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

    833 S Spring St Los Angeles, CA 90014

    • Office buildings
    • 30,048 SF
    • 0.19 lot acres
    For Lease
    View listing
    $2 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6498233
    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

    • Throttl / Software Company
    • Pirrot / Graphic Designer / Website Designer
    • Chic Studios School of Makeup / Beauty School / Cosmetics Store
    • The Hideout Salon / Hair Salon
    • The LA Creative / Photography Studio

    Property Details for 833 S Spring St

    Year built
    1924
    Construction
    TILT-UP CONCRETE
    Lot size
    0.19 lot acres
    Property size
    30,048 SF
    Zone code
    LAC5
    Property type
    Office buildings
    APN
    5144-016-054
    APU
    5144016054

    Description

    This stunning five-story, 20,500 square foot mixed-use building, constructed in 1924, is located in the heart of Los Angeles' Fashion District at 833 S. Spring Street. Currently offering 18,650 square feet of vacant space, this property presents a unique opportunity for businesses seeking executive office space. Units range from a minimum of 200 square feet to a maximum contiguous space of 12,800 square feet, catering to a variety of needs. The building boasts ample natural light and convenient on-site amenities, including Verve Coffee Roasters and secure parking for 28 vehicles (approximately 1 per 1000 sq ft). Its prime location offers easy access to major transportation hubs, and is within walking distance of key landmarks such as Cal Mart, New Mart, and the Cooper Building. The property is zoned C5 and sits on an 8,410 square foot lot in Los Angeles County. A special promotional lease rate of $0.99 per square foot, per month is available for the first six months of a three-year lease, with a modified gross rate of $2.35 per square foot, per month thereafter. This exceptional property offers a blend of historical charm and modern convenience, making it an ideal location for discerning businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,680,000
      6.5%
      $11,705,000
      7%
      $10,870,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $13,690,000
      NEIGHBORHOOD: SHOPPING CENTER
      $12,725,000
      RETAIL STORES
      $12,335,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.255
    Latitude
    34.0425
    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
    $135,252
    $3,621,845
    $7,026,384
    $10,648,229
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $17,140,000
      106,560 SF

      830 Broadway

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      View Details
    • Value Estimation
      $15,260,000
      92,670 SF

      801 Spg St

      OFFICE BUILDING (MULTI-STORY) • 92,670 SF
      801 Spg St, Los Angeles, CA 90014
      View Details
    • Value Estimation
      $975,000
      219,014 SF

      510 6th St

      OFFICE BUILDING (MULTI-STORY) • 219,014 SF
      510 6th St, Los Angeles, CA 90014-1301
      View Details
    • Value Estimation
      $10,845,000
      67,320 SF

      700 Hl St

      OFFICE BUILDING (MULTI-STORY) • 67,320 SF
      700 Hl St, Los Angeles, CA 90014-2734
      View Details
    • Value Estimation
      $1,695,000
      5,398 SF

      818 Spg St

      PROFESSIONAL BUILDING • 5,398 SF
      818 Spg St, Los Angeles, CA 90014
      View Details
    • Value Estimation by Request
      0.27 Acres

      Los Angeles, CA 90014

      OFFICE BUILDING (MULTI-STORY) • 0.27 Acres
      Los Angeles, CA 90014
      View Details

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    • $2 SF/Yr
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      Downtown Los Angeles Office Space

      Office space available for lease in downtown Los Angeles.
      833 S Spring St, Los Angeles, CA 90014
      View Details
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    833 S Spring St
    Los Angeles, CA 90014
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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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