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Commercial Property for Sale 2018

Commercial Property for Sale 2018 YTD Report for Culver City

The Commercial Property for Sale in the Culver City Submarket of West Los Angeles continues to rise steadily. The following summary report shows the 2018 year to date sales of office, retail, and commercial properties as reported by CoStar. These properties represent the top 3 highest priced closed sales transactions for this year for each property category. Despite solid price increases in the past few years, the Culver City market continues to show strong price growth with no signs of cooling down. Because of several major developments currently under construction property values should increase well into 2019, as long as the regional and national economy remains robust.

The median price per square foot is probably the most accurate gage of the current market pricing. Industrial is $517.27. Office is $700.00. Finally, retail reigns supreme at $835.82. Even though Toys ‘R Us and other large brick and mortar retailers are going out of business, retail property prices remain high and perhaps the plethora of mixed use developments with ground floor retail and given them an unexpected price boost. Surprisingly, Office is still relatively affordable compared to other submarkets on the Westside. Industrial properties are a scarcity anywhere on the Westside with creative offices taking over. Industrial property at over $500 per square foot must to shocking to other parts of the country, but that is the market reality of large urban commercial real estate sales in 2018.

Office Space – Commercial Property for Sale Median Price 2018 YTD

  • Price (For Sale): $3,500,00.00
  • Price per sq ft (For Sale): $700.00

Office Property - Culver City Commercial Property for Sale

 

Top Office Properties Sold – 2018 YTD

11101 Washington Blvd. Culver City, CA 90232

  • Building sq. ft.: 8,230
  • Sale Price: $5,450,000.00

 11133 Washington Blvd. Culver City, CA 90232

  • Building sq. ft.: 8,546
  • Sale Price: $5, 400,000.00

6047 Bristol Pkwy, Culver City CA 90230

  • Building sq. ft.: 8,160
  • Sale Price: $4,399,000.00

5707-5709 Mesmer Avenue, Culver City, CA 90230

  • Bldg sq. ft.: 4,000
  •  Sale Price: $3,500,000.00

Kirk Douglas Theater - Culver City - Commercial Property for Sale

 

Retail Buildings – Commercial Property for Sale Median Price 2018 YTD

Price (For Sale): $2,8000,000.00

Price per sq ft (For Sale): $835.82

 

Top Retail Properties Sold – 2018 YTD

Property Address: 5431-5441 Sepulveda Blvd. Culver City, CA 90230

Bldg sq. ft.: 9,844

Property Type: Retail

Sale Price: $4,650,000.00

 

Property Address: 4228 Sepulveda Blvd, Culver City CA 90230

Bldg sq. ft.: 5,983

Sale Price: $2,800,000.00

Property Address: 4406-4408 Sepulveda Blvd, Culver City CA 90230

Bldg sq. ft.: 4,054

Sale Price: $2,450,000.00

 

Industrial Property - Culver City 2018 Commercial Property for Sale

Industrial Properties – Commercial Property for Sale Median Price 2018 YTD

Price (For Sale): LOW- $568,997.00 AVERAGE- $4,809,741.00 MEDIAN- $1,373,870.00 HIGH- $24,822,187.00

Price per sq ft (For Sale): LOW- $498.41 AVERAGE- $800.02 MEDIAN- $517.27 HIGH- $1,123.33

 

Top Industrial Properties Sold – 2018 YTD

8870 Washington Blvd. Culver City, CA 90232

  • Bldg sq. ft.: 28,452
  • Sale Price: $24,822,187.00

5900-5914 Smiley Dr, Culver City CA 90232

  • Bldg sq. ft.: 2,400
  • Sale Price: $2,696,000.00

6800 S . Centinela Ave, Culver City CA 90230

  • Bldg sq. ft.: 2,731
  • Sale Price: $1,800,000.00

If you would like more information about a particular community or property type, please contact Vars Real Estate for a complimentary analysis.

Jon Varsano – Broker Info

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