RB Medical Plaza Unit 2
Office | 6.00% CAP | 2,369 SqFt
Marketing description
RB Medical Plaza offers a premier Rancho Bernardo location with excellent visibility and accessibility along Interstate 15. The Property combines professional design, modernized common areas, and enhanced building systems to deliver a high-quality environment for healthcare and professional tenants. With its ongoing capital improvements—including exterior upgrades, refreshed entries, and efficient infrastructure—RB Medical Plaza provides a contemporary, patient-friendly setting designed to support today's medical practices and long-term tenant success.
Colliers International ("Colliers") has been retained on an exclusive basis to sell RB Medical Plaza, the premier medical office condominium project in Rancho Bernardo, CA (the "Property"). A prominently located medical office building, the Property is currently in the process of being condo mapped, with impending capital improvements planned, and occupied by a diverse mix of healthcare and professional services tenants (the "Tenant").
The ±78,872 SF Property is situated on ±3.05 acres in the Rancho Bernardo submarket. Built in 1984 and recently upgraded, the four-story building features steel-frame construction, two elevators, a landscaped central courtyard, above standard parking, and upgraded common areas and restrooms. With its freeway-fronting visibility along Interstate 15 and amenity-rich design, RB Medical Plaza represents a premier medical office opportunity with both stable in-place tenancy and significant lease-up potential.
Rancho Bernardo serves as the gateway to both North and Central San Diego, offering a premier location for healthcare growth. The submarket is home to strong healthcare demographics and anchored by leading health systems, creating a highly cohesive, all-healthcare environment. With established health systems expanding across North County and increasing demand for outpatient medical space, this market presents a rare opportunity for a healthcare practice to grow, thrive, and position itself alongside some of the region's most prominent providers.
Investment highlights
- Unit 2 - 2,369 SF Medical Office Condo
- Tenant: Corbin Smith, DDS dba North Hills Pediatric Dentistry
- Lease Expiration: 8/31/2033
- 100% Leased
- NOI: $89,548.20
- Purchase Price: $1,492,470.00 ($630/SF)
- Cap Rate: 6.00%
- Market Condo Rate - $1,480,625 ($625/SF)
- Dental Improvements - $533,025 ($225/SF)
- Total Combined Value - $2,013,650 ($850/SF)
- Institutional Quality Renovations & Enhancements: Ownership at RB Medical Plaza is executing a targeted capital improvement program designed to elevate the Property's appearance, functionality, and tenant experience.
- Modernized Common Areas & Building Systems: Interior renovations will modernize the remaining restroom cores and common corridors, creating a consistent and contemporary aesthetic throughout.
- Refreshed Entry & Tenant Experience: The main entry will feature new aluminum and glass doors, while tenant suite entrances will be refreshed to create a polished, modern arrival experience.
- Ownership Commitment to Long-Term Value: Through these enhancements, ownership is demonstrating a long-term commitment to maintaining RB Medical Plaza as one of Rancho Bernardo's premier medical and professional environments.
- Freeway-fronting visibility along Interstate 15
- Steel-frame construction, tile roof
- Two elevators, landscaped central courtyard, above standard parking
- 5.8/1,000 SF parking ratio
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