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PRICE REDUCED BY $810,000 - 5.64% Cap 38690 Stivers St
10,285 SF 27% Leased Office Building Fremont, CA 94536 £5,018,040 (£488/SF) 5.63% Net Initial Yield
Investment Highlights
- Opportunity for an owner-user to occupy 3,771 sf while benefiting from $226,000 of net income from the Washington Hospital lease
- One half block from the Washington Hospital campus
- Opportunity Zoned (OZ) property
- 5.64% Cap Rate (Washington Hospital Leases 63% of the building - LED 6/31/2029)
- Excellent 1031 Exchange Opportunity
- Large 35,680 sf lot with 65+ car parking
Executive Summary
1. Washington Hospital Anchored NNN leased investment (63% leased by Washington Hospital)
2. New 5 year lease at $2.90/sf NNN with 3.0% annual increases (Lease expires in 6/31/2029)
3. 3,771 square feet available for an owner user (previously used as physical therapy space
4. Highly improved interior buildout
5. Excellent 1031 Exchange opportunity
6. One half block from the main Washington Hospital campus
7. Large lot of 35,680 offering 65 car parking
8. Separate gas and electrical meters
9. Opportunity zone (OZ) property
Property Facts
Amenities
- Security System
- Signage
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
1.. 3,771 square feet available for an owner user (previously used as physical therapy space 2. Nicely improved interior buildout 3. One half block from the main Washington Hospital campus 4. Large lot of 35,680 offering 65 car parking 5. Highly desirable medical office location 6. The vacant space was previously used by a physical therapist.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 100 | 3,771 SF | Office/Medical | Full Build-Out | Now |
1st Fl-Ste 100
| Size |
| 3,771 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 100
| Size | 3,771 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
1.. 3,771 square feet available for an owner user (previously used as physical therapy space 2. Nicely improved interior buildout 3. One half block from the main Washington Hospital campus 4. Large lot of 35,680 offering 65 car parking 5. Highly desirable medical office location 6. The vacant space was previously used by a physical therapist.
PROPERTY TAXES
| Parcel Number | 501-1536-074-00 | Improvements Assessment | £892,816 |
| Land Assessment | £395,412 | Total Assessment | £1,288,227 |
PROPERTY TAXES
-
Lloyd Bakan -
Jon Geary -
Avison Young
Presented by
PRICE REDUCED BY $810,000 - 5.64% Cap | 38690 Stivers St
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