770 Vermont Ave Los Angeles, CA 90005
- Retail properties
- 6,671 SF
Current Use by Public Records
- Key Drug Co / Pharmacy
- Amazon Hub Counter - Health Mart Pharmacy / Mailing Service / E-Commerce Service
Property Details for 770 Vermont Ave
- Year built
- 1924
- Property size
- 6,671 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional owner-user opportunity presents a 6,671 square foot retail property located at 762-770 S Vermont Ave in Los Angeles, CA. The property, built in 1924 and renovated in 1990, consists of five commercial units currently operating as a convenience store, grocery store, and pharmacy/drug store. All five units are occupied with month-to-month tenants, providing flexibility for future use. The asking price is $2,500,000, representing a price per square foot of $374.76. The property boasts a current NOI of $98,931 and a pro-forma NOI of $133,435, translating to a cap rate of 3.96% and a pro-forma cap rate of 5.34%. Situated on a 5,627 square foot corner lot in the Wilshire/Koreatown Recovery Redevelopment Area, the property benefits from high visibility and traffic counts due to its location on a signalized corner with excellent frontage on Vermont Ave and W 8th St. The property is zoned LAC2 and features convenient access to the Wilshire/Vermont subway station and major freeways (CA-101, CA-110, and I-10). SBA financing is available. This prime location offers significant potential for investors and owner-users alike, given its proximity to popular Los Angeles attractions and its dynamic neighborhood. The property's single-story building is classified as Class A.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.291
- Latitude
- 34.0579
