Los Angeles 90016 – Two Deals Closed
Los Angeles 90016 Commercial Property Deals
Over the past year, the average days on the market for a commercial property lease in Los Angeles 90016, was 9 months. The median days on the market was 5 months at $3.50/sq. ft. We leased the above property in less than 45 days at the market price. Don’t let your property sit, call Jon Varsano to fill your vacancy now! Jon Varsano has been a licensed broker for 30 years and is an expert in the Mid City Los Angeles and West Adams markets. If your vacancy has not been leased, then let Vars Real Estate find you the right tenant, right now!
SUMMARY COMMERCIAL LEASING STATISTICS FOR LOS ANGELES 90016
RENT: High $7.52, Average $3.90, Median $3.50, Low $.89 (Price per square foot per month)
MONTHS ON MARKET: High 40, Average 9, Median 5, Low 0
DEAL SIZE: High 22,784, Average 3805, Median 2600, Low 400 (Square Footage)
Source: Costar Lease Comps, March 2022 to March 2023
Property sold is Commercial Land Vacant Lot located at the intersection of Fairfax Avenue and La Cienega across from the Blackwelder District on the border of Culver City and Mid City Los Angeles 90016. The commercial land sold for over $450/SF for Land only and was on the market for only 35 days. According to the summary stats below over the past 4 years, land sells for $190/SF and sits on the market for 135 days. Jon Varsano of Vars Real Estate sold these parcels for more than double the median price in less than one third of the time for other similar deals. If you want to sell your commercial property, let us maximize your gain in a quick efficient manner.
SUMMARY COMMERCIAL SALES STATISTICS FOR LOS ANGELES 90016
Land: Median $/Acre $8,294,812 ($190.42/SF), Median Days on Market 135
Industrial: Median $/SF $828.57
Retail: Median $/SF $766.07
Specialty: Median $/SF $1058.72
Source: Costar Sale Comps, March 2019 to March 2023