Two-Story Office
For Sale
$777,000
9511 S San Pedro St, Los Angeles, CA 90003
Vacant office property with LAR4 zoning and redevelopment potential.
Property Size2,532 SF
Lot Size0.12 Acres
Price / SF$306.87
Days on Market15
Property Features for 9511 S San Pedro St
General Information
Standard status
Active
Size
2,532 SF
Lot size
0.12 Acres
Zoning
LAR4
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Stories
2
Building Size
2,532 SF
Listing Agency:
Douglas Elliman
(310) 487-4447
Listed By:
Shahab Zarrabi
(310) 487-4447
Source:
Exprealty
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 5:16AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This vacant, two-story office building contains approximately 2,532 SF on a 5,227 SF lot. The property is positioned for immediate occupancy and is classified within the LAR4 zoning designation. The site may support owner-user applications such as educational, child care, religious, eldercare, nonprofit, and philanthropic uses, subject to independent verification.
Development scenarios identified for the property include approximately 13 units by right, with potential for up to approximately 26 units through ED1 and applicable affordable housing incentives, subject to due diligence and required approvals. The location provides access to I-110, I-105, and I-10, with Downtown Los Angeles, USC, Exposition Park, and BMO Stadium located minutes away. Buyers should independently confirm zoning, development capacity, permits, measurements, and intended use.
Development scenarios identified for the property include approximately 13 units by right, with potential for up to approximately 26 units through ED1 and applicable affordable housing incentives, subject to due diligence and required approvals. The location provides access to I-110, I-105, and I-10, with Downtown Los Angeles, USC, Exposition Park, and BMO Stadium located minutes away. Buyers should independently confirm zoning, development capacity, permits, measurements, and intended use.
Key Highlights
- Two‑story vacant office building with approximately 2,532 SF
- 5,227 SF LAR4‑zoned lot
- Potential for approximately 13 units by right
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
$61,546
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
7.92%
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%
$1,230,920
$1.2M
Cap Rate 7%
$879,229
$879.2K
Cap Rate 9%
$683,844
$683.8K
Market Conditions
NOI Build-Up for 2,532 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
$97.2K $38.40/SF
− Vacancy
−$15.2K −$5.99/SF
EGI
$82.1K $32.41/SF
− OpEx
−$20.5K −$8.10/SF
NOI
$61.5K $24.31/SF
Area
ZIP 90003
Vacancy
15.60%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,230,920
Cap Rate 7%
$879,229
Cap Rate 9%
$683,844
Alternative Uses
Best Use
Office B
$879.2K
$769.3K – $1.03M
NOI $61,546 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Apartment 5plus
$44.76M
$39.17M – $52.22M
NOI $3,133,487 @ 7.0% cap · market cap 403.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant office property with LAR4 zoning and redevelopment potential.
Where is this office building located?
The property is located at 9511 S San Pedro St Los Angeles, CA.
What is the asking price?
The asking price for this property is $777,000.
What are key features of this property?
This property features: Two‑story vacant office building with approximately 2,532 SF; 5,227 SF LAR4‑zoned lot; Potential for approximately 13 units by right
