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    609 St. Paul Ave Los Angeles, CA 90017

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    For Lease
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    Prime Mixed-Use Retail in LA

    Lot size:
    10,143 SF

    Property Features for 609 St. Paul Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,143 SF

    Spaces For Lease

    at 609 St. Paul Ave, Los Angeles, CA 90017 Contact us

    We can help!

    Listing Contact
    David Maling
    David Maling

    Listing Agency: Avison Young Downtown Los Angeles Listing Agent: David Maling

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    The Piero I & II offers a unique opportunity to lease retail space in the heart of Los Angeles, CA. This mixed-use property, located at 609 & 640 St. Paul Avenue, zip code 90017, in Los Angeles County, comprises two buildings totaling 10,143 square feet. Currently, the entire 10,146 square feet is available for lease, offering multiple tenancy options. The property features four individual suites, with a minimum divisible space of 1,661 square feet and a maximum contiguous space of 3,261 square feet. This presents a flexible solution for businesses seeking various sizes of retail or office space. The property's central Los Angeles location provides excellent visibility and accessibility, making it an ideal location for a variety of businesses. The address is easily accessible and situated within a vibrant and dynamic neighborhood. This is a rare opportunity to secure a substantial retail presence in a highly desirable area of Los Angeles. Interested parties should inquire promptly to explore the possibilities of establishing their business in this prime location. The property is classified as retail, with mixed-use capabilities, offering a versatile space for a range of commercial ventures. The building's layout allows for customization to suit individual business needs. Don't miss this chance to secure a prominent location in the thriving Los Angeles market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.243891
    Latitude
    34.0653347

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    FAQs

    What type of property is this?
    Office property - Prime Mixed-Use Retail in LA
    Where is this office property located?
    The property is located at 609 St. Paul Ave Los Angeles, CA.
    What are key features of this property?
    This property features: 10,143 square feet of retail space available for lease in two buildings at 609 & 640 St. Paul Avenue, Los Angeles, CA 90017.; Units range from ±1,661 to ±3,261 square feet, offering flexible lease options.; High-visibility corner location at St. Paul Avenue & W 6th Street, adjacent to the Harbor Freeway (Highway 110).
    Request Owner's contact information
    609 St. Paul Ave Los Angeles, CA 90017
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    Los Angeles, CA 90017
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    609 St. Paul Ave Los Angeles, CA 90017
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    Contact for Pricing
    Please call us for current price
    and status of this listing David Maling
    David Maling
    Real Estate License ID: 01139115
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