3434 Midway Dr - Medical FOR SALE


San Diego, CA 92110- Midway District
$9,450,000 USD
818-852-9255
3434 Midway Dr, San Diego, CA for Sale
$9,450,000 USD
Medical - FOR SALE
1/18
null | 6.82% Cap Rate

3434 Midway Dr
San Diego, CA 92110
Midway District


HIGHLIGHTS

  • Long-Term Tenants / Stable Cash-Flow
  • High-Quality Investment Opportunity
  • Value-Add Location Adjacent to Pechanga Stadium
  • $2 Billion+ Redevelopment Project - 16,500 Seat Stadium / 4,250 Apartments / 130,000 SF Retail & Entertainment / 200+ Hotel Rooms
  • $600,000+ Recent Renovation
  • 96% Occupied / Core Tenant in Operation for 34 Years / 30+ Multistate Locations

OVERVIEW

434 Midway Drive is a 26,500 SF Medical Office Building (MOB) with a Medicare certified Ambulatory Surgery Center (ASC). The building is located in San Diego at the intersection of I-5 and I-8, two of the busiest highways in California, with a combined daily traffic of 330,000+ cars. It is situated adjacent to the Pechanga Arena, a leading sports and entertainment venue in California with $468 Million annual revenue and over 750,000 visitors. The surrounding area is undergoing a $2 Billion+ redevelopment that will bring an NBA and hockey team to the new 16,000-seat stadium, create a 130,000 SF shopping and entertainment center, build 4,250 new apartments and 200+ hotel rooms. The Property was recently renovated at the cost of $600,000+ and it is 96% occupied by long-term tenants. Core tenants include a multi-specialty surgery center and the largest privately held pain management group on the West Coast. It presents an ideal cash-flow investment opportunity with stable long-term returns.

FOR SALE DETAILS

PRICE

$9,450,000 USD

PRICE/SF

$393 USD /SF

CAP RATE

6.82%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Richley Medical Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

54

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

CC-1-3

APN/PARCEL ID

441-650-22

ASK ABOUT THIS PROPERTY

Steve BodyKW CommercialMore Info
818-852-9255

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

Steve BodyKW CommercialMore Info
818-852-9255

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