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    1253 Vine St Los Angeles, CA 90038

    Sponsored
    For Lease
    $24 SF/Yr

    Prime Los Angeles medical office suites available.

    Lot size:
    13,841 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Los Angeles County property, located at 1253 Vine Street, 90038, offers 13,841 square feet of versatile commercial space ideal for medical offices. The building features seven suites, with a minimum divisible space of 1,185 square feet and a maximum contiguous space of 2,535 square feet. Currently, a significant portion of the building, totaling 12,506 square feet, is available for lease. The property is categorized as both retail and office, making it suitable for a variety of medical and commercial uses. Its location in the vibrant Hollywood area provides excellent visibility and accessibility. The multiple tenancy structure allows for flexibility in lease terms and space configurations. This is a unique opportunity to secure prime commercial real estate in a high-demand Los Angeles location. The property's diverse zoning allows for a range of uses, including fitness, medical, office, retail, and restaurant establishments. Interested parties should inquire about available suite sizes and lease terms. This property presents a compelling investment opportunity in a thriving market.

    Property Features for 1253 Vine St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,841 SF
    Total Rate
    27682

    Unit(s) available at that property

    Space
    Suite 14
    Size
    2,525 SF
    Rate per SF
    $24
    Space
    Suite 20
    Size
    1,185 SF
    Rate per SF
    $24
    Space
    Suite 17
    Size
    1,350 SF
    Rate per SF
    $24
    Space
    Suite25
    Size
    1,500 SF
    Rate per SF
    $24
    Space
    Suite 23
    Size
    1,573 SF
    Rate per SF
    $24
    Space
    Suite 1
    Size
    2,535 SF
    Rate per SF
    $24
    Space
    Suite10
    Size
    1,838 SF
    Rate per SF
    $24

    HighLights

    • Suite sizes: 1,185 - 2,535 square feet.
    • Rent: $2.00 - $3.00 per square foot, per month, plus NNN charges.
    • Ready for immediate occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    TY Amish furniture ... Amish Furniture Store Dr. Francisco Ilem ... Dentist Sereechai Newspaper Newspaper Publisher King's Thai Food Thai Restaurant Doomie's Home Cookin' Vegan Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.3273437
    Latitude
    34.0939819

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    FAQs

    What type of property is this?
    Medical office - Prime Los Angeles medical office suites available.
    Where is this medical office located?
    The property is located at 1253 Vine St Los Angeles, CA.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Suite sizes: 1,185 - 2,535 square feet.; Rent: $2.00 - $3.00 per square foot, per month, plus NNN charges.; Ready for immediate occupancy.
    Request Owner's contact information
    1253 Vine St Los Angeles, CA 90038
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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.

    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
    1253 Vine St Los Angeles, CA 90038
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