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

    3224 Olympic Blvd Los Angeles, CA 90006-3966

    • Retail space
    • 15,247 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $2,620,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-9602442
    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

    • Kang's Acupuncture Clinic / Medical Clinic / Alternative Medicine Practice
    • Express TAX Service / Tax Preparation
    • Bong Soong A Hak Dang / Restaurant
    • Dr. Jin H. Lee, DMD / Dental Office
    • Park Jun's Hair Salon / Hair Salon / Nail Salon

    Property Details for 3224 Olympic Blvd

    Year built
    2008
    Construction
    TILT-UP CONCRETE
    Lot size
    0.07 lot acres
    Property size
    15,247 SF
    Zone code
    LAC2
    Property type
    Retail space
    APN
    5080-014-029
    APU
    5080014029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.307
    Latitude
    34.0525
    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
    $26,451
    $391,731
    $1,699,844
    $2,091,575
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $845,000
      2,820 SF

      1248 Mariposa Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,820 SF
      1248 Mariposa Ave, Los Angeles, CA 90006-3222
      View Details
    • Value Estimation
      $1,325,000
      6,968 SF

      1137 Western Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,968 SF
      1137 Western Ave, Los Angeles, CA 90006
      View Details
    • Value Estimation
      $895,000
      4,228 SF

      2569 Olympic Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,228 SF
      2569 Olympic Blvd, Los Angeles, CA 90006
      View Details
    • Value Estimation
      $2,740,000
      17,940 SF

      2340 Pico Blvd

      RETAIL STORES (PERSONAL SERVICES) • 17,940 SF
      2340 Pico Blvd, Los Angeles, CA 90006-4002
      View Details
    • Value Estimation
      $1,080,000
      6,777 SF

      2121 Pico Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,777 SF
      2121 Pico Blvd, Los Angeles, CA 90006-4915
      View Details
    • Value Estimation
      $1,960,000
      7,950 SF

      2010 Pico Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,950 SF
      2010 Pico Blvd, Los Angeles, CA 90006-5017
      View Details

    Similar Nearby for Sale

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      Mixed-Use Building in Pico Union

      43-unit mixed-use building with commercial spaces and upside potential.
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      Fully Leased Retail Strip on Pico

      High-performing retail center with stable tenants and strong income.
      2271 W Pico Blvd, Los Angeles, CA 90006
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      Pico/Union Commercial Property

      Pico/Union Commercial Property
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      Profitable Business in Koreatown, Los Angeles

      Established check-cashing business with multiple income streams in prime location.
      2812 James M Wood Blvd, Los Angeles, CA 90006
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      Koreatown Showroom-Warehouse on Large Lot

      Commercial property with showroom-warehouse in Koreatown, Los Angeles.
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    Similar Nearby for Lease

    • Contact for pricing
      22,183 SF

      Freestanding Retail Building For Lease

      Prominent retail building in dense Los Angeles neighborhood.
      1815 S Vermont Ave, Los Angeles, CA 90006
      View Details
    • $3 SF/Yr
      1,224 SF

      Retail Space on Pico Boulevard

      Retail space available for rent on West Pico Boulevard.
      2105 W Pico Blvd, Los Angeles, CA 90006
      View Details
    • $21 SF/Yr
      24,055 SF

      Western Ave Retail Center

      Prime Los Angeles Retail Space Available
      1700 Western Ave, Los Angeles, CA 90006
      View Details
    • $2 SF/Yr
      717 SF

      Retail Space Available For Rent

      Retail space available for lease in Los Angeles, CA.
      2101 W Pico Blvd, Los Angeles, CA 90006
      View Details
    • $42 SF/Yr
      1,800 SF

      Olympic Blvd Restaurant Space

      Prime LA location, 1800 sq ft.
      2300A Olympic Blvd, Los Angeles, CA 90006
      View Details
    • $18 SF/Yr
      21,653 SF

      Olympic-Hoover Center Office Suites

      LA Office Space: Prime Location, Flexible Sizes
      2300 Olympic Blvd, Los Angeles, CA 90006
      View Details
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    3224 Olympic Blvd
    Los Angeles, CA 90006-3966
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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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