VILLAGE MEDICAL ARTS PLAZA · 2019. 4. 12. · Village Medical Arts Plaza 341 Magnolia Ave. Corona,...

VILLAGE MEDICALARTS PLAZA

341 MAGNOLIA AVE., SUITES 201 & 203CORONA, CA 92879

Brett Larson, JD, CCIMManaging Director

[email protected]

Eugene HillSenior Advisor

[email protected]

VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors | The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.

Disclaimer

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be usedfor any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent ofthe SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receivingthese materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct,and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representationsor warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or madeavailable to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor anyof their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this OfferingBrochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on termsacceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing andagreed to release the Owner and the SVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospectivepurchaser proceeds at its own risk.

1 PROPERTYINFORMATION

341 Magnolia Ave., Suites 201 & 203Corona, CA 92879

VILLAGE MEDICAL ARTS PLAZA | 341 MAGNOLIA AVE., SUITES 201 & 203 CORONA, CA 92879 SVN | Insight Commercial Real Estate Advisors |

OFFERING SUMMARYSale Price: $3,210,000

Suite Size: ± 8,912 SF (gross)

SF Leased: ± 6,489

Net Operating Income: ± $113,514

SF Available: ± 2,483

Building Size: 43,260 SF

Floors: 2

Elevators: 2

Year Built: 2006

SVN | Insight is pleased to present this rare sale-leaseback opportunity at one of Corona's

premiere medical office projects - Village Medical Arts Plaza. Suites 201 & 203 total

approximately ±8,900 square feet of fully improved medical office space in a growing trade

area where demand medical services and household incomes are on the rise. This

opportunity is ideal for an physician looking to occupy a portion of the space while

collecting passive income on the adjacent unit. Upon close of escrow, Seller will leaseback

Suite 201 (±6,489 SF) on a 5-year term while Suite 203 (±2,483 SF) will remain available for

an owner-user or future tenant.

SALE LEASEBACK / OWNER-USER OPPORTUNITY

Property Summary



SALE HIGHLIGHTS

• Offered at $3,120,000

• Fully improved medical office suite totaling ±8,912

gross SF (±7,574 net) with high quality finishes

throughout

• Space features: 19 Exam/Consult Rooms 4-6 Physician Offices 3 Nurse's Stations 2 Waiting Room / Reception Areas Call Center and Charting Stations

• Prominent building signage

• Market income from seller leaseback occupying

±6,489 SF (5-year lease term)

• Located within a Class A project designed exclusively

for medical use

• Professionally managed project

• Two (2) gurney-capable building elevators

• Less than 1.5 miles from two regional hospitals

• Well-insured, high income community

Complete Highlights


Floor Plan


Owner-User Analysis

2 LOCATIONINFORMATION




Local Map


Regional Map

3 SALECOMPARABLES




1

2

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4

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF

Village Medical Arts Plaza341 Magnolia Ave., Suites 201 & 203Corona, CA 92879

$3,120,000 8,912 SF $350.09

SALE COMPS PRICE BLDG SF PRICE/SF CLOSE

Corona Medical Arts Plaza2815 S. Main St.Corona, CA 92882

$4,900,000 15,244 SF $321.44 12/27/2016

Parker Medical Center44605 Avenida de Missones, Suites 101 & 103Temecula, CA 92592

$677,000 2,708 SF $250.00 01/03/2017

The Helm Center24902 Moulton ParkwayLaguna Hills, CA 92637

$3,800,000 9,775 SF $388.75 07/15/2016

Murrieta Professional Plaza40700 California Oaks Rd.Murrieta, CA 92562

$5,950,000 19,601 SF $303.56 10/30/2017

PRICE BLDG SF PRICE/SF CLOSE

Totals/Averages $3,831,750 11,832 SF $323.85

Sale Comps

341 Magnolia Ave., Suites 201 & 203, Corona, CA 92879SUBJECT PROPERTY

1 2815 S. Main St.Corona, CA 92882

CORONA MEDICAL ARTS PLAZA2 44605 Avenida de Missones, Suites 101 & 103

Temecula, CA 92592

PARKER MEDICAL CENTER3 24902 Moulton Parkway

Laguna Hills, CA 92637

THE HELM CENTER4 40700 California Oaks Rd.

Murrieta, CA 92562

MURRIETA PROFESSIONAL PLAZA


Sale Comps Map

4 LEASECOMPARABLES



RENT COMPS LEASE START SIZE PRICE/SF/MO LEASE TYPE LEASE TERM

Village Medical Arts Plaza341 Magnolia Ave.Corona, CA 92879

6/1/2018 2,084 SF $2.35 NNN 36

Village Medical Arts Plaza341 Magnolia Ave.Corona, CA 92879

8/1/2017 1,222 SF $2.10 NNN 60

Hope Medical Arts Plaza29798 Haun Rd.Menifee, CA 92586

7/1/2018 1,500 SF $2.50 NNN 48

Nutmeg Professional Plaza23644 Clinton Keith Rd.Murrieta, CA 92562

6/1/2018 2,350 SF $2.10 NNN 60

Makena Medical Center31150 Temecula ParkwayTemecula, CA 92592

4/1/2019 5,349 SF $2.05 NNN 120

Rancho Pueblo Professional Park31515 Rancho Pueblo Rd.Temecula, CA 92592

7/1/2018 2,038 SF $2.35 NNN 36

Totals/Averages

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6


Lease Comps

1 341 Magnolia Ave.Corona, CA 92879

VILLAGE MEDICAL ARTS PLAZA2 341 Magnolia Ave.

Corona, CA 92879

VILLAGE MEDICAL ARTS PLAZA3 29798 Haun Rd.

Menifee, CA 92586

HOPE MEDICAL ARTS PLAZA4 23644 Clinton Keith Rd.

Murrieta, CA 92562

NUTMEG PROFESSIONAL PLAZA

5 31150 Temecula ParkwayTemecula, CA 92592

MAKENA MEDICAL CENTER6

31515 Rancho Pueblo Rd.Temecula, CA 92592

RANCHO PUEBLO PROFESSIONALPARK

341 Magnolia Ave., Suites 201 & 203, Corona, CA 92879SUBJECT PROPERTY


Lease Comps Map

VILLAGE MEDICAL ARTS PLAZA · 2019. 4. 12. · Village Medical Arts Plaza 341 Magnolia Ave. Corona,...

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