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29550800
29550802

509 Bush St, Woodland, CA 95695

RC
CA CA 00821385
Caceres Real Estate
Listed by Caceres Real Estate
$6,250,000
120 days on market
Updated 22 days ago

MEIER BUILDING

Details
APN 006-561-021
Property Type Office
Sub Type Mixed use medical office
Square Footage 22,005
Net Rentable (SqFt) 22,005
Cap Rate 6.44%
NOI $402,500
Occupancy 95%
Tenancy Multi
Lease Type Modified
Rent Bumps Yes
Pro-Forma Cap Rate 6.44%
Pro-Forma NOI $402,500
Price per SqFt $284
Broker Co-Op Yes
Class B
Year Built 1921
Year Renovated 2017
Buildings 1
Stories 1
Lot Size (SqFt) 22,005
Zoning DMX
Investment Type Stabilized
Ground Lease No
Ownership LLC
Sale Condition 1031 exchange

Office | 6.44% CAP | 22,005 SqFt

Marketing description

The subject property is an approximately 22,000 SF mixed-use office and retail property ,originally built as an auto dealership in 1921. This concrete and steel building has been extensively remodeled in 2016-17 to include new, state-of-the-art energy efficient heating and air, new roof, all new plumbing and new electrical systems. The building is unquestionably one of the finest office buildings in Woodland and was awarded a Historic Preservation award in 2018 by the City of Woodland.

The property is located ½ block from Main Street at the intersection of College Street and Bush Street. Easy walking distance to restaurants and shops. Current tenants include WSR Insurance Company, Portalupi Orthodontics, NorCal Performance Physical Therapy, Nick Sadek/Homestead360 Real Estate Services, Valley Vision Optometry, AC Photography and Earthbound Ceramics.

Currently, there is approximately 1,038 rentable square feet available for lease to an owner-user, or new tenant and significant upside if converting storage spaces to rentable square footage.

Investment highlights

EASY TO MANAGE

COMPLETELY RENOVATED DURING 2016-17

½ BLOCK FROM MAIN STREET

PUBLIC PARKING LOT ACROSS THE STREET

95% LEASED TO A DIVERSIFIED AND INTERNET PROOF TENANT BASE

GREAT 1031 TAX-DEFERRED EXCHANGE PROPERTY

UPSIDE VIA CONVERTING STORAGE TO RENTAL SPACES

Listing Contacts

RC
CA CA 00821385
Caceres Real Estate
Listed by Caceres Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$402,500.00
$33,541.67/mo

Valuation Metrics

0
DSCR
6.44%
Cap Rate
6.44%
ROI

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Additional Information

Name
Ron Caceres
License
CA 00821385
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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