299 W Foothill Blvd - Medical FOR SALE


Upland, CA 91786
$8,880,000 USD
714-349-3547
299 W Foothill Blvd, Upland, CA for Sale
$8,880,000 USD
Medical - FOR SALE
1/32
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299 W Foothill Blvd
Upland, CA 91786


HIGHLIGHTS

  • 36,870 SF Medical/Professional Office Investment; 95% Occupied Investment w/ Additional Cell Tower Income
  • Almost 50% of Building Leased to 4 Medical Tenants (2 Publicly Traded) w/ Average Tenure of 21 years
  • Staggered Lease Expirations Provides for Stable Income; Well Priced Below Replacement Cost at $221/SF
  • Dynamic Location within Iconic Route 66 Retail Corridor on Foothill Boulevard - Over 54,000 Vehicle Trips Daily
  • Dense Area w/ Over 380,000 Population and Over $115K Average HH Income within 5 Mile Radius
  • 1.5 Mile from San Antonio Regional Hospital - 370,000 SF Acute-Care w/ 363 Licensed Beds

OVERVIEW

NAI Capital, as exclusive advisors to ownership, is proud to present for sale the Magnolia Centre. This is a 95% occupied multi-tenant medical and professional office investment opportunity located in the city of Upland within the iconic Route 66. The 1987 construction building is approximately 36,870 square feet and is situated on a 2.16-acre parcel. The lot offers ample parking including surface and covered parking at a ratio of 4.6 per 1,000. The two-story building is elevator served and well maintained. This asset consists of 12 tenants, 2 cell towers and 1 move-in ready vacancy of 1,564 square feet. Half of the occupied spaces are leased to medical uses who have been operating in the building between 10 years to 27 years. The tenancy is ideal for an investor looking for a secure investment with dependable cashflow. The Magnolia Centre is located on the Route 66 retail corridor along Foothill Boulevard just south of the 210 Freeway and north of the 10 Freeway. This 4-mile stretch is a dynamic area offering a mix of commercial, retail, and residential, making it an attractive investment opportunity. Major anchor tenants include: Vons, Sprouts, Stater Bros, Amazon Fresh, Walmart Bolero, 24 Hour Fitness, Burlington, Ross, Lowe's and more. This investment is just 1.5 miles from the San Antonio Regional Hospital ("SARH"). As a full service acute medical center, SARH offers over 370,000 SF of facilities and 363 licensed beds. Founded in 1907, SARH offers a comprehensive range of general medical and surgical services, along with cardiac care, cancer care, orthopedics, neurosciences, women’s health, maternity and neonatal care, and emergency services. SARH also owns several satellite facilities throughout the surrounding community including Rancho San Antonio Medical Plaza in the city of Rancho Cucamonga, Sierra San Antonio Medical Plaza in the city of Fontana, and Eastvale San Antonio Medical Plaza in the city of Eastvale, effectively giving them a regional monopoly https://www.sarh.org/

FOR SALE DETAILS

PRICE

$8,880,000 USD

PRICE/SF

$241 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Magnolia Centre

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

170

LAND DETAILS

LAND ACRES

2.17 AC

LAND SF

94,525 SF

ZONING

C/R-MU, Upland

APN/PARCEL ID

1045-571-44

ASK ABOUT THIS PROPERTY

Steve LiuNAI CapitalMore Info
714-349-3547

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Steve LiuNAI CapitalMore Info
714-349-3547

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