580 Menlo Dr
Rocklin, CA 95765
Bldg C · Property For Lease

Turton Commercial Real Estate is pleased to market for sale and for lease 580 Menlo Drive in Rocklin, a 15,362 square foot flex/office building located in the Stanford Business Park. The property is being offered for sale at $2,700,000 approximately $176 per square foot and for lease at $.95 per square foot, NNN. The Property is currently comprised of three separate office suites measuring 3,364 square feet, 4,202 square feet, and 7,810 square feet, respectively. The two largest suites are currently used as traditional office space and include a mix of conference rooms, private offices, and open space for cubicles. The smallest of the three office suites (3,364 SF) is a state-of-the-art conferencing center with two large board rooms, an open breakroom/catering area, and restroom cores. As such, an owner-user could occupy any combination of the three suites and lease the remaining space to a third-party tenant for additional income. While the building is currently used as office space, any portion of the building could be converted to conditioned warehouse or “flex” space in the future. The Building currently features a small warehouse area (about 500 SF in Suite 8) and 6 roll-up doors behind the building, with the infrastructure to add two more roll-up doors to bring the total to 8. The entire building is currently leased to American Pacific Mortgage Inc., a top-10 Independent Mortgage Banker in the country with more than 1,700 licensed loan advisors and over 200 branches. APM’s lease expires on July 31, 2024, and they plan to vacate the entire building at that time. They are currently paying $24,579 per month through July 2023 at which point the rent increases to $25,347 per month through lease expiration. The lease structure is modified gross with the tenant paying electric and janitorial in addition to the base rent. Therefore, an owner-user can acquire the building, then benefit from the existing cash flow while planning the move or waiting for the lease at its existing location to expire.