Prime Miracle Mile location, 22,568 SF, 100% occupied.
Property size:
22,568 SF
Description
Added:
Dec 11, 2024
Days on Market:
391
This exceptional four-story, 22,568-square-foot medical office building is situated on a 12,763-square-foot lot in the highly sought-after Miracle Mile neighborhood of West Hollywood, California. Built in 1990, the property boasts a stunning Mediterranean Garden style architecture, featuring multiple courtyards, private terraces, and lush landscaping, creating a tranquil oasis in a bustling commercial district. The building offers a 4:1,000 square foot parking ratio and is currently 100% occupied by a diverse range of medical and office tenants, including physical therapy centers, a vision center, entertainment industry offices, and holistic health services. The property generates a substantial net operating income (NOI) of $648,854, with an asking price of $14,500,000, resulting in a price per square foot of $642. Located at 955 Carrillo Drive, zip code 90048, the building benefits from its proximity to major thoroughfares, offering high visibility and accessibility. The property's LAC2 zoning and current Certificate of Occupancy allow for a variety of office, retail, and medical uses. This presents a unique owner-user opportunity with approximately 15,875 square feet potentially available. The building's prime location within the Carthay Circle Garden Plaza provides easy access to numerous dining, shopping, and entertainment options, including the Beverly Center and The Grove, and is conveniently located near Cedars Sinai Hospital. With a Walk Score of 91, this property offers unparalleled convenience and accessibility. The high average daily traffic volume of 21,509 vehicles on Carrillo Drive further enhances its desirability.
Property Features for 955 Carrillo Dr
General Information
Property type
Medical offices
Square Feet
22,568 SF
Building Details
Year Built
1990
Stories
4
HighLights
Highly desirable boutique medical office building in West Hollywood's Miracle Mile.
Built in 1990.
Mediterranean Garden‑style architecture with courtyards and terraces.
Tenants include medical and office users.
Numerous walkable amenities near The Grove and Beverly Center.
Medical office - Prime Miracle Mile location, 22,568 SF, 100% occupied.
Where is this medical office located?
The property is located at 955 Carrillo Dr Los Angeles, CA.
What is the asking price?
The asking price for this property is $14,500,000.
What are key features of this property?
This property features: Highly desirable boutique medical office building in West Hollywood's Miracle Mile.; Built in 1990.; Mediterranean Garden-style architecture with courtyards and terraces.
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955 Carrillo Dr Los Angeles, CA 90048
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955 Carrillo Dr Los Angeles, CA 90048
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Realmo Value Estimation
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
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Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
955 Carrillo Dr Los Angeles, CA 90048
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955 Carrillo Dr, Los Angeles, CA
Daniel Chiprut
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955 Carrillo Dr, Los Angeles, CA
Daniel Chiprut
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955 Carrillo Dr, Los Angeles, CA
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955 Carrillo Dr, Los Angeles, CA
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955 Carrillo Dr, Los Angeles, CA
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to 955 Carrillo Dr Los Angeles, CA 90048
955 Carrillo Dr, Los Angeles, CA
Daniel Chiprut
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