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    Flex Property with Secured Storage Title is generated by Realmo AI

    9623 Venice Blvd, Culver City, CA 90232

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    For Sale
    $1,795,000

    Gated flex setup with office improvements and dedicated storage, well suited for trades or light industrial operators.

    Property size:
    2,400 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $747/SF
    Added:
    Mar 20, 2025
    Days on Market:
    441
    Last Refresh:
    Jun 3 at 2:16 am

    Property Features for 9623 Venice Blvd

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    0.14 Acres

    We can help!

    Listing Contact
    Daniel John Cavanaugh

    Listing agent Daniel John Cavanaugh

    Listing office Cavanaugh Realtors

    Listing date Mar 20, 2025

    Source Exprealty

    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 Cavanaugh Realtors

    HighLights

    • Single‑story 1,500 SF front office building with 4 private offices, kitchen/break room, and 2 restrooms
    • Rear 900 SF building for dedicated storage
    • Gated access at the front and rear with plenty of secured on‑site parking
    • 6,250 SF lot with MU‑EC zoning allowing mixed‑use development
    • Located near downtown Culver City and major employers including Sony Studios and Amazon Studios
    • Close to Robertson Metro station with Tier 3 TOC designation

    Overview

    A rare opportunity with first-time market exposure in nearly 40 years, this former plumbing shop offers a practical flex layout designed for trades and service users. The front building is approximately 1,500 square feet and functions as a single-story office with four private offices, a kitchen and break room, and two restrooms. The rear building is approximately 900 square feet and is used strictly for storage, supporting day-to-day operations and workflow separation. The property sits on a roughly 6,250 square foot lot with gates at both the front and rear, providing secured parking on site.

    The property is located in a convenient area close to downtown Culver City and major media employers including Sony Studios and Amazon Studios. It is also just down the street from the new Apple Campus project, and it benefits from proximity to the Robertson Metro station. The property has a Tier 3 TOC designation, and it is zoned MU-EC, which allows for mixed-use development.

    This configuration is well matched for contractors, specialty trades, and other users who need functional office space paired with on-site storage and controlled access. For buyers evaluating redevelopment or a mixed-use direction, the MU-EC zoning and Tier 3 TOC designation add planning flexibility while retaining the existing operational improvements.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

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

    Similar Places Nearby

    • Due Mani Pizza
    • The Greasy Wiener
    • Arli's Exclusive Catering — 10910 Venice Blvd., Los Angeles, CA 90034
    • Chef Evi Catering & Events — 10853 Venice Blvd., Los Angeles, CA 90034
    • Wolfgang Puck Catering at Sony Pictures Studios — 10202 Washington Blvd, Culver City, CA 90232

    Location Insight

    • Map
    • Local Demand
    City
    Culver City
    County
    Los Angeles
    State
    California
    Longitude
    -118.39659
    Latitude
    34.0249

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    FAQs

    What type of property is this?
    Flex space - Gated flex setup with office improvements and dedicated storage, well suited for trades or light industrial operators.
    Where is this flex space located?
    The property is located at 9623 Venice Blvd Culver City, CA.
    What is the asking price?
    The asking price for this property is $1,795,000.
    What are key features of this property?
    This property features: Single‑story 1,500 SF front office building with 4 private offices, kitchen/break room, and 2 restrooms; Rear 900 SF building for dedicated storage; Gated access at the front and rear with plenty of secured on‑site parking
    (310) 837-7161
    We can help!
    Listing Contact
    Daniel John Cavanaugh
    Learn More
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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
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