100% Leased Medical Office Investment
100% Leased Medical Office – Bakersfield, $825,000
Marketing description
Investors looking for a hands-off medical office should take a close look at this fully leased building on China Grade Loop in Bakersfield. Fully leased, two tenants, with five year lease contracts.
The building offers 4,388 square feet on an 8,712 square foot lot. The current owner has already made key upgrades, including some new windows, replaced several HVAC units, along with fresh flooring and paint in Suite B. These upgrades should reduce near-term maintenance costs for the next owner.
Tenants West Coast Eye Institute and Pinales Dental DDS both signed 5-year leases with 3% annual rent increases built in. One lease is NNN and the other is Modified Gross, giving the owner a blended expense structure. The seller may also consider owner financing for a qualified buyer.
The property is located in North Bakersfield near China Grade Loop, close to Starbucks, Dollar General, Autozone, and Chase Bank. The trade area supports a population of over 63,000 within 3 miles and more than 168,000 within 5 miles, giving both medical tenants a strong base of nearby patients.
Investment highlights
- Flexible Floor Plans: Customizable layouts tailored for medical practices and professional service providers.
- Proximity to Patients: Located close to residential areas ensuring convenience for both medical staff and patients.
- Recent Capital Improvements: Tenant-specific buildouts and upgrades have been made, reducing future capital expenditures. Multiple HVAC units replaced, Suite B recently had flooring replaced and new paint.
- Long-Term Leases with Escalations: Secure income streams with 5 year leases (one is NNN) and built-in annual rental escalations.
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