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

    2982 Pico Blvd Los Angeles, CA 90006-3806

    • Auto shops
    • 3,200 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $470,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-0489521
    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

    • Auto shops

    Property Details for 2982 Pico Blvd

    Year built
    1925
    Construction
    TILT-UP CONCRETE
    Lot size
    0.14 lot acres
    Property size
    3,200 SF
    Zone code
    LAC2
    Property type
    Auto shops
    APN
    5074-002-003
    APU
    5074002003

    Description

    This exceptional single-tenant industrial flex space, located at 2982 W. Pico Blvd in Los Angeles, CA 90006, offers 3,500 square feet of versatile space ideal for creative uses. Situated in the Historic West Adams submarket, near Harvard Heights/Koreatown, this property boasts a prime location. Built in 1925 and renovated in 2016, the building features a 20-foot ceiling height, exposed brick walls, and exposed bow truss ceilings, creating a unique and stylish atmosphere. The 6,000 square foot lot includes a 50-foot frontage and one drive-in bay. The property also includes two separate structures, a front and a back building. The interior features polished concrete floors throughout. Ample parking is provided with four total spaces. The property benefits from robust power: 400-600 amps, 3-phase, 4-wire, 240-480 volts. A private restroom with a shower facility is included. The property is zoned LA C2 and has an APN of 5074-002-003. This one-story building is perfect for a variety of businesses seeking a blend of industrial functionality and creative aesthetic. The property also includes a built-in cyc wall measuring 30 feet by 15 feet. This unique feature makes it particularly well-suited for film and media production.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $547,000
      Market price range: $214k - $1.46M

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.306
    Latitude
    34.0469
    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
    $10,973
    $696,348
    $144,298
    $840,646
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
      $610,000
      20,610 SF

      1200 Western Ave

      AUTO REPAIR, GARAGE • 20,610 SF
      1200 Western Ave, Los Angeles, CA 90006-3108
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    • Value Estimation
      $3,145,000
      3,809 SF

      1321 Vermont Ave

      AUTO REPAIR, GARAGE • 3,809 SF
      1321 Vermont Ave, Los Angeles, CA 90006-4501
      View Details
    • Value Estimation
      $385,000
      588 SF

      2050 Venice Blvd

      AUTO REPAIR, GARAGE • 588 SF
      2050 Venice Blvd, Los Angeles, CA 90006-5243
      View Details
    • Value Estimation
      $380,000
      5,760 SF

      1632 Venice Blvd

      AUTO REPAIR, GARAGE • 5,760 SF
      1632 Venice Blvd, Los Angeles, CA 90006-4633
      View Details
    • Value Estimation
      $375,000
      3,588 SF

      2651 Pico Blvd

      AUTO REPAIR, GARAGE • 3,588 SF
      2651 Pico Blvd, Los Angeles, CA 90006-3918
      View Details

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    Similar Nearby for Lease

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      Retail Space on Pico Boulevard

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      Prime Los Angeles Retail, 4100 SF Available
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    • $21 SF/Yr
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      Western Ave Retail Center

      Prime Los Angeles Retail Space Available
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    • $2 SF/Yr
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      Retail Space Available For Rent

      Retail space available for lease in Los Angeles, CA.
      2101 W Pico Blvd, Los Angeles, CA 90006
      View Details
    • Contact for pricing
      22,183 SF

      Freestanding Retail Building For Lease

      Prominent retail building in dense Los Angeles neighborhood.
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      View Details
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    Los Angeles, CA 90006-3806
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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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