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

    8483 Melrose Ave West Hollywood, CA 90069-5305

    • Retail space
    • 3,200 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Feb 25, 2021
    $750,007
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    9.9%
    Retail space
    Location Intelligence
    Property ID
    US09-9901733
    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

    • Retail space

    Property Details for 8483 Melrose Ave

    Year built
    1951
    Construction
    TILT-UP CONCRETE
    Lot size
    0.10 lot acres
    Property size
    3,200 SF
    Zone code
    WDC1A*
    Property type
    Retail space
    APN
    5528-017-052
    APU
    5528017052

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $750,000
      ML approach
      $840,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,240,000
      6.5%
      $1,145,000
      7%
      $1,060,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $479,000
      Market price range: $173k - $480k

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

    Location Insight

    • Map
    • Local Demand
    City
    West Hollywood
    County
    Los Angeles
    State
    California
    Longitude
    -118.376
    Latitude
    34.0825
    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
    $71,527
    $4,165,241
    $1,777,523
    $5,942,764
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $330,000
      3,000 SF

      9085 Santa Monica Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      9085 Santa Monica Blvd, West Hollywood, CA 90069-5520
      View Details
    • Value Estimation
      $285,000
      18,906 SF

      8491 Santa Monica Blvd

      RETAIL STORES (PERSONAL SERVICES) • 18,906 SF
      8491 Santa Monica Blvd, West Hollywood, CA 90069-4218
      View Details
    • Value Estimation
      $320,000
      6,335 SF

      8920 Melrose Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,335 SF
      8920 Melrose Ave, West Hollywood, CA 90069-5614
      View Details
    • Value Estimation
      $575,000
      20,447 SF

      8525 Melrose Ave

      RETAIL STORES (PERSONAL SERVICES) • 20,447 SF
      8525 Melrose Ave, West Hollywood, CA 90069-5114
      View Details
    • Value Estimation by Request
      3,200 SF

      8478 Melrose Pl

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      8478 Melrose Pl, Los Angeles, CA 90069-5308
      View Details
    • Value Estimation
      $265,000
      2,665 SF

      8432 Melrose Pl

      RETAIL STORES (PERSONAL SERVICES) • 2,665 SF
      8432 Melrose Pl, Los Angeles, CA 90069-5308
      View Details

    Similar Nearby for Sale

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      Melrose Ave Storefront Investment

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      Retail Space For Sale

      Retail space available for sale in Los Angeles.
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      Two-Story Retail Building For Sale

      Two-story retail building featuring HVAC, restrooms, and gated parking.
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    Similar Nearby for Lease

    • $13 SF/Yr
      2,500 SF

      Melrose Avenue Retail/Showroom Space

      Retail/showroom space featuring glass front, high ceilings, and natural light.
      8400-8410 Melrose Ave, Los Angeles, CA 90069
      View Details
    • Contact for pricing

      Prime West Hollywood Leasing Opportunity

      Retail or office space in a sought-after West Hollywood location.
      West Hollywood, CA 90069
      View Details
    • Contact for pricing
      1,263 SF

      West Hollywood Retail Space Available

      Retail space available for lease in West Hollywood, CA.
      8358 Santa Monica Blvd, West Hollywood, CA 90069
      View Details
    • Contact for pricing
      1,537 SF

      Retail Space on Santa Monica

      Retail space available for lease in West Hollywood, CA.
      8704 Santa Monica Blvd, West Hollywood, CA 90069
      View Details
    • $2 SF/Yr
      5,365 SF

      Santa Monica Blvd Retail/Office Space

      Retail, office, light assembly, or showroom space available for lease.
      12418-12436 Santa Monica Blvd, Los Angeles, CA 90069
      View Details
    • $81 SF/Yr
      2,885 SF

      Melrose Ave Retail Showroom Space

      Prime Los Angeles showroom, 2885 sq ft.
      8371 Melrose Ave, Los Angeles, CA 90069
      View Details
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    8483 Melrose Ave
    West Hollywood, CA 90069-5305
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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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