Single-Tenant Industrial NNN
For Sale
Contact for pricing
936 East 31st Street, Los Angeles, CA 90011
Modern tilt-up warehouse with 2024 roof replacement and Absolute NNN structure placing taxes, insurance, utilities on the tenant.
Property Size28,450 SF
Lot Size0.96 Acres
Price / SF$315.99
Days on Market59
Property Features for 936 East 31st Street
General Information
Standard status
Active
Size
28,450 SF
Lot size
0.96 Acres
Property subtype
Industrial, Mixed Use
Occupancy
100%
Financials
Cap Rate
4.75%
Business Included
Yes
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
26 ft
Heavy Power
Yes
Building Details
Year Built
2002
Tenancy
Single
Listing Agency:
REeBroker Group
Listed By:
Jae Lim · License #CA DRE #01941688
Source:
Crexi
Added: Jun 9
Changed: Jul 10
Last Checked: Aug 6 at 11:07AM
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 REeBroker Group
Investment Insights
Based on property information with market context.
A single-tenant industrial warehouse constructed in 2002, built as a concrete tilt-up facility on a 43,000 SF parcel. The property includes high-utility clear height of 24' to 26' and is supported by heavy 1,200 Amps of 3-phase power. Loading and access are served by a secure, fully fenced parking lot with 30+ dedicated parking stalls. A full roof replacement was completed in 2024, reducing near-term landlord capital exposure.
The asset is located in Los Angeles, positioned about 5 minutes from the LA Fashion District and within proximity to major transportation arteries, the Port of Long Beach, and Los Angeles International Airport (LAX). This makes the property well-suited for businesses that value dependable logistics access within an infill industrial setting.
The offering is structured as an Absolute NNN sale-leaseback with a brand-new 3-year initial lease term plus one additional 3-year renewal option executed concurrently with close of escrow. The tenant operates under an Absolute NNN framework and is responsible for property taxes (1.25%), insurance, utilities, and CAM, supporting a 100% passive landlord profile. Lease economics include annual escalations between 3.0% and 4.0%. Reported NOI is $451,000 with an initial cap rate of 4.75%.
The asset is located in Los Angeles, positioned about 5 minutes from the LA Fashion District and within proximity to major transportation arteries, the Port of Long Beach, and Los Angeles International Airport (LAX). This makes the property well-suited for businesses that value dependable logistics access within an infill industrial setting.
The offering is structured as an Absolute NNN sale-leaseback with a brand-new 3-year initial lease term plus one additional 3-year renewal option executed concurrently with close of escrow. The tenant operates under an Absolute NNN framework and is responsible for property taxes (1.25%), insurance, utilities, and CAM, supporting a 100% passive landlord profile. Lease economics include annual escalations between 3.0% and 4.0%. Reported NOI is $451,000 with an initial cap rate of 4.75%.
Key Highlights
- Single‑tenant industrial warehouse at 936 E. 31st St, Los Angeles, CA 90011, built in 2002
- 28,450 SF concrete tilt‑up building on a 43,000 SF parcel (~0.96 acres)
- Tenant lease structure is Absolute NNN with tenant responsibility for property taxes (1.25%), insurance, utilities, and CAM
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
$436,492
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
4.86%
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%
$8,729,840
$8.7M
Cap Rate 7%
$6,235,600
$6.2M
Cap Rate 9%
$4,849,911
$4.8M
Market Conditions
NOI Build-Up for 28,450 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
$539.4K $18.96/SF
− Vacancy
−$25.9K −$0.91/SF
EGI
$513.5K $18.05/SF
− OpEx
−$77.0K −$2.71/SF
NOI
$436.5K $15.34/SF
Area
ZIP 90011
Vacancy
4.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
15.00%
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%
$8,729,840
Cap Rate 7%
$6,235,600
Cap Rate 9%
$4,849,911
Alternative Uses
Best Use
Warehouse
$6.24M
$5.46M – $7.27M
NOI $436,492 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$576.38M
$504.33M – $672.44M
NOI $40,346,594 @ 7.0% cap · market cap 448.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26 ft
Clear height
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90011, CA
102,308
Population
25,119
Households
4.1
Avg Household Size
30
Median Age
6%
College-Educated
43%
High-School Grad
4.3 sq mi
ZIP Area
23,793
Density / Sq Mi
$53,781
Median Household Income
$27,889
Median Earnings
$1,497
Median Rent
$575,200
Median Home Value
Market
Vacancy Rate% for Industrial in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Modern tilt-up warehouse with 2024 roof replacement and Absolute NNN structure placing taxes, insurance, utilities on the tenant.
Where is this warehouse located?
The property is located at 936 East 31st Street Los Angeles, CA.
What is the asking price?
The asking price for this property is $8,990,000.
What are key features of this property?
This property features: Single‑tenant industrial warehouse at 936 E. 31st St, Los Angeles, CA 90011, built in 2002; 28,450 SF concrete tilt‑up building on a 43,000 SF parcel (~0.96 acres); Tenant lease structure is Absolute NNN with tenant responsibility for property taxes (1.25%), insurance, utilities, and CAM
