Former Rite Aid — Sale in Culver City, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Property
- Location: Culver City, CA 90232
- Size: 40,946 SF
Photos
Description
Newmark Capital Markets is pleased to present the opportunity to acquire a one of a kind Trophy Asset, on the market for the first time in over 50 years. The subject property contains an 18,390 SF free standing former Rite Aid located at the one of the busiest intersections in Los Angeles, at the corner of Overland Avenue and Venice Boulevard, in the heart of Culver City, CA . The subject property is shadow anchored by Culver Center, a 240,000 SF Power Center, featuring Best Buy, Ralph’s, LA Fitness among several shop spaces. Culver Center has historically seen very low vacancy rates. The building is 100% vacant, which provides a rare opportunity for an owner/user or investor looking to purchase a trophy asset in the prestigious Culver City/West LA market. With continuing strong demand on the retail leasing front as well as few AAA opportunities in the immediate area, this location and building will be sought after from numerous retailers looking to establish a strong presence in Culver City.
Market Context
This retail in Culver City, CA is listed for sale across 40,946 SF. Compare it against other retail listings for sale in Culver City, CA — view the full market.
As of Q2 2026, the Greater Los Angeles retail market showed a 5.6% vacancy rate, and average asking rents near $34.14/SF/yr. Source: multiple brokerage reports, Q2 2026.
Tight vacancy keeps competition for quality space elevated.
Retail market FAQ
- Is the Greater Los Angeles retail market tightening or softening?
- Vacancy is around 5.6% (Q2 2026).
Estimated Price per SF
$237.99/SF – $1,731/SF
Mid: $721.17/SF
Estimated price for 40,946 SF: $29,529,027 (range $9,744,739 – $70,869,746)
About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.
Contact the listing broker
This listing comes from the Newmark website. CREhunt does not pass messages to the broker. Contact the broker directly.
- Bryan Norcott · 1213298-3595 · bryan.norcott@nmrk.com
- Steve Bernier · 1213596-2281 · steve.bernier@nmrk.com
- Bill Bauman · 1213298-3593 · bill.bauman@nmrk.com
Questions to ask the broker
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- What is the asking price?
- What is the current zoning, and does it allow my intended use?
- How many parking spaces come with the property?
Explore this market
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