For Sale | St. Bernardine Medical Plaza

1850 N Riverside Ave, Rialto, CA

$8,200,000

Price

7.5%

Cap Rate

$614,693

NOI

Overview
Cap Rate
7.5%
NOI
$614,693
Cash-on-Cash
10.55%
Building Size
34,709 sqft
Lot Area
3.09 acres
Occupancy
86.66%
Year Built
1993
Price Per Sqft
$236.25
Description

Marcus & Millichap is pleased to present the St. Bernardine Medical Plaza, located at 1850 N Riverside Ave in Rialto, CA. The subject property is a 34,709 SF multi-tenant medical office building that was constructed in 1993.

The building is situated 56 miles East of Downtown Los Angeles in the Inland Empire region of Southern California. The building is 22% leased to Renal Advantage (Fresenius | BBB- Credit). The subject property is currently 87% leased overall, offering an attractive 7.50% current & 8.63% projected pro forma cap rate at 95% occupancy. The building is additionally located in a very strong medical submarket, every other 20K+ SF MOB within 3 miles is currently 100% leased.

This listing offers an investor not only an attractive current yield, but also significant pro forma upside, a low PPSF and a credit rated anchor tenant.

Highlights
  • 34,709 SF Multi-Tenant MOB
  • 22% Leased to Renal Advantage (Fresenius | BBB- Credit Rated)
  • $236/SF - Well Below Replacement Cost
  • Very Attractive 8.63% Projected Pro Forma Cap Rate at 95% Occupancy
  • Located 56 Miles East of Downtown Los Angeles
Documents
Title
Offering Memorandum
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Location
Gallery