3434 Midway Dr - Medical FOR SALE


San Diego, CA 92110- Midway District
$8,950,000 USD
818-852-9255
3434 Midway Dr, San Diego, CA for Sale
$8,950,000 USD
Medical - FOR SALE
1/18
null | 7.43% Cap Rate

3434 Midway Dr
San Diego, CA 92110
Midway District


HIGHLIGHTS

  • 7,928 SF Available to New Buyer
  • Partial Sale Leaseback / Seller Occupies 45% of the Building
  • 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
  • $1,000,000+ Recent Renovation
  • 70% 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 70% 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 owner-user or investment opportunity.

FOR SALE DETAILS

PRICE

$8,950,000 USD

PRICE/SF

$372 USD /SF

CAP RATE

7.43%

% 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

1991

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

CC-1-3

APN/PARCEL ID

441-650-22

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