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    6312 Figueroa St Los Angeles, CA 90042
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    6312 Figueroa St Los Angeles, CA 90042

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    • Lifestyle centers
    • 20,294 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 6312 Figueroa St

    Property size
    20,294 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 20,294-square-foot retail space is situated in a bustling Highland Park shopping center at the highly visible intersection of Figueroa Street and York Boulevard in Los Angeles, CA 90042. Previously occupied by a 99 Cents Only store, this single-tenant property boasts high street visibility and convenient access from all four surrounding streets. Ample on-site parking is available for customers. The property benefits from strong co-tenancy, including Warehouse Shoe Sale (WSS), Big 5 Sporting Goods, WaBa Grill, and Auto Zone. This location is ideal for retailers seeking exposure in a thriving, gentrifying community. Highland Park is experiencing significant growth, attracting residents with its eclectic shops, trendy restaurants, and artisanal cafes. Nearby attractions include the popular Highland Park Bowl, the Highland Park Farmers Market, and the Occidental College campus. The space is offered for lease, contingent upon the previous tenant's departure and the landlord's ability to deliver possession. This is a unique opportunity to establish a presence in a vibrant and desirable Los Angeles neighborhood.

    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
    -118.183
    Latitude
    34.1159

    Comparable in this City

    • Value Estimation by Request
      3,000 SF

      5622 Figueroa St

      Neighborhood centers • 3,000 SF
      5622 Figueroa St, Los Angeles, CA 90042
      View Details
    • Value Estimation
      $1,320,000
      7,891 SF

      6100 Figueroa St

      MINI-MALL • 7,891 SF
      6100 Figueroa St, Los Angeles, CA 90042-3578
      View Details
    • Value Estimation
      $2,320,000
      12,650 SF

      5532 York Blvd

      MINI-MALL • 12,650 SF
      5532 York Blvd, Los Angeles, CA 90042-2404
      View Details
    • Value Estimation
      $2,645,000
      16,525 SF

      6314 Figueroa St

      MINI-MALL • 16,525 SF
      6314 Figueroa St, Los Angeles, CA 90042-2733
      View Details
    • Value Estimation
      $7,465,000
      45,266 SF

      5930 Monterey Rd

      MINI-MALL • 45,266 SF
      5930 Monterey Rd, Los Angeles, CA 90042-4943
      View Details
    • Value Estimation by Request
      4,138 SF

      5924-5930 York Blvd

      Restaurants • 4,138 SF
      5924-5930 York Blvd, Los Angeles, CA 90042
      View Details

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      York Blvd Restaurant Opportunity

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      Los Angeles Educational Facility For Lease

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    • Contact for pricing

      5211 York Blvd, Los Angeles, CA 90042

      Conventional restaurants
      5211 York Blvd, Los Angeles, CA 90042
      View Details
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    Los Angeles, CA 90042
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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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