Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    709 Ridgewood Pl Los Angeles, CA 90038

    • Retail properties
    • 16,698 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Substrate Gallery / Art Gallery / Aboriginal Art Gallery
    • Emerald Psychic & Crystals / Psychic

    Property Details for 709 Ridgewood Pl

    Year built
    1930
    Property size
    16,698 SF
    Property type
    Retail properties

    Description

    This exceptional retail property, located at 709 N Ridgewood Pl, Los Angeles, CA 90038, offers a unique opportunity in the heart of Hollywood's Studio District. The 16,698 square foot building, constructed in 1930, features a two-story structure with a single building and currently offers multiple tenancies. One space of 754 square feet is currently available for lease. The property benefits from tandem parking availability, providing convenient parking options for both tenants and customers. Its strategic location places it equidistant between the established charm of Larchmont Village and the burgeoning energy of Melrose Hill, offering unparalleled access to a diverse range of amenities, including markets, cafes, restaurants, art galleries, and shops. This vibrant neighborhood is experiencing significant transformation, presenting a compelling investment opportunity within a thriving cultural and commercial hub. The property's classic architecture and prime location combine to create a highly desirable retail space, perfect for businesses seeking a prominent presence in a sought-after area of Los Angeles. The building's size and multiple tenancy options provide flexibility for a variety of retail concepts.

    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
    -118.315
    Latitude
    34.0838

    Comparable in this City

    • Value Estimation
      $255,000
      430 SF

      7062 Santa Monica Blvd

      NURSERY, GREENHOUSE, FLORIST • 430 SF
      7062 Santa Monica Blvd, Los Angeles, CA 90038
      View Details
    • Value Estimation by Request

      6165 Santa Monica Blvd

      Office space
      6165 Santa Monica Blvd, Los Angeles, CA 90038
      View Details
    • Value Estimation
      $305,000
      4,370 SF

      752 Seward St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,370 SF
      752 Seward St, Los Angeles, CA 90038-3504
      View Details
    • Value Estimation by Request
      6,560 SF

      6708-12 Melrose Ave

      Individual retail properties • 6,560 SF
      6708-12 Melrose Ave, Los Angeles, CA 90038
      View Details
    • Value Estimation
      $410,000
      3,180 SF

      6620 Melrose Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,180 SF
      6620 Melrose Ave, Los Angeles, CA 90038
      View Details
    • Value Estimation
      $260,000
      3,007 SF

      1201 La Brea Ave

      NURSERY, GREENHOUSE, FLORIST • 3,007 SF
      1201 La Brea Ave, West Hollywood, CA 90038-1023
      View Details

    Similar Nearby for Sale

    • $4,250,000
      6,560 SF

      Melrose Ave Storefront Investment

      Prime Los Angeles retail/office opportunity.
      6708-12 Melrose Ave, Los Angeles, CA 90038
      View Details
    • Contact for pricing
      8,829 SF

      Hollywood Mixed-Use Investment

      Prime Hollywood location, high-growth potential.
      1267 Wilton Pl, Los Angeles, CA 90038
      View Details
    • Contact for pricing
      17,640 SF

      Hollywood Media District Corner Property

      Rare opportunity in the heart of Hollywood's Media District.
      950 North Cahuenga Blvd, Los Angeles, CA 90038
      View Details
    • $3,900,000

      Retail Property in Los Angeles

      Retail property for sale in Los Angeles, California.
      5661 Lexington Ave, Los Angeles, CA 90038
      View Details
    • $2,295,000

      Permitted Hancock Park Development Opportunity

      Approved plans for four single-family homes near Melrose.
      833 N Las Palmas Ave, Los Angeles, CA 90038
      View Details
    • $1,995,000
      4,119 SF

      Residential Income Property in Hollywood

      Spacious property with front house and two rear units.
      1239 Gordon St, Los Angeles, CA 90038
      View Details

    Similar Nearby for Lease

    • $33 SF/Yr
      22,992 SF

      La Brea Ave Creative Office Spaces

      Prime Los Angeles Creative Office & Retail
      828 La Brea Ave, Los Angeles, CA 90038
      View Details
    • $39 SF/Yr
      10,113 SF

      Hollywood Retail Gem

      Iconic 10,113 SF building, prime location.
      6235 Santa Monica Blvd, Los Angeles, CA 90038
      View Details
    • $30,000
      750 SF

      Hollywood Creative Office Space

      Prime Santa Monica Blvd Retail Space Available
      6025 Santa Monica Blvd, Los Angeles, CA 90038
      View Details
    • $24 SF/Yr
      13,841 SF

      Hollywood Medical Office Space

      Prime Los Angeles medical office suites available.
      1253 Vine St, Los Angeles, CA 90038
      View Details
    • Contact for pricing
      24,580 SF

      Los Angeles Creative Office Space

      24,580 SF Creative Office, Retail Potential
      1130 Seward St, Los Angeles, CA 90038
      View Details
    • $8 SF/Yr
      3,000 SF

      Retail/Showroom/Office Space with Parking

      Retail, showroom, or office space with a 16,000 SF parking lot.
      810-814 N La Brea Ave, Los Angeles, CA 90038
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    709 Ridgewood Pl
    Los Angeles, CA 90038
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.