3907 Waring Road
$800,000
3907 Waring Road Oceanside, CA 92056
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About this listing
Extremely RARE type of Ground Lease Agreement NNN Ground lease with 24 years left Fully leased to medical specialist (Oncologist etc) Medical Building located alongside the Tri-City Medical Hospital and Tri-City Medical Park 10,076 Sq ft Medical Building Managed by ShareMD Current rent with no increase for 24 years is significantly lower than market rent (Currently recieving around 10% of the market value rent) HUGE UPSIDE POTENTIAL AFTER 24 YEARS Perfect for buyers who want to purchase now and looking far ahead for a huge incentive later on although no increase of rent during the 24 years Originally 75 years Ground lease with 24 years left until lease runs out on 2/27/2059 Tenant pays for everyting, Landlord collects approximately $2,500 per month net for the next 24 years As a back up safety, during the lease term until 2059, tenants have the first right of refusal to purchase at a set high- price
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Cap Rate
3.81%
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NOI
$30,449.88
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Building Size
10,076 sqft
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Lot Area
0.71 acres
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Year Built
1985
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Zoning
CR
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Floors
1
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Parking Spots
51
DESCRIPTION
- • Available Floors: 1
- • Average Floor Size: 10076.0
- • Average Occupancy Rate: 100.0
- • Cash Flow: 30449.88
- • Fully Leased Income: $ 30449.88
- • Max Contiguous Area: 10076.0
- • Age: 31-40 Years Old
- • Lot Size: 1/2 - 1 Acre
- • Sewer: City
- • Water: City Water
