Inglewood Retail Building Near
For Sale
Contact for pricing
244 S Market St, Inglewood, CA 90301
Multi-unit retail building near transportation and mixed-use developments.
Property Size9,168 SF
Price / SF$370.86
Days on Market930
Property Features for 244 S Market St
General Information
Standard status
Active
Size
9,168 SF
Property subtype
Retail
Zoning
DTOD/HC
Listing Agency:
CBM1 West Los Angeles
(310) 779-9565
Listed By:
Jason Ehrenpreis · License #CA 1741961
Source:
Crexi
Added: Jan 22, 2024
Changed: Aug 8
Last Checked: May 12 at 8:58PM
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 CBM1 West Los Angeles
Investment Insights
Based on property information with market context.
This multi-unit retail building is located in downtown Inglewood, situated several blocks from the new Metro station and the upcoming monorail station. The property is located at the signalized intersection of Market St & Nutwood. The building offers a value-add opportunity with two units recently leased under true NNN leases, one unit occupied by a month-to-month tenant, and one vacancy. Recent leases at strong lease rates indicate a trend towards trendy businesses and overall growth in Inglewood. The property is within several blocks of large new mixed-use developments, including Astra, a 242-unit development that includes a new Target. The property size is 9168 square feet.
Key Highlights
- Prime location in downtown Inglewood near future monorail and existing Metro station.
- Value‑add opportunity with one vacancy and a month‑to‑month tenant.
- Two units recently leased under NNN leases.
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
$231,739
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
6.82%
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%
$4,634,780
$4.6M
Cap Rate 7%
$3,310,557
$3.3M
Cap Rate 9%
$2,574,878
$2.6M
Market Conditions
NOI Build-Up for 9,168 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
$338.8K $36.96/SF
− Vacancy
−$7.8K −$0.85/SF
EGI
$331.1K $36.11/SF
− OpEx
−$99.3K −$10.83/SF
NOI
$231.7K $25.28/SF
Area
Inglewood, CA
Vacancy
2.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
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%
$4,634,780
Cap Rate 7%
$3,310,557
Cap Rate 9%
$2,574,878
Alternative Uses
Best Use
Retail
$3.31M
$2.90M – $3.86M
NOI $231,739 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,838 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,610
Businesses Nearby
246k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 33%
Groceries 32%
VONS
Groceries
47,561 visits/mo
0.2 miles
Superior Grocers
Groceries
30,382 visits/mo
0.4 miles
dd's DISCOUNTS
Shops & Services
27,882 visits/mo
0.3 miles
McDonald's
Dining
26,560 visits/mo
0.1 miles
Sizzler
Dining
23,846 visits/mo
0.5 miles
Demographics for 90301, CA
36,270
Population
12,884
Households
2.8
Avg Household Size
37
Median Age
20%
College-Educated
73%
High-School Grad
2.5 sq mi
ZIP Area
14,508
Density / Sq Mi
$62,991
Median Household Income
$33,884
Median Earnings
$1,658
Median Rent
$698,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Multi-unit retail building near transportation and mixed-use developments.
Where is this retail space located?
The property is located at 244 S Market St Inglewood, CA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Prime location in downtown Inglewood near future monorail and existing Metro station.; Value‑add opportunity with one vacancy and a month‑to‑month tenant.; Two units recently leased under NNN leases.
