244 Market StInglewood, CA 90301

Property Details for 244 Market St

Year built

1933

Construction

TILT-UP CONCRETE

Lot size

0.25 AC

Property size (Sq ft)

8,560 SF

Zone code

INC1*

Property type

Retail space

APN

4021-013-017

APU

4021013017

Description

This exceptional value-add retail property, located at 244-268 S Market St in Inglewood, CA 90301, presents a compelling investment opportunity. The 9,168 square foot building boasts a prime location in the heart of downtown Inglewood, just blocks from the new Metro station and the upcoming monorail station, ensuring high visibility and accessibility. Currently housing four tenants, with a 75% occupancy rate, the property features a mix of lease structures, including two recently signed true NNN leases, one month-to-month tenancy, and one vacant unit. Recent lease agreements demonstrate strong rental rates, reflecting the area's growing popularity and influx of trendy businesses. The property's strategic position near major developments, such as the 242-unit Astra development (including a new Target), further underscores its potential for appreciation. This multi-tenant building offers a stable cash flow with a projected 9%+ cap rate upon full occupancy. Its proximity to SOFI Stadium and the Forum, less than a mile away, adds to its desirability. The property benefits from a Walk Score of 94, indicating a highly walkable and vibrant neighborhood. The asking price is $3,400,000, translating to $370.86 per square foot. This is a rare chance to acquire a well-positioned, multi-tenant retail property in a rapidly developing area of Inglewood. The property is situated at a signalized intersection of Market St & Nutwood, offering excellent street visibility. This NNN investment presents a strong value-add opportunity with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,802,870

  6.5%

  $2,587,260

  7%

  $2,402,460

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,692,880

  Geo Method

  $1,692,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,119,300

  Mixed-Use / Specialty

  $2,548,190

  Hospitality / Lodging

  $1,830,650

  Office

  $2,501,950

  Institutional / Educational

  $2,638,420

  Residential Income

  $3,086,950

  Multifamily

  $3,867,830

  Automotive / Energy

  $2,261,500

  Parking / Income-Based Land

  $809,913

  Restaurant / Food Service

  $1,261,610

  Healthcare / Senior Housing

  $2,643,730

Location Insight

City

Inglewood

County

Los Angeles

State

California

Latitude

33.9608

Longitude

-118.352

CBSA code

31080

CBSA name

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

Property Tax & Assessments

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