Listed by Economos Dewolf
$8,772,000
3620 Birch Street
Details
Property Type Office
Sub Type Medical Office
Square Footage 12,381
Cap Rate 4.02%
NOI $353,006
Occupancy 100%
Tenancy Multi
Lease Type Gross
Price per SqFt $709
Class A
Year Built 1990
Stories 2
Acreage 0.790
Parking Spaces 11 spaces
Parking per 1,000 SqFt 0.89
Office | 4.02% CAP | 12,381 SqFt
Marketing description
3620 Birch Street, Newport Beach, California 92660 Two-story, freestanding medical office building built in 1990 with an elevator and incredible street presence.
Investment highlights
- Freestanding, multi-tenant medical office building located in the immediate vicinity of John Wayne Airport, the 73, 55, and 405 freeways.
- In 2024, ownership went through a medical conversion process and the city approved for 96% medical. The leftover 482-SF must remain professional office space.
- High-image interior buildout with modern and creative finishes.
- Extremely rare opportunity to purchase a Newport Beach freestanding medical office building.
- Located near the UCI Health Center in Irvine, a 1.2 million square foot state of the art medical campus.
- Newport Beach boasts the highest median home price in Orange County, with Zillow reporting it at over $3.4M.
- John Wayne Airport, located just blocks away, is planned to go through a $1B renovation in the next 5-7 years.
- According to the OCBJ, the airport area of Newport Beach, all within a few blocks of 3620 Birch Street, could see upwards of 2,577 new housing units in the coming years.
- Priced to sell, this offering is an attractive value compared to the sale comps on Page 15.
Listing Contacts
Listed by Economos Dewolf
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$353,006.00
$29,417.17/mo
Valuation Metrics
0
DSCR
4.02%
Cap Rate
4.02%
ROI
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