720 Paularino Ave - Medical FOR SALE


Costa Mesa, CA 92626
$15,000,000 USD
626-576-8811
720 Paularino Ave, Costa Mesa, CA for Sale
$15,000,000 USD
Medical - FOR SALE
1/10
null | 4.85% Cap Rate

720 Paularino Ave
Costa Mesa, CA 92626


HIGHLIGHTS

  • Stable Income & Owner-User Opportunity
  • Prime Location with Exceptional Accessibility
  • Ample Parking with ADA Accessibility
  • Exclusive Surgical Facility in a High-Demand Location
  • Fully Renovated Medical Office Building

OVERVIEW

Discover this Rare and Exceptional Two-Story Medical and Surgical Office Building nestled in the heart of Costa Mesa! It's the ONLY Commercial Building that has been APPROVED for Medical and Surgical uses for sale on the market in Orange County! The owner spent over 5 million to Completely Renovate the inside and outside in the Year of 2022 using High-End materials. The Subterranean Parking was also Leveled Up to meet the unique requirements of Contemporary Medical Practices. This building features an unparalleled blend of Elegance and Functionality! Each space has been Meticulously Crafted with Designer Touches that elevate Every Corner! Marble Flooring, Custom Designed Walls and Ceilings throughout! The property showcases a range of Modern Amenities as well, such as Elevators, Wheelchair Accessibility, Abundant Free Parking on the Ground Level and Two Sub-Ground Levels, making it fully ADA Compliant! This is a Sale-Leaseback deal which has steady cash flow with the flexibility to occupy or lease at Market Rent for Maximum Investment Potential. The building currently has the major Long-Term Tenant, signed a 5-Year NNN Lease and two 5-Year Options with 3% Annual Increases. The Tenant is the well-known "Wave Plastic Surgery & Aesthetic Laser Center" and the "Costa Mesa Surgery Center", who occupy 82% of the whole building. Wave owns 5 Branches spreading in San Francisco, West LA, Arcadia, Rowland Heights, and Costa Mesa. The rest of the 18% Leasable Spaces can be either for owner-using or leasing to Multiple Tenants for other business. This building is definitely in a Highly Sought-After Area with close proximity to Major Shopping Centers such as South Coast Plaza, featuring world-class retail, dining, and entertainment. It is also close to Hotels, Hospitals, John Wayne Airport and easy access to Freeways. It truly represents the workstyle of Unmatched Sophistication and Charm!!! OM will be provided upon signing the Confidentiality Agreement.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$630 USD /SF

CAP RATE

4.85%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Paularino Medical Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

C-1

APN/PARCEL ID

141-071-29

ASK ABOUT THIS PROPERTY

Jing ChenRE/MAX ChampionsMore Info
626-576-8811

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Jing ChenRE/MAX ChampionsMore Info
626-576-8811

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