|Price/Rent PSF||$ 1,072,000.00|
|SQ. FT. Available||6,019|
The City of Lynwood is approximately 4.9 miles and has approximately 70,000 residents. Lynwood is located in the southern part of the Los Angeles basin near South Gate, Downey and Paramount. The Subject Property’s location is located just one block north of the 105 Free-way and in close proximity to the 710 Freeway.
Up the street from the property is the Yvonne-Burke John D Ham Park which is a major community center that has recently been constructed with state of the art facilities and a great space for the neighborhood.
An additional advantage to purchasing this asset within this neighborhood is that according the Health Resource & Services Administration, which is a subsidiary of the U.S. Department of Health & Human Services Department, this location falls under a “Medically Underserved Area” for both Primary Care and general Medical care. The reason this is significant is that medical professionals who start their practices here can gain a premium in payments from Medicare and other government vendors (buyer to verify) for providing care to an otherwise underserved area.
The Subject Property is an approximately 6,019 square feet two-unit medical office facility with nearly 80% of the space being occupied by BAART Programs, a nationally recognized opiate treatment facility. The property is located on a tree lined retail corridor within the city of Lynwood; the building is in close proximity to the 105 & 710 interchange. This property is uniquely positioned in that it is located in a “Primary Healthcare Shortage Area” as defined by U.S. Department of Health and Human Services, and it is grandfathered for medical usage.
A buyer of this property will be advantageously positioned to take advantage of this supply shortage as nearly all of the properties within this corridor do not have the parking requirement to allow medical usage. While the Subject Property has no on-site parking the grandfather usage has prevailed and the tenant has executed their lease term, tenant improvements and will soon occupy the space.
The tenant, BAART Programs, a brand of BayMark Health Services, is a multi-state, multi-service organization providing opioid use disorder treatment and rehabilitation for patients across the county. BAART has 26 clinics providing exemplary health care service for this ever increasing need.
The building comes with an additional unit that is approximately 1,150 square feet and is currently being used as a chiropractic clinic, with running water and sinks in each exam room making it ideal for a medical or dental use conversion. The Chiropractic office currently occupying the 1,150 square foot suite is affiliated with the ownership of the building and plans to vacate the unit at the close of escrow.
This offering serves an ever increasing need in the community while providing above market rate of return, plus a turn-key medical unit available for immediate occupancy.