1215 W Covina Pky - Medical FOR SALE


West Covina, CA 91790
$4,700,000 USD
949-724-5552
1215 W Covina Pky, West Covina, CA for Sale
$4,700,000 USD
Medical - FOR SALE
1/9
null | 6.37% Cap Rate

1215 W Covina Pky
West Covina, CA 91790


HIGHLIGHTS

  • STNL Medical Building – Enki Youth & Family Services – West Covina, CA
  • Occupied by Non-Profit Corporation Providing Mental Health Services in LA County
  • Over 13.5 Lease Years Remaining in Primary Term - Two 5 Year Option Periods
  • Inflation Resistant Cash Flows – Annual Rent Increases - (1% in Primary Term & 2% In Options)
  • Outparcel to Plaza West Covina – 1.2 Million SF Super Regional Mall - Premier Shopping & Dining Destination for the West LA County Community
  • Strategically Positioned on W Covina Parkway – Over 22,200 VPD

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant net leased medical office asset in West Covina, CA. Enki Youth & Family Services has occupied the building since 2016 and has over 13.5 lease years remaining in the primary term with two 5-year option periods and annual rent increases providing inflation resistant cash flows for year to come. The 18,040 SF building on 0.36-acre parcel is positioned as an outparcel to Plaza West Covina, the premier shopping and dining destination in the west Los Angeles County community. Located along W Covina Parkway (22,200 VPD) and adjacent to Interstate 10 (230,000 VPD) the subject property prospers from excellent visibility and access. Nearby retailers include Best Buy, Macy’s, JCPenney, Michaels, Vons, CVS, 7-Eleven, Bank of America, Wells Fargo, Chick-fil-A, McDonald’s, Panera Bread, Starbucks and more. This is an excellent opportunity to purchase a long-term net leased medical office in the Los Angeles MSA (population exceeding 18.4 million) with annual rent bumps, strong demographics and irreplaceable real estate providing years of stable income.

FOR SALE DETAILS

PRICE

$4,700,000 USD

PRICE/SF

$261 USD /SF

CAP RATE

6.37%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,464 SF

ZONING

WCCR*

APN/PARCEL ID

8474-003-063

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jereme SnyderColliersMore Info
949-724-5552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.