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

    1209 Grand Ave Los Angeles, CA 90015

    • Parking lots & garages
    • 10,350 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2023
    $10,000,100
    Value Estimations
    $9,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0478951
    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

    • parking / Parking Lot

    Property Details for 1209 Grand Ave

    Year built
    1959
    Lot size
    0.24 lot acres
    Property size
    10,350 SF
    Zone code
    LAR5
    Property type
    Parking lots & garages
    APN
    5139-022-009
    APU
    5139022009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,165,000
      ML approach
      $7,615,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,681,000
      Market price range: $2.16M - $11.7M

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $6,400,000
      Current use
      RESTAURANT
      $8,515,000
      Change: +33% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.264
    Latitude
    34.04
    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
    $44,857
    $3,519,000
    $51,000
    $3,570,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.01 Acres

      1700 Olympic Blvd

      PARKING LOT • 1.01 Acres
      1700 Olympic Blvd, Los Angeles, CA 90015-1004
      View Details
    • Value Estimation by Request
      0.18 Acres

      917 Olympic Blvd

      PARKING LOT • 0.18 Acres
      917 Olympic Blvd, Los Angeles, CA 90015
      View Details
    • Value Estimation
      $525,000
      6,400 SF

      942 Bixel St

      PARKING LOT • 6,400 SF
      942 Bixel St, Los Angeles, CA 90015
      View Details
    • Value Estimation
      $2,240,000
      88,596 SF

      1121 James M Wood Blvd

      PARKING LOT • 88,596 SF
      1121 James M Wood Blvd, Los Angeles, CA 90015-1275
      View Details
    • Value Estimation by Request
      6,000 SF

      1520 James M Wood Blvd

      PARKING LOT • 6,000 SF
      1520 James M Wood Blvd, Los Angeles, CA 90015-1110
      View Details
    • Value Estimation
      $540,000
      5,424 SF

      1108 Broadway

      PARKING LOT • 5,424 SF
      1108 Broadway, Los Angeles, CA 90015-2206
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,500 SF

      Downtown Los Angeles Retail Property

      19,500 SF retail property in Downtown Los Angeles.
      510 E Olympic Blvd, Los Angeles, CA 90015
      View Details
    • $6,000,000
      14,000 SF

      DTLA SBA Opportunity! 2-Story Retail/Office

      DTLA SBA Opportunity! 2-Story Retail/Office
      1016 Santee St, Los Angeles, CA 90015
      View Details
    • $9,000,000
      16,105 SF

      Prime LA Fashion District Retail

      13-Unit Retail Building, $9M
      501 11Th St, Los Angeles, CA 90015
      View Details
    • Contact for pricing
      18,914 SF

      Commercial Building Near Crypto.com Arena

      Two-story commercial building with basement near LA Live and Crypto.com Arena.
      1060 S Olive St, Los Angeles, CA 90015
      View Details
    • $5,955,000
      26,000 SF

      Mixed-Use Building in Downtown Los

      26,000 SF mixed-use building in a developing Downtown Los Angeles.
      1316 S Los Angeles St, Los Angeles, CA 90015
      View Details

    Similar Nearby for Lease

    • $42 SF/Yr
      27,500 SF

      APEX Creative Office Space Downtown LA

      Modern Downtown LA Creative Office & Retail
      901 Flower St, Los Angeles, CA 90015
      View Details
    • $2 SF/Yr
      15,300 SF

      4 DTLA Fashion District Units

      4 DTLA Fashion District Units
      1024 Maple Ave, Los Angeles, CA 90015
      View Details
    • $1.00 SF/Yr
      3,904 SF

      3,904 SF DTLA Fashion District Retail Space

      3,904 SF DTLA Fashion District Retail Space
      126 E 11th St, Los Angeles, CA 90015
      View Details
    • $2 SF/Yr
      2,400 SF

      Retail & Restaurant Units Available

      Retail & Restaurant Units Available
      326 E Pico Blvd, Los Angeles, CA 90015
      View Details
    • Contact for pricing
      196,603 SF

      900-912 Hill St

      Warehouses • 196,603 SF
      900-912 Hill St, Los Angeles, CA 90015
      View Details
    • $2 SF/Yr
      1,802 SF

      Prime Retail Space, South Hope St

      Los Angeles Retail Space - 1802 sq ft
      1100 Hope St, Los Angeles, CA 90015
      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.
    1209 Grand Ave
    Los Angeles, CA 90015
    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.