Northridge Retail Strip Center For
For Sale
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9346 Corbin Ave, Los Angeles, CA 91324
Stabilized multi-tenant strip center in a high-traffic Los Angeles location.
Property Size12,570 SF
Lot Size0.53 Acres
Price / SF$634.21
Days on Market199
Property Features for 9346 Corbin Ave
General Information
Standard status
Active
Size
12,570 SF
Lot size
0.53 Acres
Property subtype
Retail
Zoning
[T][Q]C2-1
Building Details
Year Built
1972
Listing Agency:
Cushman & Wakefield - Irvine Orange County, California
(949) 372-4896
Listed By:
Joseph Lising · License #CA 01248258
Source:
Crexi
Added: Jan 23
Changed: Aug 8
Last Checked: Aug 8 at 2:50PM
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.
Located in Northridge, Los Angeles, 9346-9350 Corbin Avenue is a stabilized commercial property. The multi-tenant strip center, built in 1972 and significantly renovated in 2021/2022, contains 12,570 square feet and is situated on a 23,275-square-foot site (0.53-acres). The property benefits from frontage on Corbin Avenue, a key arterial thoroughfare with daily traffic counts exceeding 30,000 vehicles. The surrounding area includes residential, office, and commercial developments.
Key Highlights
- Stabilized commercial property in Northridge, Los Angeles
- Significant renovation completed in 2021/2022
- High‑traffic location on Corbin Avenue with over 30,000 vehicles daily
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
3.66%
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 3.66%
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 223.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,852
Businesses Nearby
1M
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 27%
Dining 24%
Superstores 14%
Shops & Services 12%
Target
Superstores
138,854 visits/mo
0.4 miles
DICK'S Sporting Goods
Apparel
118,235 visits/mo
0.5 miles
AMC Northridge 10
Leisure
71,431 visits/mo
0.5 miles
JCPenney
Apparel
66,411 visits/mo
0.4 miles
Kohl's
Apparel
57,925 visits/mo
0.5 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 - Stabilized multi-tenant strip center in a high-traffic Los Angeles location.
Where is this strip mall located?
The property is located at 9346 Corbin Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $7,972,076.
What are key features of this property?
This property features: Stabilized commercial property in Northridge, Los Angeles; Significant renovation completed in 2021/2022; High‑traffic location on Corbin Avenue with over 30,000 vehicles daily
