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Available For Sale - Office

48,688 SF | Show Pricing $

AVAILABILITY DETAILS

Size
48,688 SF
Price/SF
Show Pricing $
Listing ID
SA427508
Notes
Value-add investor or owner-user opportunity: Prime freestanding building the length of a football field totaling ±48,688 SF on ±3.5 acres of General or Professional office spaces off N First Street. Offers (33) economical office spaces leased to long-term tenants on modified gross lease forms with an average size of 1,456 SF per suite.



The value-add opportunity consists of leasing 54.23% of the project or (16) vacancies of 23,000 SF, addressing the under-market rent of the (6) MTM tenants and extending lease length over the next 6-12 months, and charging the customary"pass-through" expenses of Water, Sewer, Trash, and Gardening to eliminate these items from the Landlords ledger. Actual rents are $221,284.53/year plus upside potential. After leasing the vacancies, the realistic 6-12 month stabilized gross annual income is $474,638.13/year. Unique investment offering easy-to-rent office spaces within an under-built market offering a strong need for these type of spaces. After lease-up the deal offers a DCR of 3.11 with 30% down, 9% capitalization rate, and an 11.24% cash-on-cash return after stabilized.



Clean office spaces with fresh paint, newer tile flooring, and move-in ready spaces thanks to a recent interior overhaul! Excellent Owner/User with Passive Income, or Investment. Each unit has access to high speed Internet, is separately metered, has private restrooms, private entrances, and consists of demising walls (can be combined). Well maintained with newer asphalt slurry coat, maintained HVAC's, excellent roof, full exterior lit private parking (over 150 spaces), excellent existing corner signage, great visibility and easy access to CA-41 on/off ramps and CA-180 & CA-168 interchange.
Uses
Office

Other Availability in this Property

Space/Suite Square Feet Type Uses Asking Rent/Price
48,688 SF Lease Office $TBD chevron_right
Space/Suite
 
Square Feet
48,688 for lease
Uses
Office
Asking Rent/Price
$TBD

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