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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1159 Nelrose Ave Venice, CA 90291

    • Office buildings
    • 8,645 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Jul 08, 2020
    $3,820,038
    Value Estimations
    $3,940,000
    Show details
    Cap Rate Potential
    4.9%
    Office buildings
    Location Intelligence
    Property ID
    US09-6525731
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1159 Nelrose Ave

    Year built
    2008
    Construction
    WOOD
    Lot size
    0.13 lot acres
    Property size
    8,645 SF
    Zone code
    LAC2
    Property type
    Office buildings
    APN
    4236-001-002
    APU
    4236001002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,095,000
      ML approach
      $4,030,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,360,000
      6.5%
      $3,100,000
      7%
      $2,880,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,880,000
      Current use
      RESTAURANT
      $5,630,000
      Change: +45% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $5,260,000
      Change: +36% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,000,000
      Change: +3% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,935,000
      Change: +1% Conversion: Easy
      MEDICAL BUILDING
      $3,930,000
      Change: +1% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Los Angeles
    State
    California
    Longitude
    -118.451
    Latitude
    33.9937
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $49,446
    $2,653,020
    $1,379,570
    $4,032,590
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,170,000
      6,620 SF

      334 Sunset Ave

      OFFICE BUILDING • 6,620 SF
      334 Sunset Ave, Venice, CA 90291-2632
      View Details
    • Value Estimation
      $625,000
      2,148 SF

      1041 Abbot Kinney Blvd

      OFFICE BUILDING • 2,148 SF
      1041 Abbot Kinney Blvd, Venice, CA 90291-3386
      View Details
    • Value Estimation
      $550,000
      1,936 SF

      2554 Lincoln Blvd

      OFFICE BUILDING • 1,936 SF
      2554 Lincoln Blvd, Venice, CA 90291-5043
      View Details
    • Value Estimation
      $9,100,000
      29,040 SF

      909 Ocean Frnt Walk

      OFFICE BUILDING • 29,040 SF
      909 Ocean Frnt Walk, Venice, CA 90291-9006
      View Details
    • Value Estimation
      $1,865,000
      6,248 SF

      1611 Electric Ave

      OFFICE BUILDING • 6,248 SF
      1611 Electric Ave, Venice, CA 90291-4803
      View Details
    • Value Estimation
      $710,000
      2,500 SF

      2006 Lincoln Blvd

      PROFESSIONAL BUILDING • 2,500 SF
      2006 Lincoln Blvd, Venice, CA 90291-3949
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,403 SF

      Renovated Office Building with Views

      Two-story office building near Abbot Kinney with city views.
      1611 Electric Ave, Venice, CA 90291
      View Details
    • Contact for pricing
      1,900 SF

      Venice Beach Retail Gem

      Prime Venice location, renovated retail space
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      Venice Beach Creative Office Space

      Prime location, versatile office/live-work
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    • $5,500,000
      4,637 SF

      Venice Commercial Property on Abbot Kinney

      Commercial property for sale on Abbot Kinney Boulevard in Venice.
      2320 Abbot Kinney Blvd, Venice, CA 90291
      View Details
    • Contact for pricing
      5,506 SF

      Abbot Kinney Creative Compound

      Prime Venice Office/Retail Space
      891 Abbot Kinney Blvd, Los Angeles, CA 90291
      View Details
    • Contact for pricing
      14,011 SF

      Venice Beach Mixed-Use Opportunity

      Iconic location, high foot traffic, ocean views.
      1007 Ocean Front Walk, Los Angeles, CA 90291
      View Details

    Similar Nearby for Lease

    • $8,750 /Mo
      1,634 SF

      Venice Creative Office/Live-Work Space

      Unique live/work space in vibrant Venice Beach near Abbot Kinney.
      215 Windward Ave, Venice, CA 90291
      View Details
    • $6 SF/Yr
      23,994 SF

      Venice Boardwalk Work/Live Space

      Modern work/live space on Venice Boardwalk available for lease.
      305 Ocean Front Walk, Venice, CA 90291
      View Details
    • Contact for pricing
      4,765 SF

      Venice Way Creative Office Space

      Prime Venice office, 4,765 sq ft, fully renovated.
      310 Venice Way, Los Angeles, CA 90291
      View Details
    • $96 SF/Yr
      14,275 SF

      Prime Venice Beach Office Space

      Executive Suites, 14,275 SF Available
      901 Abbot Kinney Blvd, Los Angeles, CA 90291
      View Details
    • $6 SF/Yr
      6,000 SF

      Creative Office Space Near Beach

      Furnished creative office space with high ceilings near Venice Beach.
      334 Sunset Ave, Venice, CA 90291
      View Details
    • Contact for pricing
      720 SF

      Abbot Kinney Blvd Executive Office Suite

      Prime Venice Office Space, 720 sq ft.
      1419 Abbot Kinney Blvd, Los Angeles, CA 90291
      View Details
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    1159 Nelrose Ave
    Venice, CA 90291
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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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