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    959 Pico Blvd Los Angeles, CA 90021-2219
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    Property profile & analytics

    959 Pico Blvd Los Angeles, CA 90021-2219

    View on Map
    • Warehouses
    • 8,515 SF
    • 0.27 lot acres
    Off-Market
    Last Sale Feb 16, 2025
    $2,500,000
    Property ID
    US09-6482914
    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
    $2,000,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 959 Pico Blvd

    Year built
    1967
    Construction
    TILT-UP CONCRETE
    Lot size
    0.27 lot acres
    Property size
    8,515 SF
    Zone code
    LAM2
    Property type
    Warehouses
    APN
    5132-013-028
    APU
    5132013028

    Description

    This exceptional 8,515-square-foot property, located at 959 E Pico Blvd in Los Angeles, CA 90021, presents a unique opportunity for businesses seeking versatile space. The building, constructed in 1967, seamlessly blends executive office space with warehouse functionality, making it ideal for a variety of uses. The entire 8,515 square feet is currently available for lease, offering immediate occupancy. The property boasts a substantial 14-foot ceiling height in the warehouse area, providing ample vertical space for storage or specialized equipment. Convenient loading is ensured with one loading dock. Ample parking is available for employees and clients, with a total of 20 parking spaces provided on-site. Situated on a generous 11,761-square-foot lot in Los Angeles County, this property offers both functionality and strategic location. The property is classified as both Office and Industrial, and is suitable for multiple tenants. This versatile space is perfect for businesses requiring a blend of office and warehouse capabilities, offering a unique opportunity to establish a thriving operation in a prime Los Angeles location. The property's size and features make it an attractive option for companies seeking a significant footprint in a well-established area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,140,000
      6.5%
      $1,975,000
      7%
      $1,835,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,610,000
      Current use
      COMMERCIAL (GENERAL)
      $2,550,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.248
    Latitude
    34.0307
    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
    $51,555
    $3,062,207
    $710,868
    $3,773,075
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      31,628 SF

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      WAREHOUSE, STORAGE • 31,628 SF
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    • Value Estimation
      $7,850,000
      87,704 SF

      2303 11th St

      MINI-WAREHOUSE, STORAGE • 87,704 SF
      2303 11th St, Los Angeles, CA 90021-2846
      View Details
    • Value Estimation
      $1,100,000
      9,360 SF

      934 11th St

      WAREHOUSE, STORAGE • 9,360 SF
      934 11th St, Los Angeles, CA 90021-2034
      View Details
    • Value Estimation
      $8,305,000
      79,680 SF

      2010 15th St

      WAREHOUSE, STORAGE • 79,680 SF
      2010 15th St, Los Angeles, CA 90021-2823
      View Details
    • Value Estimation
      $8,880,000
      79,736 SF

      2030 15th St

      WAREHOUSE, STORAGE • 79,736 SF
      2030 15th St, Los Angeles, CA 90021-2823
      View Details
    • Value Estimation
      $565,000
      4,400 SF

      777 Ceres Ave

      WAREHOUSE, STORAGE • 4,400 SF
      777 Ceres Ave, Los Angeles, CA 90021
      View Details

    Similar Nearby for Sale

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      20,000 SF

      Downtown LA Industrial Warehouse Building

      Two-story, 20,000 SF industrial warehouse in the Fashion District.
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      14,495 SF

      Free Standing Building For Sale

      Free standing building with parking and flexible layout.
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      13,230 SF

      Two Buildings in DTLA Core

      Two buildings totaling 13,230 SF in DTLA core.
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    • $1,150,000

      Industrial Building in Opportunity Zone

      3,283 SF industrial building with office space and secure parking.
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      10,500 SF

      10,500 SF on 13,622 SF Industrial Compound: Four 1-story Buildings For Sale

      10,500 SF on 13,622 SF Industrial Compound: Four 1-story Buildings For Sale
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    • Contact for pricing
      6,000 SF

      Free Standing Warehouse For Rent

      6,000 SF warehouse with front/rear loading and gated parking.
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      View Details

    Similar Nearby for Lease

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      1,500 SF

      1,500 SF Hard-to-Find Small DTLA Warehouse

      Hard-to-Find Small DTLA Warehouse
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      Industrial Space with Freeway Access

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    • Contact for pricing
      22,000 SF

      Industrial Space Sublease Opportunity

      Sublease available through 12/31/2027 with fenced yard.
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    • $1.25 SF/Yr
      5,805 SF

      Warehouse Near Fashion District

      Warehouse space available near Flower Mart and Fashion District.
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    • $1.50 SF/Yr

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      Warehouse sublease in the Arts District through September 1, 2026.
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    • $1.25 SF/Yr

      Garment District Warehouse with Yard

      Single-story warehouse with high ceilings, loading docks, and secured yard.
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      View Details
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    Los Angeles, CA 90021-2219
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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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