999 Medical Office

999 N. Tustin Ave.,
Santa Ana, CA 92705

~14,000 SF Medical Office for Sale

$4,980,000
Offering Price
$240,329
NOI
4.83%
Cap Rate
$356
Price Per SF
13,974
Building SF
Multiple
Tenancy
$4,980,000
Offering Price
$240,329
NOI
4.83%
Cap Rate
$356
Price Per SF
13,974
Building SF
Multiple
Tenancy

Investment Summary

  • First Team Commercial is proud to offer 11 contiguous medical office condos, currently occupied by three tenants. Visually feels like two spaces. The Buyer may utilize up to 9,560 SF and enjoy rental income of $129,000 per year from OC Diagnostics. OC Diagnostics, a state of the art diagnostic radiology center has invested over one million dollars into their space and has a long-term lease in place with 3% annual increases. Orange County Global Medical Center (adjacent to subject property) sends their patients to this radiology center.

Investment Highlights

  • OC Diagnostics - Long Term Lease w/ 3% annual increases
  • Owner/User Potential 4,033 to 9,560 SF
  • Located Next to OC Global Medical Center Hospital
  • Ample Parking 5:1,000 Ratio
  • Synergistic Tenant OC Diagnostics
  • Rental Income Upside Potential (DDM's rent is below market)
  • Seller will Guarantee Rent for 12 months for 100% Occupancy

Location Summary

  • Located on the Orange County Global Medical Center campus, the 10th largest hospital in Orange County in terms of employment with 1,347 employees. The Santa Ana sub-market boasts one of the lowest medical office vacancy rates in all of Southern California at 9% Medical Office Rents today are 30% below peak rates and are poised to grow into the foreseeable future since there is little to no medical office construction, occupancy rates are improving and growth in Southern California' s overall population and aging senior population is increasing. Synergistic location with easy access for doctors and patients between the hospital and building Freeway Frontage along the 55 Freeway. Excellent Freeway Access via two four way interchanges at both Fourth Street and Seventeenth Street to the 55, 22, and 5 freeways providing tenants easy access to the greater Orange County market. Ideal medical office amenity base within 2 miles of 2 hotels, 2 health clubs, 7 grocery stores, 11 banks, 3 pharmacies, and 45 restaurants. Tremendous medical office demographics. Within 5 miles of 630,201 people with an average household income of $65,834 * In the last year, Downtown Santa Ana has started to undergo changes along 4th Street including a $5 million renovation bringing new restaurants and retailers to the neighborhood. Within a 5 minute drive of Main Place Mall, The Outlets of Orange, a Simon Mall Outlet Center and Tustin Marketplace. Within a radius of 10 miles of the city are several of California' s most popular tourist attractions, such as Disneyland, Knott' s Berry Farm, Angel Stadium, Honda Center, John Wayne Airport and Southern California beaches.
  • First Team Commercial is proud to offer 11 contiguous medical office condos, currently occupied by three tenants. Visually feels like two spaces. The Buyer may utilize up to 9,560 SF and enjoy rental income of $129,000 per year from OC Diagnostics. OC Diagnostics, a state of the art diagnostic radiology center has invested over one million dollars into their space and has a long-term lease in place with 3% annual increases. Orange County Global Medical Center (adjacent to subject property) sends their patients to this radiology center.
FOR MORE DETAILS CONTACT
John Gessford
Senior Vice President | Principal
(949) 278-6645
jgessford@lee-associates.com
01137479