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    Property profile & analytics

    8953 Venice Blvd Los Angeles, CA 90034

    • Retail space
    • 7,102 SF
    • 0.24 lot acres
    For Sale
    View listing
    $5,275,000
    Last Sale
    Jun 02, 2022
    $4,600,046
    Value Estimations
    Cap Rate Potential
    4.5%
    Retail space
    Location Intelligence
    Property ID
    US10-0268601
    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

    • Earl Scheib Paint & Body / Auto Repair Shop

    Property Details for 8953 Venice Blvd

    Year built
    1946
    Construction
    WOOD
    Lot size
    0.24 lot acres
    Property size
    7,102 SF
    Zone code
    LAM1
    Property type
    Retail space
    APN
    4312-012-011
    APU
    4312012011

    Description

    This exceptional 7,102 square foot storefront property, built in 1946, is situated on a 10,378 square foot lot (APN 4312-012-011) at 8953 Venice Blvd, Los Angeles, CA 90034. Boasting tremendous visibility from Venice, Robertson, and Exposition Boulevards, this single-story building benefits from its location directly off the 10 freeway's Robertson Boulevard entrance/exit and adjacent to the Culver City Expo Line Station. The property's high-traffic location is underscored by approximately 59,117 cars passing daily at the intersection of Venice and Robertson Boulevards. Furthermore, the average household income within a one-mile radius is approximately $165,947. This location offers unparalleled access to major thoroughfares and public transportation, placing it in close proximity to newly completed Warner Discovery Offices, Ivy Station, and the under-development new Apple campus. The property is zoned LAM1, presenting a significant opportunity for a variety of retail uses. The asking price for this trophy asset is $5,275,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,655,000
      ML approach
      $3,665,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,745,000
      6.5%
      $2,535,000
      7%
      $2,355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,844,000
      Market price range: $1.39M - $4.84M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,915,000
      Current use
      RESTAURANT
      $5,840,000
      Change: +100% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,860,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $3,565,000
      Change: +22% Conversion: Easy
      MEDICAL BUILDING
      $3,235,000
      Change: +11% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,175,000
      Change: +9% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,010,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.391
    Latitude
    34.0285
    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
    $58,862
    $4,265,640
    $520,200
    $4,785,840
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,512 SF

      10943 Venice Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,512 SF
      10943 Venice Blvd, Los Angeles, CA 90034-7015
      View Details
    • Value Estimation
      $980,000
      1,250 SF

      8559 Venice Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,250 SF
      8559 Venice Blvd, Los Angeles, CA 90034-2548
      View Details
    • Value Estimation
      $900,000
      2,695 SF

      2824 Robertson Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,695 SF
      2824 Robertson Blvd, Los Angeles, CA 90034-2406
      View Details
    • Value Estimation
      $610,000
      2,200 SF

      2363 Robertson Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      2363 Robertson Blvd, Los Angeles, CA 90034-2049
      View Details
    • Value Estimation
      $825,000
      2,838 SF

      2803 Robertson Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,838 SF
      2803 Robertson Blvd, Los Angeles, CA 90034-2405
      View Details
    • Value Estimation by Request
      2,754 SF

      11007 Venice Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,754 SF
      11007 Venice Blvd, Los Angeles, CA 90034-6913
      View Details

    Similar Nearby for Sale

    • $1,795,000

      Mixed-Use Development Parcel in Los Angeles

      Entitled development parcel for mixed-use building with retail and apartments.
      2502 S Robertson Blvd, Los Angeles, CA 90034
      View Details
    • $1,999,000
      4,225 SF

      Versatile Commercial Building on Motor Avenue

      M1-zoned property with retail and warehouse space in Los Angeles.
      3268 Motor Ave, Los Angeles, CA 90034
      View Details
    • $5,275,000
      7,102 SF

      Prime Venice Blvd Storefront

      7,102 SF Retail Space, High Visibility
      8953 Venice Blvd, Los Angeles, CA 90034
      View Details
    • $2,600,000
      2,022 SF

      Venice Blvd Retail Investment Opportunity

      Single tenant retail property with street exposure and parking.
      10939 Venice Blvd, Los Angeles, CA 90034
      View Details
    • $575,000

      Los Angeles Commercial Property For Sale

      Commercial property available for sale in Los Angeles, California.
      3166 S Sepulveda Blvd, Los Angeles, CA 90034
      View Details
    • $2,595,000

      Los Angeles Multifamily Investment Opportunity

      Multifamily property with upgrades and income potential in prime location.
      3337 Durango Ave, Los Angeles, CA 90034
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      1,010 SF

      Retail Space Available For Rent

      Retail space available for rent in Los Angeles, CA.
      3379-3383 Robertson Pl, Los Angeles, CA 90034
      View Details
    • $2 SF/Yr
      5,427 SF

      La Cienega Boulevard Flex Space

      Creative office, flex, showroom, or gallery space for lease.
      2683- La Cienega Blvd, Los Angeles, CA 90034
      View Details
    • Contact for pricing
      4,000 SF

      Venice Blvd Creative Office Space

      4,000 SF Creative Office for Lease
      8520 Venice Blvd, Los Angeles, CA 90034
      View Details
    • Contact for pricing
      9,400 SF

      Prime Venice Blvd. Office Space

      Los Angeles Executive Suites Available
      10401 Venice Blvd, Los Angeles, CA 90034
      View Details
    • $47 SF/Yr
      6,716 SF

      Culver City Creative Office Space

      6,716 SF Flex Space, High Ceilings
      3390 Robertson Pl, Los Angeles, CA 90034
      View Details
    • Contact for pricing
      11,440 SF

      La Cienega Blvd Retail Opportunity

      High-traffic corner retail space available.
      1976 La Cienega Blvd, Los Angeles, CA 90034
      View Details
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    8953 Venice Blvd
    Los Angeles, CA 90034
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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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