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    12121 W Pico Blvd Los Angeles, CA 90064

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    12121 W Pico Blvd Los Angeles, CA 90064

    View on Map
    • Retail space
    • 29,098 SF
    • 0.50 lot acres
    For Lease
    $10,120,000
    View Listing →
    Retail Space for Lease For Lease
    $10,120,000

    Retail Space for Lease

    Retail space available for lease in Los Angeles, CA.

    12121 W Pico Blvd, Los Angeles, CA 90064
    View Listing
    Property ID
    US09-7072887
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marukai / Grocery & Convenience Store / Food Market
    • Makela Tango / Training Center
    • Marukai Market / Grocery & Convenience Store / Food Market

    Property Details for 12121 W Pico Blvd

    Year built
    1991
    Construction
    TILT-UP CONCRETE
    Lot size
    0.50 lot acres
    Property size
    29,098 SF
    Zone code
    LAC2
    Property type
    Retail space
    APN
    4259-032-028
    APU
    4259032028

    Description

    This exceptional retail opportunity presents a prime Los Angeles location at 12121 W Pico Blvd, 90064, within Los Angeles County. The property, known as Pico & Bundy, is a multi-tenant shopping center totaling 31,009 square feet situated on a 0.81-acre lot. Currently, there are three suites available, offering flexible space options for various retail businesses. Individual spaces range from a minimum of 3,280 square feet to a maximum contiguous space of 9,977 square feet. A significant portion of the center is currently vacant, totaling 18,057 square feet, presenting a unique chance to establish a substantial presence in a high-traffic area. The property's classification as a shopping center suggests a strong potential for synergistic tenant relationships and increased foot traffic. The address is conveniently located in Los Angeles, California, offering excellent accessibility and visibility for prospective tenants. This property is ideal for businesses seeking a prominent location in a bustling Los Angeles neighborhood. The substantial vacant space allows for customization and adaptation to suit a variety of retail concepts. This is a rare opportunity to secure a significant retail footprint in a desirable Los Angeles market. Serious inquiries are encouraged to explore this exceptional retail investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,255,000
      6.5%
      $10,390,000
      7%
      $9,645,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $15,815,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.451
    Latitude
    34.0293
    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
    $214,728
    $10,389,636
    $7,207,126
    $17,596,762
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      2918 Sawtelle Blvd

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      2918 Sawtelle Blvd, Los Angeles, CA 90064-3710
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    • Value Estimation
      $1,990,000
      8,500 SF

      10650 Pico Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,500 SF
      10650 Pico Blvd, Los Angeles, CA 90064
      View Details
    • Value Estimation by Request
      1,434 SF

      10939 Pico Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,434 SF
      10939 Pico Blvd, Los Angeles, CA 90064-2117
      View Details
    • Value Estimation
      $1,055,000
      5,818 SF

      11727 Gtwy Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,818 SF
      11727 Gtwy Blvd, Los Angeles, CA 90064-2819
      View Details
    • Value Estimation
      $750,000
      2,200 SF

      11707 Pico Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      11707 Pico Blvd, Los Angeles, CA 90064
      View Details

    Similar Nearby for Sale

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      Prime West Los Angeles location for owner-user or development.
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    Similar Nearby for Lease

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      Overland Avenue Retail Space Available

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      West Los Angeles Retail Space

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      View Details
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    Los Angeles, CA 90064
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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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