Listed by SRS Real Estate Partners San Diego
$4,004,000
Children’s Dental Clinic | 800+ Unit Operator
Details
APN 031-3-150-00-0 & 031-3-151-00-0
Property Type Office
Sub Type Medical Office
Square Footage 8,420
Cap Rate 6.75%
NOI $270,283
Tenancy Single
Brand/Tenant Center for Pediatric Dentistry
Lease Type NN
Lease Term 10
Lease Expiration 11/04/2035
Rent Bumps Yes
Lease Options 4 (5-Year)
Year Built 2003
Acreage 3.630
Zoning General Commercial
Parking Spaces 27 spaces
Parking per 1,000 SqFt 3.21
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/04/2020
Ownership Fee Simple (Land & Building Ownership)
Office | 6.75% CAP | 8,420 SqFt
Investment highlights
- 10 Years Remaining | Annual Rental Increases | Options to Extend | Guaranteed by MB2 Dental
- The tenant currently has 10 years remaining with 4 (5-year) options to extend, demonstrating their commitment to the site
- The lease features 2% annual rental increases throughout the initial term and options thereafter, steadily growing NOI and hedging against inflation
- The property is guaranteed by MB2 Dental
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Tenant pays for utilities, taxes, insurance and maintains most aspects of the premises
- Landlord responsibilities limited to roof and structure
- Ideal, low-management investment for a passive investor
- Along Augusta W Pkwy | Interstate 520 & 20 | Dense Retail Corridor
- The subject property is located along Augusta W Pkwy which averages 10,200 VPD
- The site benefits from nearby direct on/off ramp access to Interstate 20 & Interstate 520, two major thoroughfares that average a combined 177,300 vehicles passing by daily
- The asset is ideally located in a dense retail corridor, nearby national/credit tenants including Target, Old Navy, Hobby Lobby, Staples, Michael's, Taco Bell, Walgreens, Walmart Supercenter and many more
- The site is in close proximity to Doctors Hospital of Augusta (350 beds), The Laney Apartments (230 units), and Bradford Pointe Apartments (192 units)
- Strong Demographics in 5-Mile Trade Area
- More than 159,000 residents and 68,000 employees support the trade area
- $91,944 average household income
Listing Contacts
Listed by SRS Real Estate Partners San Diego
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$270,283.00
$22,523.58/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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