Historical Office Sale Listing - Public Defenders Office and Ca Dept of Corrections

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Public Defenders Office and Ca Dept of Corrections

765 Third Avenue, Chula Vista, CA 91910

N/A

42,290 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
42,290 SF
Property Type:
Office
Property Sub-type:
Institutional/ Governmental
Additional Sub-types:
Medical Office
Restaurant
Property Use Type:
Investment
Cap Rate:
7.78%
Occupancy:
100%
Building Class:
B
Tenancy:
Multiple
Lot Size:
1.22 AC
Listing ID
17334308
Last Updated
over 1 year ago

Description

Marcus & Millichap is pleased to present the San Diego Public Defenders Office and the State of California Department of Corrections Office. The property was originally built in 1990 to house both the government tenants that work hand-in-hand with eachother to serve seven San Diego cities. Both tenants have consistently renewed their leases for the last 22 years and have recently just renewed within the last 12 months. The entire property is built to ADA and stingent government standars and also houses a million dollars worth of proprietary computer equipment for the state. Priced at $11,400,000 the property offers an investor almost double digit returns with the safety of government credit, highly improved real estate in a very strategic location. In addition, their is currently an assumable loan in the amount of $6,328,000 at 6.25% interest.

The property is strategically located on Third Avenue., the major commerical corridor running through Chula Vista. The property is also very close in proximity to the courthouse and which caters to the public defenders office.

Map of 765 Third Avenue, Chula Vista, CA 91910 (San Diego County)

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