Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3009 Wabash Ave Los Angeles, CA 90033

    • Retail space
    • 3,850 SF
    • 0.21 lot acres
    For Sale
    View listing
    $1,108,800
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8698914
    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

    • Raymundo's & Angie's Outlet / Discount Store / Clothing & Fashion Store

    Property Details for 3009 Wabash Ave

    Year built
    1923
    Construction
    TILT-UP CONCRETE
    Lot size
    0.21 lot acres
    Property size
    3,850 SF
    Zone code
    LAC2
    Property type
    Retail space
    APN
    5229-029-017
    APU
    5229029017

    Description

    This exceptional Los Angeles commercial property at 3009 Wabash Avenue offers a compelling investment opportunity. The 3,850-square-foot, single-story building sits on a 9,338-square-foot lot zoned C2, providing a wide range of permitted uses, including those allowed under C1.5, C1, and CR zoning. Currently, the property boasts 100% occupancy with three tenants on month-to-month leases, generating an estimated $53,084 in annual rental income. The building, constructed in 1923, includes 10 parking spaces, facilitated by an easement over the adjacent property. Located in Boyle Heights, this property enjoys a 94 Walk Score and benefits from high daily traffic volume (over 8,494 cars). Its proximity to Downtown Los Angeles, Little Tokyo, and the Arts District adds significant value. The C2 zoning, combined with the Tier 1 TOC designation, presents a significant retail repositioning opportunity, with the potential to develop up to 25 residential units, leveraging incentives like the TOC program or the State Density Bonus Program for affordable housing components. This property offers a blend of immediate income and substantial long-term development potential in a thriving Los Angeles neighborhood. The asking price is $1,000,000, translating to $259.74 per square foot and $130.43 per square foot for land value. The property's 70 linear feet of frontage along Wabash Avenue further enhances its visibility and appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $751,000
      Market price range: $752k - $2.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.196
    Latitude
    34.0501
    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
    $4,482
    $210,158
    $99,439
    $309,597
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,413 SF

      4122 Cesar E Chavez Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,413 SF
      4122 Cesar E Chavez Ave, Los Angeles, CA 90063-3436
      View Details
    • Value Estimation by Request
      1,750 SF

      4131 Cesar E Chavez Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      4131 Cesar E Chavez Ave, Los Angeles, CA 90063-3407
      View Details
    • Value Estimation
      $4,615,000
      15,277 SF

      3601 Cesar E Chavez Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,277 SF
      3601 Cesar E Chavez Ave, Los Angeles, CA 90063
      View Details
    • Value Estimation by Request
      1,000 SF

      3968 Cesar E Chavez Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      3968 Cesar E Chavez Ave, Los Angeles, CA 90063-1849
      View Details
    • Value Estimation
      $1,185,000
      7,102 SF

      3613 1st St

      RETAIL STORES (PERSONAL SERVICES) • 7,102 SF
      3613 1st St, Los Angeles, CA 90063-2325
      View Details
    • Value Estimation
      $820,000
      2,501 SF

      3554 1st St

      RETAIL STORES (PERSONAL SERVICES) • 2,501 SF
      3554 1st St, Los Angeles, CA 90063-4142
      View Details

    Similar Nearby for Sale

    • $665,000

      Mixed-Use Property with Residential and Commercial Spaces

      Four-unit property with residential and commercial spaces in Los Angeles.
      3932 City Ter Pl, Los Angeles, CA 90063
      View Details
    • $1,600,000
      2,526 SF

      4254 Floral Dr

      Individual retail properties • 2,526 SF
      4254 Floral Dr, Los Angeles, CA 90063
      View Details
    • $700,000
      1,538 SF

      Boyle Heights Commercial Property For Sale

      Commercial property in prime location with high traffic and visibility.
      4118 Cesar E Chavez Ave E Chavez, Los Angeles, CA 90063
      View Details
    • $3,999,999
      18,000 SF

      Los Angeles Commercial Property For Sale

      Commercial property in Los Angeles with immediate cash flow.
      112 N Gage Ave, Los Angeles, CA 90063
      View Details
    • $3,999,999

      Los Angeles Commercial Property Opportunity

      Commercial property in Los Angeles with immediate cash flow potential.
      112 N Gage Ave, Los Angeles, CA 90063
      View Details
    • $799,989

      Duplex with Storefront Potential

      Duplex with detached building near DTLA, great investment opportunity.
      3127 Wabash Ave, Los Angeles, CA 90063
      View Details

    Similar Nearby for Lease

    • $0.75 SF/Yr
      25,000 SF

      Manufacturing/Warehouse Facility

      Manufacturing/Warehouse Facility
      3954 Whiteside St, Los Angeles, CA 90063
      View Details
    • Contact for pricing
      11,305 SF

      Renovated Warehouse with Yard Access

      Renovated warehouse with dock access and gated yards.
      1506-1550 Knowles Ave, Los Angeles, CA 90063
      View Details
    • Contact for pricing

      Whiteside Tech and Manufacturing

      4228 Whiteside St, Los Angeles, CA - Industrial
      4228 Whiteside St, Los Angeles, CA 90063
      View Details
    • $3,950 /Mo
      1,200 SF

      Los Angeles Warehouse with Gated Parking

      Turn-key warehouse with gated parking near downtown Los Angeles.
      3242 Fowler St, Los Angeles, CA 90063
      View Details
    • Contact for pricing
      7,500 SF

      Los Angeles Warehouse Sublease Available

      7,500 SF warehouse space available for sublease in Los Angeles.
      4003-4007 Medford St, Los Angeles, CA 90063
      View Details
    • $7,995,000
      27,000 SF

      Centrally Located Warehouse with Yard

      Expansive warehouse space with minimal posts, ample power, and yard.
      4677 Worth St, Los Angeles, CA 90063
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3009 Wabash Ave
    Los Angeles, CA 90033
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.