2010 E Valley Pky - Freestanding FOR SALE


Escondido, CA 92027- Midway
$9,850,000 USD
858-324-6103
2010 E Valley Pky, Escondido, CA for Sale
$9,850,000 USD
Freestanding - FOR SALE
1/2
null | 4.76% Cap Rate

2010 E Valley Pky
Escondido, CA 92027
Midway


HIGHLIGHTS

  • Single Tenant Absolute NNN Lease: VA Hospital backed by strong Healthcare Operator
  • Favorable Lease Terms: 11 year lease with Three Percent (3%) Annual Increases and Built-in Management Fee
  • Zero Landlord Responsibilities: Tenant responsible for all aspects of the project

OVERVIEW

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

FOR SALE DETAILS

PRICE

$9,850,000 USD

PRICE/SF

$490 USD /SF

CAP RATE

4.76%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,984 SF

ZONING

C-6

APN/PARCEL ID

231-021-45

ASK ABOUT THIS PROPERTY

Brian PykeRetail InsiteMore Info
858-324-6103

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Brian PykeRetail InsiteMore Info
858-324-6103

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.