Fully Leased NNN Medical Office Investment 22 W 35th St 19,717 SF 100% Leased Office Building National City, CA 91950 £7,349,355 (£372.74/SF) 8.57% Net Initial Yield
INVESTMENT HIGHLIGHTS
- National City Medical Center offers investors a renovated, stabilized medical office with an exceptional South Bay location and strong NOI.
- Sitting at the gateway of Chula Vista and National City, the property serves a large patient base with a growing demand for medical services.
- Near quality amenities and Scripps Mercy Hospital, the location attracts tenants and ensures convenience for medical professionals and patients.
- 100% occupied with NNN leases, with newly signed agreements ensuring long-term stability and a high yield.
- Extensive 2023 upgrades include a solar parking canopy, EV charging stations, and modern finishes and fixtures, making it stand out in the market.
- South Bay's economic growth, driven by infrastructure and commercial development, enhances the property's value and its appreciation potential.
EXECUTIVE SUMMARY
Pacific Coast Commercial has been retained as the exclusive broker for the sale of 22 W. 35th Street, National City, California. This is a 100% leased, true triple net, prime investment opportunity.
The property consists of a ±19,717-square-foot, two-story medical office building on an approximately ±41,817-square-foot lot (±0.96 acres). With a Net Operating Income (NOI) of $828,016, this property provides a solid return on investment for those seeking a stable, income-generating asset.
22 W 35th Street features an NNN (triple net lease) structure, minimizing the landlord's operational responsibilities while offering consistent cash flow. Built in 1974, the building has been modernized through renovations in 2008 and 2024, enhancing its value and appeal. It boasts 69 parking spaces, a solar-powered parking canopy with EV charging stations, and is elevator-served. The building is also zoned CS (Service Commercial), allowing for a range of commercial uses, with its current layout perfectly suited for medical offices.
The property is strategically located at Interstate 5 and CA 54, right on the boundary of Chula Vista, allowing it to pull from the high-demand areas of both the Chula Vista and National City submarkets. This makes the property an attractive option for investors looking for long-term stability. The property has a 100% occupancy rate and provides immediate rental income with minimal risk. This is a rare chance to own a well-maintained, energy-efficient building in an excellent location.
The property consists of a ±19,717-square-foot, two-story medical office building on an approximately ±41,817-square-foot lot (±0.96 acres). With a Net Operating Income (NOI) of $828,016, this property provides a solid return on investment for those seeking a stable, income-generating asset.
22 W 35th Street features an NNN (triple net lease) structure, minimizing the landlord's operational responsibilities while offering consistent cash flow. Built in 1974, the building has been modernized through renovations in 2008 and 2024, enhancing its value and appeal. It boasts 69 parking spaces, a solar-powered parking canopy with EV charging stations, and is elevator-served. The building is also zoned CS (Service Commercial), allowing for a range of commercial uses, with its current layout perfectly suited for medical offices.
The property is strategically located at Interstate 5 and CA 54, right on the boundary of Chula Vista, allowing it to pull from the high-demand areas of both the Chula Vista and National City submarkets. This makes the property an attractive option for investors looking for long-term stability. The property has a 100% occupancy rate and provides immediate rental income with minimal risk. This is a rare chance to own a well-maintained, energy-efficient building in an excellent location.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
19,717 SF
Building Class
B
Year Built/Renovated
1974/2024
Price
£7,349,355
Price Per SF
£372.74
Net Initial Yield
8.57%
NOI
£629,736
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
9,859 SF
Slab to Slab
10 ft
Building FAR
0.47
Lot Size
0.96 AC
Zoning
CS - Zoning allows for intensive commercial activities, specialized service establishments, light manufacturing, wholesaling, and distribution uses.
Parking
70 Spaces (3.55 Spaces per 1,000 SF Leased)
AMENITIES
- Natural Light
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 562-310-72 | Improvements Assessment | £2,506,319 |
| Land Assessment | £2,280,185 | Total Assessment | £4,786,503 |
