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

    12240 Venice Blvd Los Angeles, CA 90066

    • Office buildings
    • 13,094 SF
    • 0.25 lot acres
    For Lease
    View listing
    $29 SF/Yr
    Last Sale
    Sep 21, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0507076
    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

    • Practical Ayurveda / Health Consultant / Herb Shop
    • Kate McGinnis Therapy / Psychotherapist
    • Centola Darls / Social Worker
    • Kimberly Gibson Counseling & Art Therapy Services / Psychotherapist / Mental Health Service
    • Rafla Insurance Inc / Insurance Agency

    Property Details for 12240 Venice Blvd

    Year built
    1987
    Construction
    TILT-UP CONCRETE
    Lot size
    0.25 lot acres
    Property size
    13,094 SF
    Zone code
    LAC2
    Property type
    Office buildings
    APN
    4235-023-037
    APU
    4235023037

    Description

    This exceptional three-story office building at 12240 Venice Boulevard in Los Angeles, California, offers 14,000 square feet of premium executive office space. Currently, 1,053 square feet of immediately available space is perfect for a growing business seeking a prestigious location. The building features a convenient 2 parking spaces per 1000 square feet ratio, ensuring ample parking for tenants and their clients. Situated in Los Angeles County, with a zip code of 90066, this property provides easy access to major transportation arteries and a vibrant business community. The building's multiple tenancy structure allows for flexibility and a diverse professional environment. The available suite presents a unique opportunity to establish a thriving business in a highly sought-after area. This executive office space is ideal for businesses seeking a modern and efficient workspace in a prime Los Angeles location. The 1,053 square foot suite is ready for immediate occupancy, offering a blank canvas for customization to suit your specific business needs. Don't miss this chance to secure your company's future in this thriving area of Los Angeles. Contact us today to schedule a viewing and explore the possibilities. The property is located at 12240 Venice Boulevard, Los Angeles, CA 90066.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,109,000
      Market price range: $3.11M - $10.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.432
    Latitude
    34.004
    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
    $14,609
    $757,341
    $325,725
    $1,083,066
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,795,000
      7,020 SF

      3423 Mclaughlin Ave

      OFFICE BUILDING • 7,020 SF
      3423 Mclaughlin Ave, Los Angeles, CA 90066
      View Details
    • Value Estimation
      $7,210,000
      41,786 SF

      5300 Beethoven St

      OFFICE BUILDING • 41,786 SF
      5300 Beethoven St, Los Angeles, CA 90066-7069
      View Details
    • Value Estimation
      $3,905,000
      22,535 SF

      12654 Washington Blvd

      OFFICE BUILDING • 22,535 SF
      12654 Washington Blvd, Los Angeles, CA 90066-2305
      View Details
    • Value Estimation
      $19,675,000
      57,434 SF

      4800 Alla Rd

      OFFICE BUILDING • 57,434 SF
      4800 Alla Rd, Los Angeles, CA 90066-3837
      View Details
    • Value Estimation
      $19,950,000
      57,434 SF

      4820 Alla Rd

      OFFICE BUILDING • 57,434 SF
      4820 Alla Rd, Los Angeles, CA 90066-3951
      View Details
    • Value Estimation
      $7,825,000
      89,170 SF

      12555 Jefferson Blvd

      OFFICE BUILDING (MULTI-STORY) • 89,170 SF
      12555 Jefferson Blvd, Los Angeles, CA 90066-7032
      View Details

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    Similar Nearby for Lease

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      Office Space for Lease

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      Creative Flex Space Available

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    Los Angeles, CA 90066
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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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