626 Spring StLos Angeles, CA 90014

Property Details for 626 Spring St

Year built

1912

Construction

TILT-UP CONCRETE

Lot size

0.19 AC

Property size (Sq ft)

45,396 SF

Zone code

LAC2

Property type

Residential income properties

Property subtype

High-rise multifamily apartments

APN

5144-001-021

APU

5144001021

Description

This exceptional 1,932-square-foot retail space, located at 626 S Spring St in Los Angeles, CA 90014, presents a unique opportunity for restaurant operators. Situated in the vibrant heart of Downtown Los Angeles, this single-tenant property benefits from a high concentration of foot traffic, both during the day and evening. The property's strategic location places it within close proximity to numerous popular restaurants, bars, and retail establishments, ensuring a bustling and dynamic environment. The area boasts a significant resident population and a substantial influx of hotel guests, providing a consistent customer base. Furthermore, the property's proximity to major cultural attractions such as The Theatre at The Ace Hotel, The Los Angeles Theatre, The Broad, and Walt Disney Concert Hall, guarantees a steady stream of visitors. Neighboring businesses include a diverse range of popular eateries and cafes, including Exchange LA, Guisado's, Tacos 1986, Blu Jam Café, Tierra Mia Coffee, Verve Coffee, Starbucks, Silverlake Ramen, and Joe's Pizza, creating a synergistic and thriving commercial ecosystem. This fully vacant space offers immediate occupancy and the potential to establish a thriving restaurant business in a highly desirable location. The property is located in Los Angeles County.

• CAP approach

  CAP return

  Valuation

  6%

  $16,603,448

  6.5%

  $15,326,259

  7%

  $14,231,526

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,380,380

  Geo Method

  $13,380,380

• Alternative Use

  Use

  Valuation

  Residential

  $15,326,259

  Hospitality

  $14,038,771

  Educational

  $11,680,093

  Medical

  $12,081,789

  Retail

  $18,169,034

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0451

Longitude

-118.251

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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