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Richley Medical Plaza 3434 Midway Dr 24,062 sq ft 95% Let Office Property San Diego, CA 92110 £7,068,884 (£293.78/sq ft) 6.82% Net Initial Yield

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INVESTMENT HIGHLIGHTS

  • Long-Term Tenants / Stable Cash-Flow
  • Value-Add Location Adjacent to Pechanga Stadium
  • $600,000+ Recent Renovation
  • High-Quality Investment Opportunity
  • $2 Billion+ Redevelopment Project - 16,500 Seat Stadium / 4,250 Apartments / 130,000 SF Retail & Entertainment / 200+ Hotel Rooms
  • 96% Occupied / Core Tenant in Operation for 34 Years / 30+ Multistate Locations

EXECUTIVE SUMMARY

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 96% 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 cash-flow investment opportunity with stable long-term returns.

ATTACHMENTS

3434 Midway_OM_r

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Property Size
24,062 sq ft
Costar Property Class
B
Year Built/Renovated
1993/2024
Price
£7,068,884
Price per sq ft
£293.78
Yield
6.82%
NOI
£482,098
Occupancy Rate
95%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
13,250 sq ft
Floor To Floor Height
9 ft
Plot ratio
0.65
Total Plot Size
0.85 ac
Use Class
CC-1-3 - Commercial / Medical
Parking
54 Spaces (2.24 Spaces per 1,000 sq ft Leased)

AMENITIES

  • Atrium
  • Security System
  • Signage
  • Skylights
  • Wheelchair Accessible
  • Storage Space
  • Air Conditioning
  • Backup Power / Generators

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • sq ft OCCUPIED
  • RENT/sq ft
  • LEASE TYPE
  • LEASE END
  • Professional, Scientific, and Technical Services
  • -
  • -
  • Modified Gross
  • May 2027

ARCpoint Labs is a national, full-service, third-party provider/administrator of accurate, reliable, and confidential diagnostic testing. They offer safe, reliable testing for individuals, companies, and legal and healthcare professionals. They've been in the drug and alcohol testing business for 20+ years, and their staff has over 60 years of combined industry experience. Their industry experts have developed comprehensive programs that address the wide-ranging aspects of federally mandated and non-regulated programs that assist clients in creating and maintaining a drug and alcohol-free workplace. Additionally, they provide the means for individuals to order tests to monitor and maintain a healthy life, in many cases without the need for a physician order. ARCPoint’s comprehensive testing services are built around their passion to reduce drug abuse and empower individuals and companies to manage their health and wellness through affordable lab screenings.

  • Health Care and Social Assistance
  • -
  • -
  • -
  • -

Synovation Medical Group aims to restore function and richness to patients’ lives, giving them control over their pain and reducing their reliance on medications through collaborative, multidisciplinary pain management programs that are unavailable elsewhere. Synovation Medical Group strives to be a leader in pain management by starting with the premise that treatments must be innovative, ethical, and efficient. Their specialists come from a wide variety of disciplines, including Physical Medicine and Rehabilitation, Neurology, Anesthesiology, Physical and Occupational Therapy, Alternative and Complementary Medicine, and Behavioral Health. They collaborate and integrate these approaches to find the right individual approach for each patient and their goals.

  • Health Care and Social Assistance
  • -
  • -
  • -
  • -

Why wait hours in a San Diego emergency room when you can quickly get affordable, quality care in as little as 5 minutes? They have provided personal, exceptional care in San Diego for over 20 years. Their San Diego urgent care center is well-equipped to handle most of your non-life-threatening medical emergencies; no appointment is needed. When you need emergency care in San Diego, trust the well-trained staff of experienced doctors, nurses, and technicians.

  • Viva Wellness Medical Group
  • Service type
  • -
  • -
  • -
  • -
TENANT INDUSTRY sq ft OCCUPIED RENT/sq ft LEASE TYPE LEASE END
Professional, Scientific, and Technical Services - - Modified Gross May 2027
Health Care and Social Assistance - - - -
Health Care and Social Assistance - - - -
Viva Wellness Medical Group Service type - - - -

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • USE
  • CONDITION
  • AVAILABLE
  • 2nd Fl-Ste 2008
  • 1,090 sq ft
  • Office / Medical
  • Full Fit-Out
  • Now

Large open area, three offices and a restroom.

Space Size Space Use Condition Available
2nd Fl-Ste 2008 1,090 sq ft Office / Medical Full Fit-Out Now

2nd Fl-Ste 2008

Size
1,090 sq ft
Space Use
Office / Medical
Condition
Full Fit-Out
Available
Now

2nd Fl-Ste 2008

Size 1,090 sq ft
Space Use Office / Medical
Condition Full Fit-Out
Available Now

Large open area, three offices and a restroom.

Walk Score®
Easily Walkable (85)
Bike Score®
Good for cycling (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures how walkable a location is.
Transit Score® measures access to public transport.
Bike Score® measures how accessible a location is by bike
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures how walkable
a location is. Transit Score®
measures access to public transport. Bike Score®
measures how accessible a location is by bike®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
441-650-22
Land Assessment
£3,272,319
Improvements Assessment
£1,636,159
Total Assessment
£4,908,479
  • Listing ID: 38424435

  • Date on Market: 12/11/2025

  • Last Updated:

  • Address: 3434 Midway Dr, San Diego, CA 92110

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