $297.10M
NOI $17,826,246 @ 7.0% cap · market cap 234.56%
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
2,128
Businesses Nearby
739k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 38%
Dining 34%
Shops & Services 10%
Leisure 10%
Macy's
Apparel
105,242 visits/mo
0.5 miles
Ross Dress for Less
Apparel
73,130 visits/mo
0.5 miles
AMC Northridge 10
Leisure
71,431 visits/mo
0.4 miles
JCPenney
Apparel
66,411 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
56,662 visits/mo
0.3 miles
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 Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Renovations in 2021/2022 updated this retail property for multiple occupants.
Where is this strip mall located?
The property is located at 9346-9350 Corbin Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $7,600,000.
What are key features of this property?
This property features: 12,570‑square‑foot multi‑tenant strip center; 23,275‑square‑foot site (0.53 acres); Originally built in 1972; significantly renovated in 2021/2022
