Montclair Office Medical Bldg
5.30% CAP Medical Office Investment
Marketing description
Montclair Medical Building with renovations completed early 2017. This building has 23 individual office condos that are approved for professional and medical use. Substantial upgrades to the interior of the building have been made including new modern restrooms, designer lighting, and contemporary flooring. The exterior received a facelift with a brand new entrance, paint, landscaping, new parking lot, and more. The building is situated in a medical plaza which includes the Montclair Hospital Medical Center (102 beds), Community Extended Care Hospital, and Montclair Royale (an assisted living center). Easy access to Interstate 10, close proximity to retail and restaurant outlets, and minutes to Montclair Plaza.
Suite 216 is approximately 1,469 square feet, this unit has a large waiting room, receptionist area, 3 doctor exam rooms, 2 private offices, a nurse station, 2 separate entrances, a private restroom, and 2 storage rooms. The waiting room and receptionist area was recently remodeled to meet ADA requirements along with new marble countertops.
Investment highlights
Currently being rented by a pediatrician doctor who's been there for over 7 years. An OBGYN doctor is sharing the space as well. Current rent is $3406 per month with HOA and property tax at around $835 per month. This brings the net cash-in-flow around $2571 per month. New 3-year lease was signed on 1/1/24.
Seller is willing to accept half or full purchase price in RMB.
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