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

    7008 Canby Ave Reseda, CA 91335-4301

    • Auto shops
    • 1,825 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Dec 06, 2024
    $2,250,000
    Value Estimations
    $2,250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8778785
    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

    • Foriegn and Domestic Autobody / Auto Body Shop
    • L & M Auto Body / Auto Body Shop

    Property Details for 7008 Canby Ave

    Year built
    1959
    Construction
    TILT-UP CONCRETE
    Lot size
    0.17 lot acres
    Property size
    1,825 SF
    Zone code
    LAM1
    Property type
    Auto shops
    APN
    2125-005-010
    APU
    2125005010

    Description

    This exceptional mixed-use investment property, located at 7008 Canby Ave, Los Angeles, CA 91335, presents a rare opportunity in the competitive Los Angeles market. The property consists of a 6,025 square foot building situated on a substantial 15,092 square foot lot, offering ample space for both indoor and outdoor operations. Currently operating as a thriving auto body shop and repair facility, the property boasts three tenants on month-to-month leases, generating a gross monthly rent of $7,545. The building is classified as Class C and features a large M1 yard and spray booth, ideal for automotive repair businesses. The asking price is $2,990,000, translating to a price per square foot of $496.27. This fee-simple ownership opportunity is categorized as an institutional investment, suitable for both owner-users and investors seeking a strong return. The property's 100% occupancy rate underscores its consistent profitability and desirability. This is a turnkey operation with significant potential for growth and expansion within the established automotive repair sector. The property's location in Los Angeles, within Los Angeles County, provides excellent access to a large customer base. This is a two-property portfolio, including an additional property at 18419 Hart St. (details not provided).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,250,000
      ML approach
      $2,250,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,776,000
      Market price range: $370k - $1.78M

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

    Location Insight

    • Map
    • Local Demand
    City
    Reseda
    County
    Los Angeles
    State
    California
    Longitude
    -118.534
    Latitude
    34.1978
    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
    $10,771
    $670,125
    $187,634
    $857,759
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $600,000
      14,776 SF

      7528 Reseda Blvd

      AUTO REPAIR, GARAGE • 14,776 SF
      7528 Reseda Blvd, Reseda, CA 91335-7460
      View Details
    • Value Estimation by Request
      6,500 SF

      18520 Wyandotte St

      AUTO REPAIR, GARAGE • 6,500 SF
      18520 Wyandotte St, Reseda, CA 91335-8150
      View Details
    • Value Estimation by Request
      4,287 SF

      18418 Vanowen St

      AUTO REPAIR, GARAGE • 4,287 SF
      18418 Vanowen St, Reseda, CA 91335-5311
      View Details
    • Value Estimation by Request
      3,875 SF

      18101 Saticoy St

      AUTO REPAIR, GARAGE • 3,875 SF
      18101 Saticoy St, Reseda, CA 91335-3120
      View Details
    • Value Estimation by Request
      7,840 SF

      7045 Canby Ave

      AUTO REPAIR, GARAGE • 7,840 SF
      7045 Canby Ave, Reseda, CA 91335-4302
      View Details
    • Value Estimation
      $1,190,000
      12,779 SF

      7345 Canby Ave

      AUTO REPAIR, GARAGE • 12,779 SF
      7345 Canby Ave, Reseda, CA 91335-3011
      View Details

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    7008 Canby Ave
    Reseda, CA 91335-4301
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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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