301 N Prairie Ave - Medical FOR SALE


Inglewood, CA 90301
$14,867,475 USD
310-686-7255
301 N Prairie Ave, Inglewood, CA for Sale
$14,867,475 USD
Medical - FOR SALE
1/13
null | Request Cap Rate

301 N Prairie Ave
Inglewood, CA 90301


HIGHLIGHTS

  • ATTRACTIVE OWNER-USER MID-RISE MEDICAL PROFFESIONAL OFFERING
  • EXCEPTIONAL MARKET FUNDAMENTALS
  • IN-FILL HIGH-GROWTH LOCATION WITH A PIPELINE OF AMENITIES

OVERVIEW

OWNER-USER OPPORTUNITY IN INGLEWOOD * Attractive Mid-Rise Medical Professional Offering | 301 N. Prairie Avenue ("the Property") presents an incredible opportunity for an owner-user to acquire one of the highest image, office buildings in Inglewood, California. The six-story building, consisting of ±84,957 square feet, overlooks a 200-acre green park and is within a walking distance along Prairie Avenue to a brand-new stadium complex that has seen close to more than $10 billion of investments in the last decade. * Flexible Owner-User Opportunity | At ±60% occupied, the property offers an owner-user up to ±84,957 SF of occupancy over time. With flexibility in the current leases, and potential ability to relocate tenants, a user can free up large blocks of space throughout the building. * Corporate User Opportunity | This is an ideal corporate headquarter investment that provides an attractive lease-saving trade-off. The purchase provides protection against future rental market uncertainty and rate hikes, as well as after-tax equity accumulation. * Development Potential | According to the City of Inglewood’s Housing Element report for the 2021- 2029 cycle, the city’s Regional Housing Need Allocation is expected to be an additional ±7,439 units. The Property’s current zoning conditionally permits several commercial uses, including multi-family development. EXCEPTIONAL MARKET FUNDAMENTALS * Top Investment Market | According to CBRE’s Investor Survey, Los Angeles is among the top investment regions in the Americas in 2024 among investors, reflecting the region’s resilient market fundamentals. With strong employment and an attractive quality of life, Los Angeles is a highly sought-after gateway market. * Ideal Healthcare Market | The Property is less than 2 miles from Centinela Hospital Medical Center, a 345-bed hospital that is part of Prime Healthcare, the fifth largest for-profit health system in the United States. This proximity creates a healthcare ecosystem that pull patients to the Property. * Limited Medical Office Vacancy | The medical office vacancy in the Inglewood/South LA submarket stood at ±4.6% in 3Q24, according to Costar. Currently, no other medical office building above 50,000 SF is available for sale in the submarket. IN-FILL HIGH-GROWTH LOCATION WITH A PIPELINE OF AMENITIES * Centralized Los Angeles Location | Inglewood, California is offers a convenient location in Greater Los Angeles. The city’s west-side location offers easy access between the region’s beach cities and inland areas. It offers exceptional proximity to leading transportation hubs and job centers, including nearby “Silicon Beach.” * Multi-modal Transportation Access | The surrounding multi-modal transit hub offers ease of commute for the region’s workforce as well as proximity to executive and workforce housing. Located minutes from LAX Airport, the Property is 2 miles from I-405 and 3 miles from I-105. It is within walking distance to a new LA Metro’s K Line station. Such access to critical infrastructure is as important as ever for business success and employee retention. * Economic Renaissance | Inglewood’s redevelopment of Hollywood Park brings new life to the city. With investments approaching $10 billion, the project is positioning Inglewood as the destination for such future marquee events as NBA All-Star Weekend and FIFA World Cup in 2026, Super Bowl LVI in 2027, and the 2028 Summer Olympics.

FOR SALE DETAILS

PRICE

$14,867,475 USD

PRICE/SF

$175 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Freeman Professional Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

6

BUILDING CLASS

A

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

172

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,572 SF

ZONING

R-M, Inglewood

APN/PARCEL ID

4015-024-021

ASK ABOUT THIS PROPERTY

Bill MaherCBRE, Inc.More Info
310-686-7255

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Bill MaherCBRE, Inc.More Info
310-686-7255

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.