Mixed-Use Property with Grocery
For Sale
$5,999,999
10404 Prairie Avenue, Inglewood, CA 90303
Corner commercial site includes an operating market and a two-bedroom residential rental.
Property Size6,650 SF
Lot Size0.34 Acres
Price / SF$902.26
Days on Market12
Property Features for 10404 Prairie Avenue
General Information
Standard status
Active
Size
6,650 SF
Lot size
0.34 Acres
Property subtype
General Commercial
Zoning
C-2A
Land
Land Use
commercial, residential
Entitled
No
Additional Details
Business Included
Yes
Road Access
Yes
Amenities
3
Corner Lot.
Corner.
Listing Agency:
McAlpin & Company
(310) 437-4172
Listed By:
Jerome McAlpin · License #00939725
Source:
Xome
Added: Aug 5
Changed: Aug 16
Last Checked: Aug 16 at 4:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of McAlpin & Company
Investment Insights
Based on property information with market context.
This mixed-use property at 10404 Prairie Avenue includes the existing Tomato Market grocery store and a two-bedroom residential rental. The improvements occupy a C-2A-zoned corner parcel measuring approximately 14,630 square feet, with the property offered for sale as a combined commercial and residential asset.
C-2A zoning supports consideration of heavy commercial, hospitality, and mixed-use applications, subject to verification and approvals from the City of Inglewood. The property is positioned within Inglewood’s Sports and Entertainment District, near SoFi Stadium, Intuit Dome, YouTube Theater, the Forum, and luxury office and apartment developments. The planned Inglewood Transit Connector is envisioned to link the Metro Downtown Inglewood K Line station with major venues and activity centers.
C-2A zoning supports consideration of heavy commercial, hospitality, and mixed-use applications, subject to verification and approvals from the City of Inglewood. The property is positioned within Inglewood’s Sports and Entertainment District, near SoFi Stadium, Intuit Dome, YouTube Theater, the Forum, and luxury office and apartment developments. The planned Inglewood Transit Connector is envisioned to link the Metro Downtown Inglewood K Line station with major venues and activity centers.
Key Highlights
- C‑2A‑zoned corner parcel measuring approximately 14,630 square feet
- Sale includes the existing Tomato Market grocery store
- Two‑bedroom residential rental included with the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$180,098
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,601,960
$3.6M
Cap Rate 7%
$2,572,829
$2.6M
Cap Rate 9%
$2,001,089
$2.0M
Market Conditions
NOI Build-Up for 6,650 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$245.8K $36.96/SF
− Vacancy
−$5.7K −$0.85/SF
EGI
$240.1K $36.11/SF
− OpEx
−$60.0K −$9.03/SF
NOI
$180.1K $27.08/SF
Area
Inglewood, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,601,960
Cap Rate 7%
$2,572,829
Cap Rate 9%
$2,001,089
Alternative Uses
Best Use
Specialty Retail
$2.57M
$2.25M – $3.00M
NOI $180,098 @ 7.0% cap · market cap 3.00%
Second Best
Retail
$2.40M
$2.10M – $2.80M
NOI $168,092 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$2.71M
$2.37M – $3.17M
NOI $189,924 @ 7.0% cap · market cap 3.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
73k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 88%
Hotels & Casinos 6%
Dining 4%
Electronics 2%
ARCO
Shops & Services
15,895 visits/mo
0.4 miles
ARCO
Shops & Services
15,678 visits/mo
0.5 miles
Chevron
Shops & Services
12,887 visits/mo
0.2 miles
Mobil
Shops & Services
8,286 visits/mo
0.1 miles
La Quinta Inn & Suites Inglewood
Hotels & Casinos
4,660 visits/mo
0.1 miles
Demographics for 90303, CA
24,490
Population
7,354
Households
3.3
Avg Household Size
35
Median Age
18%
College-Educated
73%
High-School Grad
1.9 sq mi
ZIP Area
12,889
Density / Sq Mi
$70,853
Median Household Income
$36,292
Median Earnings
$1,709
Median Rent
$764,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner commercial site includes an operating market and a two-bedroom residential rental.
Where is this mixed-use property located?
The property is located at 10404 Prairie Avenue Inglewood, CA.
What is the asking price?
The asking price for this property is $5,999,999.
What are key features of this property?
This property features: C‑2A‑zoned corner parcel measuring approximately 14,630 square feet; Sale includes the existing Tomato Market grocery store; Two‑bedroom residential rental included with the property
