2299 River Oaks Blvd - Medical FOR SALE


Plumas Lake, CA 95961
$4,575,000 USD
415-713-8578
2299 River Oaks Blvd, Plumas Lake, CA for Sale
$4,575,000 USD
Medical - FOR SALE
1/8
null | 5.75% Cap Rate

2299 River Oaks Blvd
Plumas Lake, CA 95961


HIGHLIGHTS

  • New 10-year net lease with 3% annual rent increases throughout the lease including renewal options
  • Limited landlord responsibilities with tenant reimbursing operating expenses including insurance, common area maintenance, and management/admin fee
  • Attractive 7-year renewal options at Fair Market Value Rent not to be less than 3% increase over previous year’s rent
  • The tenant, Sutter Medical Foundation, reported $1.85 billion in revenue and $723 million in total assets
  • Sutter Health, headquartered in Sacramento, holds an A+ credit rating from Fitch and reported revenues of $1.92 B and total assets of $7.41 B
  • Sutter Health serves over 3 million people with 12,000 doctors and almost 70,000 advanced practice clinicians, nurses, and employees

OVERVIEW

Cushman and Wakefield is pleased to present a new construction 6,260± square foot freestanding medical office building located in Plumas Lake, CA (Affluent Sacramento MSA) leased to Sutter Health for 10 years with 3% annual increases. Located 15 miles south of Yuba City and 30 miles north of Sacramento, the property is part of an emerging commercial corridor adjacent to the on/off ramp of Highway 70, with traffic counts of 21,300 VPD. Neighboring tenants include Walgreens, ARCO am/pm, Chevron, and Plumas Stop & Shop, and the Toyota Amphitheatre and Hard Rock Hotel and Casino are a 5-minute drive east. Additionally there is a Holiday Market and Tractor Supply anchored shopping center in planning directly behind the property. The surrounding area features numerous housing developments with over 7,300 residential units in planning, such as Ross Ranch (617± units), Country Club Estates (1,681± units), and Bear River (1,928± units), to name a few. Demographics are excellent with the average household income over $151,500 within a 3-mile radius.

FOR SALE DETAILS

PRICE

$4,575,000 USD

PRICE/SF

$731 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sutter Health Medical Office

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.54 AC

LAND SF

23,522 SF

ZONING

-

APN/PARCEL ID

016-632-004-000

ASK ABOUT THIS PROPERTY

Christopher SheldonCushman & WakefieldMore Info
415-713-8578

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Christopher SheldonCushman & WakefieldMore Info
415-713-8578

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