Lincoln Medical Building For
For Sale
$30,830,000
3331 N Broadway Los, Los Angeles, CA 90031
Medical building 100% leased, anchored by County of Los Angeles.
Property Size51,722 SF
Price / SF$596.07
Days on Market207
Property Features for 3331 N Broadway Los
General Information
Standard status
Active
Size
51,722 SF
Property subtype
Office
Listing Agency:
Industry Partners
(310) 387-3131
Listed By:
Kevin Shannon · License #CA RE Lic. #00836549
Source:
Nmrk
Added: Jan 27
Changed: Aug 19
Last Checked: Aug 22 at 5:13AM
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 Industry Partners
Investment Insights
Based on property information with market context.
The Lincoln Medical Building, located at 3303-3331 Broadway, Los Angeles, is available for acquisition. This 51,722 square foot property was designed and constructed for the Los Angeles County Department of Mental Health (LACDMH). The property is 100% leased to three tenants and is anchored by the County of Los Angeles Department of Mental Health, which occupies approximately 84% of the property.
Key Highlights
- 84% leased to investment‑grade County of Los Angeles Department of Mental Health.
- Assumable loan of $19,000,000 at 3.90% interest only with maturity date of 2/6/2030.
- 100% leased to three tenants.
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
$1,227,686
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
3.98%
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%
$24,553,720
$24.6M
Cap Rate 7%
$17,538,371
$17.5M
Cap Rate 9%
$13,640,956
$13.6M
Market Conditions
NOI Build-Up for 51,722 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
$2.01M $38.88/SF
− Vacancy
−$374.0K −$7.23/SF
EGI
$1.64M $31.65/SF
− OpEx
−$409.2K −$7.91/SF
NOI
$1.23M $23.74/SF
Area
Los Angeles, CA
Vacancy
18.60%
Lease Rate
$38.88 /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%
$24,553,720
Cap Rate 7%
$17,538,371
Cap Rate 9%
$13,640,956
Alternative Uses
Best Use
Office B
$17.54M
$15.35M – $20.46M
NOI $1,227,686 @ 7.0% cap · market cap 3.98%
Second Best
Healthcare Medical
$13.70M
$11.99M – $15.99M
NOI $959,298 @ 7.0% cap · market cap 3.11%
Theoretical Best
Multifamily LT 5
$1,047.86M
$916.87M – $1,222.50M
NOI $73,349,967 @ 7.0% cap · market cap 237.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,831
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90031, CA
37,333
Population
12,686
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
66%
High-School Grad
3.5 sq mi
ZIP Area
10,667
Density / Sq Mi
$62,119
Median Household Income
$34,356
Median Earnings
$1,487
Median Rent
$758,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Medical Office Space - Medical building 100% leased, anchored by County of Los Angeles.
Where is this medical office space located?
The property is located at 3331 N Broadway Los Los Angeles, CA.
What is the asking price?
The asking price for this property is $30,830,000.
What are key features of this property?
This property features: 84% leased to investment‑grade County of Los Angeles Department of Mental Health.; Assumable loan of $19,000,000 at 3.90% interest only with maturity date of 2/6/2030.; 100% leased to three tenants.
