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    8742 Corbin Ave Los Angeles, CA 91324
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    8742 Corbin Ave Los Angeles, CA 91324

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    • Retail properties & Spaces
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    Cap Rate Potential
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    • Retail properties & Spaces

    Property Details for 8742 Corbin Ave

    Property type
    Retail properties & Spaces

    Description

    Northridge Plaza offers exceptional retail leasing opportunities in a thriving Los Angeles community. This recently remodeled community center boasts a highly desirable location at the intersection of Corbin Ave & Nordhoff Way in Northridge, California, enjoying a daily traffic count exceeding 62,000 vehicles. The center is anchored by major retailers Target and Kohl's, ensuring high foot traffic and visibility for tenants. Available spaces range from 3,400 to 8,355 square feet, encompassing prime end-cap and second-generation restaurant and retail spaces. The property benefits from a densely populated trade area with average household incomes exceeding $120,000, and a daytime population of over 80,000 within a two-mile radius. Adding to its convenience and appeal, the center features approximately 24 Tesla charging stations. This presents a unique opportunity for businesses seeking high-traffic exposure in a prosperous and well-established retail environment within Los Angeles County, zip code 91324. The property is situated at 8742 Corbin Ave, Los Angeles, CA.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.562
    Latitude
    34.2314

    Comparable in this City

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      9100 Reseda Blvd

      Restaurants
      9100 Reseda Blvd, Los Angeles, CA 91324
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    • Value Estimation by Request
      1,693 SF

      19350 Nordhoff St

      Individual retail properties • 1,693 SF
      19350 Nordhoff St, Los Angeles, CA 91324
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    • Value Estimation by Request
      15,311 SF

      19510 Nordhoff St

      Retail properties & Spaces • 15,311 SF
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      2.52 Acres

      9545 Reseda Blvd

      Retail properties & Spaces • 2.52 Acres
      9545 Reseda Blvd, Los Angeles, CA 91324
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      3,200 SF

      Call Broker For Details!

      Restaurants • 3,200 SF
      0 Call Broker For Details!, Los Angeles, CA 91324
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      12,570 SF

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    • $925,000
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      Mixed-Use Property in Northridge, CA

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      Established Cleaning Business in Northridge

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    • $1,249,000
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      Northridge Multifamily Income Property

      Income-generating property with two independent homes on one lot.
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    Similar Nearby for Lease

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      Commercial Building for Lease

      Commercial building available for lease in Los Angeles, CA.
      19839 Nordhoff St, Los Angeles, CA 91324
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      Retail Space for Lease

      Retail space available for lease in Los Angeles, CA.
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      Retail Space Near Northridge Mall

      Retail property anchored by Super King Market and DSW for lease.
      19500 Plummer St, Los Angeles, CA 91324
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    • Contact for pricing

      Remodeled Retail Center in Northridge

      Community center anchored by Target and Kohl’s in Northridge.
      8742 Corbin Ave, Los Angeles, CA 91324
      View Details
    • Contact for pricing

      Office Space Available for Rent

      Office space available, offering 1,300 square feet.
      9320 Reseda Blvd, Los Angeles, CA 91324
      View Details
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    8742 Corbin Ave
    Los Angeles, CA 91324
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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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    8742 Corbin Ave, Los Angeles, CA, 91324
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