Medical Office

Located approximately 20 miles southeast of Downtown Los Angeles along the Orange County border, the City of Cerritos began as an unincorporated area known for strawberry farms and dairy operations. Over time, Cerritos transformed into a modern, master-planned city with a park-like setting and balanced development. Cerritos is a progressive and affluent community, home to a highly educated and ethnically diverse population. The city is strategically positioned in the geographical center of the Los Angeles–Orange County metropolitan area and is directly served by the 5, 605, and 91 Freeways, with convenient access to two additional major routes. This central location has helped establish Cerritos as one of Southern California’s premier commercial crossroads. The city features beautifully maintained neighborhoods, tree-lined streets, thoughtfully planned retail centers, extensive recreational facilities, and a world-class performing arts center—making it an attractive place to live and work. Cerritos’ economic activity is concentrated in five major districts: Los Cerritos Center, Cerritos Auto Square, Cerritos Towne Center, Plaza 183, and Cerritos Industrial Park. These areas support employment in light manufacturing, general office, commercial, retail, and automotive sales and services. The city is also home to more than 20 neighborhood shopping centers. Cerritos actively fosters a business-friendly environment and promotes itself as a welcoming location for film and television production.NAI Capital is pleased to offer exclusively for sale the fee-simple interest in this multi-tenant medical office building located in the city of Cerritos. The building is 10,500 SF and is situated on almost 1 acre. This is a well-maintained asset with recent new roof and parking lot resurface. This opportunity is 95% leased with half the tenants on month-to-month, offering a buyer a great value add investment. Lease up of the MTM tenants and vacancy to $2.75/SF and converting all leases to triple nets can result cap rate of 9.38%. An owner user can also qualify for an SBA loan by occupying at least 51% of the rentable space. The current MTM tenant (totaling contiguous 5,450 SF) plus a small 480 SF space offers a total 5,930 SF to occupy. The MTM tenants consist of 3 spaces all currently occupied by dental uses. Cerritos is a no/low property tax city. As a no/low property tax city, Cerritos businesses are not assessed any additional property taxes other than the Los Angeles County's property tax. There is no local property tax, no library tax, no utility tax and no business tax.