This is the 5662nd most frequent Russian word.
прекрасное
"Прекрасное" means "the beautiful" or "beauty."
In this sentence, 'прекрасное' functions as an adjective describing 'место' (place), emphasizing its admirable and lovely qualities.
Это прекрасное место для отдыха.
This is a wonderful place for relaxation.
Here, 'прекрасное' is used as a neuter noun representing the concept of beauty or the beautiful, something inspiring creative endeavors.
Прекрасное вдохновляет людей творить.
The beautiful inspires people to create.
In this example, 'прекрасное' is again a noun, referring abstractly to the presence of beauty in the surroundings.