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2813 S Main St
Corona, CA 92882
Corona Medical Arts Plaza · Office Property For Sale


EXECUTIVE SUMMARY
Cushman & Wakefield’s Healthcare Capital Markets Team is pleased to offer the opportunity to acquire 100% fee-simple interest in Corona Community Health Center (the “Property”), a single-tenant medical outpatient building with a rentable area of 45,204 square feet. The Property is 100% occupied by Riverside University Health System (RUHS) under a long-term lease with the County of Riverside (Moody’s: Aa2).
Constructed in 2018 as a build-to-suit for RUHS, the Property is part of a network of community health centers operated by RUHS throughout the Inland Empire providing a
variety of outpatient services to patients in the region. The lease provides term through 2038* with 2.75% annual rental escalations providing a growing and dependable income stream.
The Property features attractive assumable financing at relatively high leverage with a low fixed interest rate (details provided herein). Seller has also engaged C&W on the disposition of Jurupa Valley Community Health Center, a similar property providing an opportunity for a larger portfolio transaction. Please inquire with listing agent for details on the other property.
Constructed in 2018 as a build-to-suit for RUHS, the Property is part of a network of community health centers operated by RUHS throughout the Inland Empire providing a
variety of outpatient services to patients in the region. The lease provides term through 2038* with 2.75% annual rental escalations providing a growing and dependable income stream.
The Property features attractive assumable financing at relatively high leverage with a low fixed interest rate (details provided herein). Seller has also engaged C&W on the disposition of Jurupa Valley Community Health Center, a similar property providing an opportunity for a larger portfolio transaction. Please inquire with listing agent for details on the other property.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
45,204 SF
Building Class
B
Year Built
2018
Price
$29,000,000
Price Per SF
$641.54
Cap Rate
6.96%
NOI
$2,019,723
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
22,602 SF
Building FAR
0.53
Lot Size
1.96 AC
Zoning
R1
PROPERTY TAXES
| Parcel Number | 113-340-078 | Improvements Assessment | $10,720,068 |
| Land Assessment | $5,164,025 | Total Assessment | $15,884,093 |
PROPERTY TAXES
Parcel Number
113-340-078
Land Assessment
$5,164,025
Improvements Assessment
$10,720,068
Total Assessment
$15,884,093
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