Available For Sale - Office

6,160 SF | Show Pricing $

AVAILABILITY DETAILS

Size
6,160 SF
Price/SF
Show Pricing $
Listing ID
SA380914
Notes
Value-add investor or owner-user opportunity: (2) Freestanding buildings totaling ±6,160 SF office investment on ±0.523 Acres (±22,800 SF) of General, Professional, and/or Medical space off Mooney Blvd on Fairway Street. Offers (8) economical separate spaces leased to long-term tenants on Gross lease forms with an average size of 750 SF per unit. Value-add opportunity with actual rents of $72,740.70/year collected plus upside potential. After leasing the (2) vacancies (610 SF and 750 SF) and extending leases, the realistic 6-12 month stabilized gross annual income is $84,456 (16.1% upside). Unique investment offering easy-to-rent small office spaces within an under-built market offering a strong need for these type of spaces. Once stabilized, the deal offers a 10.03% cash-on-cash return when leveraged with 30% down, which produces a 1.61 Debt Coverage Ratio!



The value-add opportunity consists of leasing (2) vacancy of 610 and 750 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. West #A vacancy has 2 large offices plus a reception area ready to move-in; East #E (former salon) vacancy is new hardwood floor, fresh paint, reception/open area, huge open bullpen area.



Multiple configurations ranging from 610 SF up to 950 SF with the ability to combine spaces to create larger units. Clean office spaces with fresh paint, newer flooring, and move-in ready spaces! 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). Brand new asphalt slurry coat, HVAC's and foam roof are less than 10 years old, full exterior lit private parking (24 spaces plus street), excellent existing corner signage, great visibility and easy access to CA-198 and CA-99 on/off ramps.
Uses
Office

Other Availability in this Property

Space/Suite Square Feet Type Uses Asking Rent/Price
6,160 SF Lease Office $TBD chevron_right
Space/Suite
 
Square Feet
6,160 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