Established Northridge Restaurant
For Sale
Contact for pricing
Call Broker For Details!, Los Angeles, CA 91324
Authentic Greek restaurant with strong financials and loyal customer base.
Property Size3,200 SF
Price / SF$312.48
Days on Market145
Property Features for Call Broker For Details!
General Information
Standard status
Active
Size
3,200 SF
Class
A
Property subtype
Retail
Lease Type
Gross
Investment Type
Owner/User
Building Details
Units
1
Tenancy
Single
Listing Agency:
Biz Builder
(800) 727-2100
Listed By:
George Massalas · License #CA 01871760
Source:
Crexi
Added: Mar 26
Changed: Aug 8
Last Checked: Aug 13 at 5:26AM
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 Biz Builder
Investment Insights
Based on property information with market context.
This is an established family-owned and operated Greek restaurant with a history of over 30 years. The restaurant has a strong reputation and thousands of repeat customers, with solid commercial accounts including schools, businesses, police, and fire departments. The restaurant has a 5-star rating on Yelp and Google. The estimated gross revenue for 2024 is over $1,000,000, with confirmed net earnings of approximately $350,000 per year. The current owner is retiring but is available to assist the new owner. The property size is 3,200 square feet. This business opportunity is available until December 31, 2026.
Key Highlights
- Estimated 2024 Gross Revenue $1,000,000+ with rock‑solid financials.
- Confirmed net earnings approximately $350,000/year.
- 30+ year family‑owned and operated business with an outstanding reputation.
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
$86,664
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
8.67%
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%
$1,733,280
$1.7M
Cap Rate 7%
$1,238,057
$1.2M
Cap Rate 9%
$962,933
$962.9K
Market Conditions
NOI Build-Up for 3,200 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
$118.3K $36.96/SF
− Vacancy
−$2.7K −$0.85/SF
EGI
$115.6K $36.11/SF
− OpEx
−$28.9K −$9.03/SF
NOI
$86.7K $27.08/SF
Area
Los Angeles, CA
Vacancy
2.30%
Lease Rate
$36.96 /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%
$1,733,280
Cap Rate 7%
$1,238,057
Cap Rate 9%
$962,933
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.08M – $1.44M
NOI $86,664 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$64.83M
$56.73M – $75.64M
NOI $4,538,106 @ 7.0% cap · market cap 453.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,680
Businesses Nearby
815k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 48%
Dining 18%
Shops & Services 12%
Leisure 9%
DICK'S Sporting Goods
Apparel
118,235 visits/mo
0.3 miles
Macy's
Apparel
105,242 visits/mo
0.3 miles
Ross Dress for Less
Apparel
73,130 visits/mo
0.4 miles
AMC Northridge 10
Leisure
71,431 visits/mo
0.4 miles
JCPenney
Apparel
66,411 visits/mo
0.4 miles
Demographics for 91324, CA
29,500
Population
11,408
Households
2.6
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
6,860
Density / Sq Mi
$99,834
Median Household Income
$46,513
Median Earnings
$2,286
Median Rent
$869,200
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Authentic Greek restaurant with strong financials and loyal customer base.
Where is this conventional restaurant located?
The property is located at Call Broker For Details! Los Angeles, CA.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: Estimated 2024 Gross Revenue $1,000,000+ with rock‑solid financials.; Confirmed net earnings approximately $350,000/year.; 30+ year family‑owned and operated business with an outstanding reputation.
