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Available For Sale - Office

3,264 SF | Show Pricing $

AVAILABILITY DETAILS

Size
3,264 SF
Price/SF
Show Pricing $
Listing ID
SA380831
Notes
100% Leased Investment Opportunity: ±3,264 SF freestanding building on ±0.26 Acres (±11,514 SF) of General, Professional, and/or Medical space off Blackstone on Shields Ave. Offers (5) economical separately metered spaces leased to long-term tenants on AIR lease forms. Value-add opportunity with actual rents of $34,974.31/year collected plus upside through rent increases. After Suite #A and #B’s under-market rates are addressed and the built-in rental increases are experienced, the realistic 12-18 month stabilized gross annual income is $40,260 (15.12% upside). Unique investment offering easy-to-rent small office spaces within an under-built market (replacement value of $546K) with a strong need for these type of spaces. Once stabilized, the deal offers a 11.75% cash-on-cash return when leveraged with 30% down (1.76 DCR).



Features a functional floor plan that each tenant has made substantial tenant improvements to. Multiple configurations ranging from 493 SF up to 816 SF with the ability to combine spaces to create larger units. Clean office spaces with fresh paint, new hard-surface flooring, and move-in ready spaces! Each unit has access to high speed Internet, separate meters, access to clean restrooms, private entrances (w/ secured entry gate), 20+ outdoor LED lights during the night hours, and consists of demising walls (can be combined). Brand new asphalt slurry coat, HVAC's and roof are less than 10 years old, full LED exterior lit private parking (plus street), excellent corner signage, great visibility and easy access to CA-41 and CA-99 on/off ramps.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Jared Ennis, Central CA Commercial
BRE# 01945284