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1761 Broadway Street - Park Place Medical, Vallejo, CA

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1761 Broadway Street - Park Place Medical

Vallejo, CA 94589-2226 - Benicia/Vallejo Submarket

Property Type:Office Sub Type:Medical Status:Existing Year Built:1990
Stories:2 Typical Floor:29,877 SF Building Size:57,704 SF
For Sale Price:$12,950,000 Price/SF:$224.42
Cap Rate:-
Parking:Free Surface spaces are available; Free Covered spaces; Ratio of 4.16/1,000 SF Amenities:Atrium

The property features attractive landscaping. It is ideal for medical related businesses.

The building is located in a convenient central location close to shops, restaurants and banks. There is easy access to major Bay Area communities.

Sale Notes:
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License 01385740 (“HFF”), an exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Park Place Medical (the “Property”), a 57,704 rentable square foot medical office building plus a 4-acre adjacent land parcel, that may be acquired in addition to the current offering, with the ability to develop an additional ±60,000 square foot Class A medical building. Park Place Medical is strategically located less than a 0.5 mile walk from the 248-bed Kaiser Permanente Vallejo Medical Center in the rapidly expanding market of Vallejo, CA. The Property is 94.0% leased to 3 tenants with substantial credit tenancy in Kaiser Permanente (Fitch: A+) and overall average in-place rents 20.5% below market. Park Place Medical provides an investor with stable and dependable cash flow, as well as future income enhancement via below market rents in the midst of rapidly improving market fundamentals.

The Property is located in San Francisco' s North Bay along the major thoroughfare, North Broadway Street, with 18,479 Average Daily Traffic (ADT). Park Place Medical offers close proximity to two major medical centers including the 248-bed Kaiser Permanente Vallejo Medical Center, the city' s largest acute-care facility, within a 0.5 mile walk and the 102-bed Sutter Solano Medical Center, part of the greater Sutter Health System, within 1.5 miles of the Property.

Evan Kovac
(858) 812-2365

David Dokko
(415) 276-6300

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