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

    2123 Artesia Blvd Redondo Beach, CA 90278-3013

    • Retail space
    • 2,798 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2021
    $1,225,012
    Value Estimations
    $1,155,000
    Show details
    Cap Rate Potential
    5.1%
    Retail space
    Location Intelligence
    Property ID
    US09-7883798
    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

    • Dave's Olde Book Shop / Book Store / Rare Book Store
    • Hookah Hut Hookah Lounge / Middle Eastern Restaurant / Sports Bar

    Property Details for 2123 Artesia Blvd

    Year built
    1947
    Construction
    TILT-UP CONCRETE
    Lot size
    0.15 lot acres
    Property size
    2,798 SF
    Zone code
    RBC-2
    Property type
    Retail space
    APN
    4155-031-023
    APU
    4155031023

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,225,000
      ML approach
      $1,205,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,030,000
      6.5%
      $950,000
      7%
      $885,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,920,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,705,000
      Change: -11% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,630,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Redondo Beach
    County
    Los Angeles
    State
    California
    Longitude
    -118.373
    Latitude
    33.8732
    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
    $15,016
    $988,380
    $286,110
    $1,274,490
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $425,000
      7,056 SF

      Redondo Beach, CA 90278

      RETAIL STORES (PERSONAL SERVICES) • 7,056 SF
      Redondo Beach, CA 90278
      View Details
    • Value Estimation
      $400,000
      2,178 SF

      1989 Artesia Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,178 SF
      1989 Artesia Blvd, Redondo Beach, CA 90278-2907
      View Details
    • Value Estimation
      $355,000
      2,400 SF

      2107 Artesia Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      2107 Artesia Blvd, Redondo Beach, CA 90278-3013
      View Details
    • Value Estimation
      $1,280,000
      1,800 SF

      2606 Artesia Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      2606 Artesia Blvd, Redondo Beach, CA 90278-3312
      View Details
    • Value Estimation
      $2,385,000
      2,200 SF

      1328 Aviation Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      1328 Aviation Blvd, Redondo Beach, CA 90278-4056
      View Details
    • Value Estimation
      $305,000
      2,200 SF

      2800 Phelan Ln

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      2800 Phelan Ln, Redondo Beach, CA 90278-1503
      View Details

    Similar Nearby for Sale

    • $2,799,999
      3,218 SF

      Redondo Beach Retail Opportunity

      Prime corner lot, vacant retail building.
      2500 Artesia Blvd, Redondo Beach, CA 90278
      View Details
    • $1,950,000
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      Redondo Beach Retail Property

      Fully occupied retail property with long-term tenants in Redondo Beach.
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      Crafted Townhome with Modern Amenities

      Elegantly designed townhome featuring a chef’s kitchen and spa-like primary suite.
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      Turnkey 6-unit apartment community in the heart of Redondo Beach.
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      New Construction Coastal Townhome

      New three-level townhome in Redondo Beach with modern design.
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      North Redondo Beach Multifamily Investment

      Five-unit property in North Redondo Beach, ideal for investors.
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    Similar Nearby for Lease

    • $2 SF/Yr
      950 SF

      Retail Space Available For Rent

      Retail space available for rent in Redondo Beach, CA.
      2205 Artesia Blvd, Redondo Beach, CA 90278
      View Details
    • $2,480 /Mo
      1,127 SF

      Redondo Beach Commercial Space Available

      Office and retail space available for lease in Redondo Beach.
      Artesia Blvd, Redondo Beach, CA 90278
      View Details
    • Contact for pricing
      2,722 SF

      Redondo Beach Retail Center

      Prime location, 2,722 sq ft available.
      3407 Inglewood Ave, Redondo Beach, CA 90278
      View Details
    • Contact for pricing

      Redondo Beach Retail Opportunity

      Fully leased retail property in Redondo Beach, California.
      1501-1505 Aviation Blvd, Redondo Beach, CA 90278
      View Details
    • Contact for pricing
      117,267 SF

      Redondo Beach Retail Opportunity

      High-traffic retail space, prime location
      1509 Hawthorne Blvd, Redondo Beach, CA 90278
      View Details
    • Contact for pricing
      51,229 SF

      Redondo Beach Industrial Facility

      Freestanding building with fenced yard, near the beach.
      3730 Redondo Beach Ave, Redondo Beach, CA 90278
      View Details

    Property Visit Statistics

    • Visits by month
      18.4k
    • Visitors by month
      15.9k
    • Avg Time on site
      12 min
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    Redondo Beach, CA 90278-3013
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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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