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    1622 Gramercy Ave Torrance, CA 90501-3262
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    Property profile & analytics

    1622 Gramercy Ave, Torrance, CA 90501-3262

    View on Map
    • Retail space
    • 2,590 SF
    • 0.25 lot acres
    Off-Market
    Last Sale Dec 6, 2022
    $1,325,013
    Property ID
    US09-9092475
    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
    $1,325,000
    Show details
    Cap Rate Potential
    5.4%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Ideation Consultancy Inc. / Marketing Agency / Website Designer
    • Michael J Mulligan Dev Inc / Courier Service / Postal Service
    • Brand Thirty Three Inc. / Marketing & Advertising / Advertising Agency
    • Tru Blu Solutions Appliance Outlet / Electronics & Wireless Store / Discount Store

    Property Details for 1622 Gramercy Ave

    Year built
    2010
    Construction
    WOOD
    Lot size
    0.25 lot acres
    Zone code
    TOC1*
    Property type
    Retail space
    APN
    7355-024-043
    APU
    7355024043

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 6, 2022 $1,325,000 John Behan Gramercy Gardens LLC Grant Deed $351k · Gramercy Gardens LLC
    Mar 30, 2022 — Gramercy Gardens LLC B & J Capital Group Investments Grant Deed —
    Dec 29, 2021 $828,000 B&j Capital Group Investments Michael Mulligan Grant Deed $4.9M · Center Street Lending Corp
    Dec 10, 2021 — Michael Mulligan — Deed · related $2.4M · The Tom Accetta And Francine Accetta Tru
    Jan 17, 2019 — Michael Mulligan Mulligan,michael Quit Claim Deed · related —
    Apr 19, 2017 — Michael Mulligan — Grant Deed · related $2.5M · Premier Busn Bk
    Feb 10, 2017 $3,420,000 Michael Mulligan Silzan Co INC Trustees Deed $2.5M · Accetta Tom & Francine Tr (pt)
    Jan 5, 2012 — Mulligan,michael Mulligan,michael Quit Claim Deed · related —
    — — Michael Mulligan — Deed Of Trust · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,220,000
      ML approach
      $1,300,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,090,000
      6.5%
      $1,005,000
      7%
      $935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,443,000
      Market price range: $308k - $1.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $970,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,575,000
      Change: +62% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,200,000
      Change: +23% Conversion: Difficult
      MEDICAL BUILDING
      $1,175,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $1,080,000
      Change: +11% Conversion: Easy
      WAREHOUSE, STORAGE
      $850,000
      Change: -13% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $810,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Torrance
    County
    Los Angeles
    State
    California
    Longitude
    -118.315
    Latitude
    33.8324
    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
    $15,443
    $571,200
    $780,300
    $1,351,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,390,000
      4,782 SF

      1313 Sepulveda Blvd

      RETAIL STORES (PERSONAL SERVICES)
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      View Details
    • Value Estimation
      $2,810,000
      13,140 SF

      22840 Western Ave

      RETAIL STORES (PERSONAL SERVICES)
      22840 Western Ave, Torrance, CA 90501-5110
      View Details
    • Value Estimation
      $1,175,000
      4,250 SF

      1433 Carson St

      RETAIL STORES (PERSONAL SERVICES)
      1433 Carson St, Torrance, CA 90501-3921
      View Details
    • Value Estimation
      $4,100,000
      5,000 SF

      1790 Carson St

      RETAIL STORES (PERSONAL SERVICES)
      1790 Carson St, Torrance, CA 90501-7802
      View Details
    • Value Estimation
      $13,945,000
      29,568 SF

      19100 Harborgate Way

      RETAIL STORES (PERSONAL SERVICES)
      19100 Harborgate Way, Torrance, CA 90501-1315
      View Details
    • Value Estimation
      $1,080,000
      17,872 SF

      22700 Western Ave

      RETAIL STORES (PERSONAL SERVICES)
      22700 Western Ave, Torrance, CA 90501-4951
      View Details

    Similar Nearby for Sale

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      Three-unit retail property with flexible layout and high traffic.
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    • $1,250,000
      2,800 SF

      Torrance Commercial Space For Sale

      Prime downtown Torrance location ideal for retail or office.
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      17,872 SF

      Upholstery Retail Business Opportunity

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    • $4,200,000

      Torrance Car Wash with Redevelopment

      Established car wash with redevelopment potential in downtown Torrance.
      1831 W 213Th St, Torrance, CA 90501
      View Details
    • Contact for pricing
      1,992 SF

      Retail/Multifamily Property in Torrance

      Retail/Multifamily property with 1,992 square feet in Torrance, CA.
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    Similar Nearby for Lease

    • Contact for pricing
      11,600 SF

      Flexible Space in Old Torrance

      2528 SF space for lease in downtown Torrance.
      1321 Sartori Ave, Torrance, CA 90501
      View Details
    • Contact for pricing
      4,860 SF

      Retail Space Available For Rent

      Retail space available for lease in Torrance, California.
      1730 Sepulveda Blvd, Torrance, CA 90501
      View Details
    • Contact for pricing
      3,968 SF

      Retail Space on Sepulveda Blvd

      Retail space available for lease on Sepulveda Boulevard.
      1555 Sepulveda Blvd, Torrance, CA 90501
      View Details
    • Contact for pricing
      5,175 SF

      Torrance Retail/Office Space Available

      Retail or office space available for lease in Torrance.
      1431 W Knox St, Torrance, CA 90501
      View Details
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    Torrance, CA 90501-3262
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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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