Medical Office Condo For Sale
Medical Office Condo | 3,139sf
Marketing description
Great owner-user opportunity! 3,139sf medical office condo located on West 7th Street just east of the Keystone interchange; excellent visibility from Interstate 80; one mile northwest of Downtown Reno and half a mile west of the University of Nevada, Reno campus; sale price $1,165,000; 2nd floor unit in elevator-served building; monument signage available; Unit will be subject to monthly utility bill backs and association fees; estimates available upon request. Ample oversized windows in all perimeter offices provide abundant natural lighting. Two private restrooms in suite plus built-out kitchen/breakroom; additional common area restrooms available for use in interior hallway immediately outside of suite; many SBA and other low-interest financing options available for medical practice owner/users; Current users in building concentrated in dental specialties; building boasts lush landscaping, ample parking, and great curb appeal.
Investment highlights
Many medical and dental practitioners value the long-term stability, equity, and control that comes with owning their own space. Often, these users easily qualify for a variety of lending programs including 10% down SBA 7(a) and 504 loans. This ownership strategy reduces turnover risk, stabilizes and potentially reduces long-term overhead, and positions principals for long-term appreciation benefits in the resilient asset class of medical office space.
Comparative Economics of Lease vs Own
2nd Floor Unit 202, +/- 3,139 SF
Financing Breakdown – SBA Loan Terms
• Amortization of 25 Years
• Down Payment: 10%
• Purchase Price $1,165,000
• Amount Financed: $1,048,500
• Interest Rate: 6.5% (current market rate)
• Monthly Mortgage payment (net of addʼl lender fees)
would be $7,080
• Monthly lease payment at $2.50 NNN would be $7,560
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