new for sale multi-tenant medical office building · 2020. 3. 27. · 7500 district boulevard,...
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CALL CENTER / BACK OFFICE / READY
FOR SALEMulti-Tenant Medical Office Building
DAVID A. WILLIAMS, SIOR Senior Vice President | Principal Central California DIR 661 631 3816 [email protected] License #00855489
COLLIERS INTERNATIONAL10000 Stockdale Highway, Suite 102Bakersfield, CA 93311661 631 3800www.colliers.com/bakersfield
3801 Union Ave, Bakersfield, CA 93305
JASON ALEXANDER Senior Vice President | Principal Central California DIR 661 631 3818 [email protected] License #01360995
CAMERON MAHONEY Senior Vice President | Principal Central California DIR 661 631 3814 [email protected] License #01937802
7500 District Boulevard, Bakersfield, CA
3801 Union Avenue is a free standing, multi-tenant, medical office building. The property is lo-cated on the west side of Union Avenue, between Columbus Street and 34th Street. The build-ing consists of three (3) individual suites with general medical office floor plans. The exterior of the building has been recently remodeled, HVAC units were recently replaced, and unit B was also recently remodeled for the existing tenant. Great opportunity for an investor, or an owner/user can occupy over half the building and obtain SBA Financing. Brand new building sign along with a new monument sign on Union Avenue.
BUILDING DETAILS > +/-3,642 SF Total
• Suite A: +/-1,225 SF• Suite B: +/-1,417 SF• Suite C: +/-1,000 SF
> Land Size: +/-22,215 SF
> Zoned C2 (Regional Commercial Zone), City of Bakersfield
> APN: 120-200-08
HIGHLIGHTS > Three (3) individual suites totaling +/-3,642 SF > General medical office floor plans with plumbing and sinks > Suite B is leased on a month to month basis for $1,000/mo. Tenant pay utilities and janitorial > Suites are separately metered for gas and electric > Abundant parking with 26 parking spaces on site. Ratio: +/-7.25/1,000 SF > Ideal for an owner/user or investor (See Pro-forma’s on next page) > Limited product of this type available on the market > Below replacement cost
$465,000 ($127.67/SF)SALE PRICE
FOR SALEMULTI-TENANT MEDICAL OFFICE BUILDINGPROPERTY INFORMATION 3801 Union Ave, Bakersfield, CA 93305
PURCHASE PRICE $465,000RENOVATION COSTS $50,000TOTAL INVESTMENT $515,000PROFORMA INCOME (1) $54,630VACANCY (2) $2,732OPERATING EXPENSES (3):
PROPERTY TAXES (4) $5,580
INSURANCE $1,750
UTILITIES $2,400LANDSCAPING MAINTENANCE $1,200
PEST CONTROL SERVICE $756R&M - GENERAL BUILDING $1,200
TOTAL EXPENSES $12,886NET OPERATING INCOME $39,013CAP RATE 7.58%PRICE PER SQUARE FOOT $127.68
(1) ASSUMES A RENTAL RATE OF $1.25/SF MODIFIED GROSS(2) 5% VACANCY FACTOR ADDED ON PRO-FORMA(3) OPERATING EXPENSES ESTIMATED AT APPROXIMATELY $0.30/SF PER MONTH(4) TAXES BASED ON 1.2% OF PURCHASE PRICE
INVESTMENT PRO-FORMASBA PRO-FORMA - OWNER’S HOLDING COST WITH EXISTING TENANTPURCHASE PRICE $465,000RENOVATION COSTS $50,000TOTAL INVESTMENT $515,000INITIAL INVESTMENT - 10% $51,500MORTGAGE $463,500ANNUAL DEBT SERVICE (1) $29,358ANNUAL EXPENSES (2) $12,886OWNERSHIP COSTS $42,244TENANT RENTAL INCOME (3) $12,000OWNER NET COST $30,244OWNER’S SUITE - REMAINING VACANCY 2,225 SF$/SF COST - ANNUAL $13.59$/SF COST - MONTHLY $1.13
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved.
(1) 4% AMORTIZED OVER 25 YRS - SBA(2) SEE NOTES (2) AND (3) FROM INVESTMENT PRO-FORMA(3) RENTAL INCOME FROMEXISTING TENANT IN SUITE B
7500 District Boulevard, Bakersfield, CA
FOR SALEMULTI-TENANT MEDICAL OFFICE BUILDINGPRO-FORMA
3801 Union Ave, Bakersfield, CA 93305
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved.
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2020. All rights reserved.
FOR SALEMULTI-TENANT MEDICAL OFFICE BUILDINGAERIAL
3801 Union Ave, Bakersfield, CA 93305
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