Downtown LA Industrial
For Sale
Contact for pricing
939 N Vignes St, Los Angeles, CA 90012
8,932 SF industrial warehouse in Downtown Los Angeles.
Property Size8,932 SF
Price / SF$223.91
Days on Market653
Property Features for 939 N Vignes St
General Information
Standard status
Active
Size
8,932 SF
Property subtype
Industrial
Zoning
LAM3
Building Details
Year Built
1958
Listing Agency:
Major Properties
(213) 747-4151
Listed By:
Bradley Luster · License #CA 00913803
Source:
Crexi
Added: Nov 2, 2024
Changed: Aug 8
Last Checked: Jul 23 at 3:16PM
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 Major Properties
Investment Insights
Based on property information with market context.
Located just off E. Cesar E. Chavez Ave in Downtown Los Angeles, the property at 939 N Vignes St is an industrial warehouse offering approximately 8,932 sq. ft. The building has excellent access to the US-101, I-5, and I-110 freeways, providing connectivity to the city’s core as well as the San Gabriel and San Fernando Valleys. The building features approximately 12'6" clear height and drive-in access. The property is zoned LAM3, making it suitable for both owner-users and value-oriented investors. It is positioned within an Opportunity Zone, presenting potential tax advantages for qualified investors, along with flexibility for a variety of industrial uses, including manufacturing, warehousing, and distribution. This centrally located industrial asset is in one of Los Angeles’ most supply-constrained and competitive markets.
Key Highlights
- Prime Downtown Los Angeles location with excellent access to US‑101, I‑5, and I‑110 freeways.
- Located within an Opportunity Zone, offering potential tax advantages.
- ±8,932 sq. ft. industrial warehouse** suitable for manufacturing, warehousing, and distribution.
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
$134,735
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
6.74%
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%
$2,694,700
$2.7M
Cap Rate 7%
$1,924,786
$1.9M
Cap Rate 9%
$1,497,056
$1.5M
Market Conditions
NOI Build-Up for 8,932 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
$169.4K $18.96/SF
− Vacancy
−$10.8K −$1.21/SF
EGI
$158.5K $17.75/SF
− OpEx
−$23.8K −$2.66/SF
NOI
$134.7K $15.08/SF
Area
Los Angeles, CA
Vacancy
6.40%
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%
$2,694,700
Cap Rate 7%
$1,924,786
Cap Rate 9%
$1,497,056
Alternative Uses
Best Use
Warehouse
$1.92M
$1.68M – $2.25M
NOI $134,735 @ 7.0% cap · market cap 6.74%
Second Best
Industrial
$1.59M
$1.39M – $1.85M
NOI $110,959 @ 7.0% cap · market cap 5.55%
Theoretical Best
Multifamily LT 5
$180.96M
$158.34M – $211.12M
NOI $12,666,987 @ 7.0% cap · market cap 633.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,877
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90012, CA
33,851
Population
16,541
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
77%
High-School Grad
3.6 sq mi
ZIP Area
9,403
Density / Sq Mi
$67,635
Median Household Income
$44,901
Median Earnings
$2,116
Median Rent
$686,400
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 - 8,932 SF industrial warehouse in Downtown Los Angeles.
Where is this warehouse located?
The property is located at 939 N Vignes St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime Downtown Los Angeles location with excellent access to US‑101, I‑5, and I‑110 freeways.; Located within an Opportunity Zone, offering potential tax advantages.; ±8,932 sq. ft. industrial warehouse** suitable for manufacturing, warehousing, and distribution.
