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    3500 Wilshire Blvd Los Angeles, CA 90010-2309
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    Property profile & analytics

    3500 Wilshire Blvd, Los Angeles, CA 90010-2309

    View on Map
    • Banks
    • 16,599 SF
    • 0.43 lot acres
    Off-Market
    Last Sale Sep 26, 2022
    $22,500,225
    Property ID
    US09-8157930
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Carl's Jr. / Restaurant / Take-out & Catering
    • The 8th Notch / Restaurant
    • 7-Eleven / Grocery & Convenience Store
    • Western Union / Bank / Credit Union
    • Stacey Sing / Foster Care Service / Social Service Agency

    Property Details for 3500 Wilshire Blvd

    Year built
    1956
    Construction
    STEEL FRAME
    Lot size
    0.43 lot acres
    Zone code
    LAC4
    Property type
    Banks
    APN
    5094-001-020
    APU
    5094001020

    Description

    This exceptional 10,837 square foot space, located on the second floor of 3500 Wilshire Boulevard in the vibrant Koreatown neighborhood of Los Angeles County, presents a unique opportunity for a dynamic food and beverage concept. Situated at the intersection of Normandie and Wilshire, this property boasts unparalleled visibility and accessibility, being steps away from the renowned Line Hotel and the Metro D Line. The space is currently a vacant food hall, offering expansive street views and significant potential. The layout includes five fully equipped kitchens and two bar areas, making it ideally suited for a multi-faceted operation, such as a restaurant with an integrated ghost kitchen for efficient food delivery services. The versatile design also lends itself to alternative uses, including event hosting or filming locations. The entire building encompasses 21,222 square feet, and this specific space is part of a multi-tenant building. This is a rare chance to establish a thriving business in a high-traffic, high-demand location within one of Los Angeles's most exciting and culturally rich districts. The property's proximity to public transportation and popular attractions ensures a steady flow of potential customers. Don't miss this chance to secure a prime location in the heart of Koreatown.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.301
    Latitude
    34.0614
    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
    $54,429
    $3,694,282
    $615,709
    $4,309,991
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $615,000
      6,607 SF

      4333 Wilshire Blvd

      FINANCIAL BUILDING
      4333 Wilshire Blvd, Los Angeles, CA 90010-3701
      View Details
    • Value Estimation
      $1,185,000
      69,300 SF

      3545 Wilshire Blvd

      FINANCIAL BUILDING
      3545 Wilshire Blvd, Los Angeles, CA 90010-4300
      View Details
    • Value Estimation
      $14,275,000
      32,208 SF

      3100 Wilshire Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3100 Wilshire Blvd, Los Angeles, CA 90010-1202
      View Details
    • Value Estimation
      $11,060,000
      35,128 SF

      Los Angeles, CA 90010

      RETAIL STORES (PERSONAL SERVICES)
      Los Angeles, CA 90010
      View Details
    • Value Estimation
      $780,000
      4,720 SF

      3820 Wilshire Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3820 Wilshire Blvd, Los Angeles, CA 90010-3203
      View Details
    • Value Estimation
      $1,075,000
      3,192 SF

      Los Angeles, CA 90010

      RETAIL STORES (PERSONAL SERVICES)
      Los Angeles, CA 90010
      View Details

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      Luxurious High-Rise Retail and Apartments

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    Los Angeles, CA 90010-2309
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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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