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2010 E Valley Pky 20,100 SF Retail Building Escondido, CA 92027 $9,850,000 ($490.05/SF) 4.76% Cap Rate
INVESTMENT HIGHLIGHTS
- Single Tenant Absolute NNN Lease: VA Hospital backed by strong Healthcare Operator
- Zero Landlord Responsibilities: Tenant responsible for all aspects of the project
- Favorable Lease Terms: 11 year lease with Three Percent (3%) Annual Increases and Built-in Management Fee
EXECUTIVE SUMMARY
Retail Insite is pleased to present to investors an opportunity to acquire a freestanding retail/medical building leased on an Absolute NNN basis to Sterling Medical Associates, Inc. (Sterling), a successful healthcare services provider that was awarded the governmental contract to build and operate a VA Hospital on site. Signing a brand new 11 year lease, Sterling has expended substantial capital into the project, transforming the building into a first-class medical hospital. In addition to the Base Term, Sterling has two (2) 11-year Options to Renew.
As an Absolute NNN Lease, this investment affords an investor zero Landlord Responsibilities while providing ease of ownership and stable cash flow. Showcasing the tenant’s desire for this location, they’ve agreed to annual increases of three percent (3%), enabling compounding rental growth and yield throughout ownership of the asset.
Located at 2010 E Valley Parkway along the main commercial arterial in Escondido, California, the site boasts excellent visibility along the corridor and full ingress and egress to the signalized intersection. Situated amongst dense residential neighborhoods and daily needs retail projects, the VA Hospital is well-positioned to service the greater Escondido community. As a submarket in North San Diego County, Escondido boasts the 4th largest population at 155,000 residents and is located within close proximity to both Interstate 15 and Highway 78
As an Absolute NNN Lease, this investment affords an investor zero Landlord Responsibilities while providing ease of ownership and stable cash flow. Showcasing the tenant’s desire for this location, they’ve agreed to annual increases of three percent (3%), enabling compounding rental growth and yield throughout ownership of the asset.
Located at 2010 E Valley Parkway along the main commercial arterial in Escondido, California, the site boasts excellent visibility along the corridor and full ingress and egress to the signalized intersection. Situated amongst dense residential neighborhoods and daily needs retail projects, the VA Hospital is well-positioned to service the greater Escondido community. As a submarket in North San Diego County, Escondido boasts the 4th largest population at 155,000 residents and is located within close proximity to both Interstate 15 and Highway 78
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,100 SF
Building Class
C
Year Built
1971
Price
$9,850,000
Price Per SF
$490.05
Cap Rate
4.76%
NOI
$468,414
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
1.40 AC
Zoning
C-6 - General Commercial
Parking
75 Spaces (3.73 Spaces per 1,000 SF Leased)
Frontage
112’ on E Valley Pky
AMENITIES
- Signage
- Signalized Intersection
- Monument Signage
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 231-021-45 | Improvements Assessment | $1,500,000 |
| Land Assessment | $1,700,000 | Total Assessment | $3,200,000 |
PROPERTY TAXES
Parcel Number
231-021-45
Land Assessment
$1,700,000
Improvements Assessment
$1,500,000
Total Assessment
$3,200,000
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