Medical Credit Tenant | Financing Available | 8.5% Cap
Medical Office-A credit rated tenant-6 years NNN- Fort Bragg-CA
Marketing description
Marcus and Millichap is pleased to exclusively present The Adventist Health Mendocino Coast Medical
Office, located at 721 River Drive, Fort Bragg, California. The subject property consists of a
12,147-square-foot medical office building, which is situated on a 0.98-acre parcel, and was
constructed in 2005. Offers 64 parking spaces which include ADA, individual PG&Esmart meters, fire
sprinkler system, security control systems and fire alarm systems.
Adventist Health occupies 100 percent of the space, which is separated into suites A, B, and C.
Services offered at this location include: Minor Surgeries, Internal Medicine, Women's Health, and
Ophthalmology, among others. Tenants operate under a triple-net lease structure with a CPI (2%-5%)
increase every two years. Adventist Health has an S&P credit rating of A-. Landlord is responsible
for paying taxes, insurance, and management fee which are all reimbursed by tenant. Tenant is
responsible for all operating expenses, repairs and maintenance and pays directly. There are four,
five-year renewal options remaining.
Adventist Health in Fort Bragg, California, is part of the Adventist Health system, which is a
faith-based, nonprofit healthcare organization operating across the western United States.
Adventist Health in Fort Bragg specifically serves the local community in Mendocino County,
providing a variety of healthcare services.
Conveniently situated, the subject property neighbors The Adventist Health Mendocino Coast
Hospital, a twenty-five-bed critical access hospital nestled in Fort Bragg, renowned for its
extensive service to coastal community members. Originating from a grassroots movement to establish
a hospital district, Mendocino Coast District Hospital was inaugurated on June 26, 1971. Fast
forward to July 2020, Mendocino Coast District Hospital became part of the esteemed Adventist
Health network.
Investment highlights
The triple net (NNN) lease is a lease agreement structure where the tenant pays all of the operating expenses for the property. Therefore, they handle building insurance, property insurance, and real estate taxes on top of paying rent.
• Attractive strong credit backed lease from Adventist Health A- S&P rating with CPI increases every 2 years.
• There are approximately 7+ years of lease term remaining on the intial term.
• Current configuration includes ADA access, exam rooms, doctor offices, nurses stations, large waiting rooms/reception area, ADA restrooms, employee break. Amenities are specific to individual suites.
• Conveniently located, the subject property sits adjacent to The Adventist Health Mendocino Coast Hospital
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?





