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8737 Beverly Blvd 28,080 SF 69% Leased Office Building West Hollywood, CA 90048 $19,500,000 ($694.44/SF) 3.31% Cap Rate
Investment Highlights
- Medical Office directly across from Cedars-Sinai
- Trophy property first time on the market in 27 years
- Upside in tenanting vacant spaces
- Walker's Paradise - 93 Walk Score
- Blue-Chip Tenant Base
Executive Summary
Rare "Trophy" Acquisition Opportunity
Generational Ownership: This prime medical office asset is being offered for the first time in 27 years, representing a rare opportunity to acquire a staple of the West Hollywood medical corridor.
Irreplaceable Location: Situated at the heart of the Beverly Grove/West Hollywood medical district with an exceptional Walk Score of 93, described as a "Walker’s Paradise."
Direct Hospital Synergy: Located in the immediate "mission-critical" orbit of Cedars-Sinai Medical Center, providing an unparalleled location for top-tier medical practices and rounding physicians.
Exceptional Tenant Credit & Stability
Institutional Anchors: The building features a prestigious tenant mix, including Cedars-Sinai Medical Care Foundation (jointly and severally liable on Suite 302-303) and high-volume practices like Synergy Hematology-Oncology.
Recent Long-Term Commitments: High-value anchor tenants have recently signed extensions, securing significant building footprints through 2030 and 2031.
Remeasured Footprint: The property was recently remeasured to a confirmed 26,353 rentable square feet, maximizing the base for rent and CAM recoveries.
Significant Upside & Stabilization Potential
Immediate Lease-Up Opportunity: Approximately 31% of the building is currently vacant, providing a massive value-add opportunity to stabilize the asset with medical users at current market-leading rates.
Modernized Base Year: Recent renewals have established a 2026 Base Year for key tenants (Fleshner and Synergy), providing a clean, updated baseline for future Operating Expense recoveries.
Revenue Enhancement: Opportunity to convert the remaining Gross Lease (Suite 301) to a metered utility structure, as currently permitted under the lease terms, to eliminate Landlord utility risk.
Superior Parking & Ancillary Income
Robust Income Floor: The property includes a lucrative contract with Curbstand, Inc., providing a secure $120,000 annual net income floor ($10,000/month) specifically for parking operations.
Reserved Utility: Tenants enjoy the right to lease unreserved and reserved spaces, a critical and scarce amenity in the highly congested West Hollywood submarket.
De-Risked Operating Structure
Direct Utility Pass-Throughs: The building is primarily metered so that medical tenants pay for their high-intensity electricity and supplemental HVAC power directly to utility providers, shielding the owner from rising energy costs.
Strategic OpEx Buffers: Conservative pro-forma assumptions include robust OpEx increase buffers, ensuring the asset remains a high-performance vehicle even under rigorous municipal property tax assessments.
Generational Ownership: This prime medical office asset is being offered for the first time in 27 years, representing a rare opportunity to acquire a staple of the West Hollywood medical corridor.
Irreplaceable Location: Situated at the heart of the Beverly Grove/West Hollywood medical district with an exceptional Walk Score of 93, described as a "Walker’s Paradise."
Direct Hospital Synergy: Located in the immediate "mission-critical" orbit of Cedars-Sinai Medical Center, providing an unparalleled location for top-tier medical practices and rounding physicians.
Exceptional Tenant Credit & Stability
Institutional Anchors: The building features a prestigious tenant mix, including Cedars-Sinai Medical Care Foundation (jointly and severally liable on Suite 302-303) and high-volume practices like Synergy Hematology-Oncology.
Recent Long-Term Commitments: High-value anchor tenants have recently signed extensions, securing significant building footprints through 2030 and 2031.
Remeasured Footprint: The property was recently remeasured to a confirmed 26,353 rentable square feet, maximizing the base for rent and CAM recoveries.
Significant Upside & Stabilization Potential
Immediate Lease-Up Opportunity: Approximately 31% of the building is currently vacant, providing a massive value-add opportunity to stabilize the asset with medical users at current market-leading rates.
Modernized Base Year: Recent renewals have established a 2026 Base Year for key tenants (Fleshner and Synergy), providing a clean, updated baseline for future Operating Expense recoveries.
Revenue Enhancement: Opportunity to convert the remaining Gross Lease (Suite 301) to a metered utility structure, as currently permitted under the lease terms, to eliminate Landlord utility risk.
Superior Parking & Ancillary Income
Robust Income Floor: The property includes a lucrative contract with Curbstand, Inc., providing a secure $120,000 annual net income floor ($10,000/month) specifically for parking operations.
Reserved Utility: Tenants enjoy the right to lease unreserved and reserved spaces, a critical and scarce amenity in the highly congested West Hollywood submarket.
De-Risked Operating Structure
Direct Utility Pass-Throughs: The building is primarily metered so that medical tenants pay for their high-intensity electricity and supplemental HVAC power directly to utility providers, shielding the owner from rising energy costs.
Strategic OpEx Buffers: Conservative pro-forma assumptions include robust OpEx increase buffers, ensuring the asset remains a high-performance vehicle even under rigorous municipal property tax assessments.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
28,080 SF
Building Class
B
Year Built
1980
Price
$19,500,000
Price Per SF
$694.44
Cap Rate
3.31%
NOI
$645,679
Percent Leased
69%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
7,020 SF
Building FAR
1.15
Lot Size
0.56 AC
Zoning
WDC2A
Parking
115 Spaces (4.1 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Fenced Lot
- Signage
- Wheelchair Accessible
- On-Site Security Staff
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Phillip R Fleshner, MD
- Health Care and Social Assistance
- -
- -
-
Jan 0000
Phillip R Fleshner, MD operates a medical practice established in 2021 in California. The practice focuses on colorectal surgery and inflammatory bowel disease treatment. The physician has contributed over 100 peer-reviewed publications about surgical techniques and patient outcomes. The practice holds multiple academic positions, including Clinical Professor of Surgery at UCLA. The medical practice provides both clinical care and participates in colorectal surgery research initiatives.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Phillip R Fleshner, MD | Health Care and Social Assistance | - | - | Jan 0000 |
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4336-001-036 | Improvements Assessment | $8,354,436 |
| Land Assessment | $3,135,454 | Total Assessment | $11,489,890 |
Property Taxes
Parcel Number
4336-001-036
Land Assessment
$3,135,454
Improvements Assessment
$8,354,436
Total Assessment
$11,489,890
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8737 Beverly Blvd
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