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27887273

1534 E Florence Ave, Los Angeles, CA 90001

AS
CA CA 01238374
Matthews
KB
CA 02168242
Matthews
Listed by Matthews
$3,700,000
218 days on market
Updated 1 day ago
Opportunity zone

Former Rite Aid

Details
Property Type Mixed Use, Retail
Sub Type Pharmacy/Drug
Square Footage 17,920
Brand/Tenant Walgreens, CVS Pharmacy (+3)
Price per SqFt $206
Year Built 1981
Lot Size (SqFt) 70,046

Former Rite Aid

Marketing description

Investment highlights

● Prime Repositioning Opportunity – Freestanding former large-box retail asset located in a transitional South Los Angeles corridor presents significant repositioning potential, including redevelopment for higher-density residential or alternative commercial uses, supported by strong street frontage and visibility.

● Positioned Within Florence-Firestone TOD Specific Plan (MU-2) – Located in unincorporated Los Angeles County and subject to Florence-Firestone Transit Oriented District (TOD) Specific Plan. Buyer to verify all permitted uses and development standards with LA County Planning.

● Scale Supports Meaningful Unit Count– Large site allows for efficient site planning and density. Potential for mid scale multifamily or mixed-use project. Strong candidate for developers seeking infill LA County opportunities.

● Adaptive Reuse Flexibility & Market Repositioning – Former big-box configuration offers a large, open floor plan with ample surface parking and strong visibility, suitable for a range of repositioning strategies including last-mile logistics, grocery or pharmacy tenancy, entertainment or fitness use, or vertical mixed-use residential redevelopment with ground-floor retail.

● Supply-Constrained Urban Infill Asset – South Los Angeles continues to experience sustained housing demand, while large-parcel, transit-adjacent opportunities remain limited. The site’s existing scale and vacancy offer a timing advantage in securing entitlements ahead of further competitive redevelopment.

● Neighborhood Revitalization Tailwinds – The South Los Angeles submarket is undergoing sustained transformation, bolstered by public investment in transit infrastructure and housing, making the property well-positioned to capitalize on ongoing revitalization trends.

Listing Contacts

AS
CA CA 01238374
Matthews
KB
CA 02168242
Matthews
Listed by Matthews

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Additional Information

Name
David Harrington
License
01320460, 02168060 (CA)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
Name
Andy Sabherwal
License
CA 01238374
Brokerage
Matthews
Title
Associate Vice President
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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