Skip to main content

Office Medical

High Desert Medical Campus

18523 Corwin Rd, Apple Valley, CA 92307

Listing Price: $7,000,000

Cap Rate
5.28%
Gross SF
46,688
Rentable SF
46,688
Price/Gross SF
$149.93
Occupancy
81.0%
Year Built
2007
Lot Size
3.84 acres

Investment Overview

Marcus & Millichap, is pleased to offer for High Desert Medical Campus (the “Portfolio”) consisting of two (2) adjacent medical office buildings known as Choice Medical Plaza (“CMP”) located at 18522 US Highway 18, Apple Valley, CA and Corwin Medical Center (“CMC”) located at 18523 Corwin Road, Apple Valley, CA. Choice Medical Plaza and Corwin Medical Center combined are 81% occupied and comprise the premier medical campus in the High Desert, providing a comprehensive range of specialties in immediate proximity to the 213-bed Providence St. Mary Medical Center.

The Portfolio consists of approximately +/-46,688 square feet of rentable building area just 90 minutes east of Los Angeles and 42 miles north of San Bernadino just off Interstate 15.

The Portfolio is an exceptional value-add investment opportunity with high quality underlying fundamentals and tenancy. The High Desert Medical Campus portfolio is currently 81% occupied with fifteen (15) true medical office tenants, no general office, and features +/- 2.4-year weighted average lease term (WALT) remaining.

The High Desert Medical Campus portfolio is just two miles from the border of Victorville, which is in southwestern San Bernardino County. The Victor Valley is located along Interstate-15, between Los Angeles and Las Vegas and within Southern California’s Inland Empire. Also known as the “High Desert”, the Victor Valley encompasses four growing communities, Adelanto, Apple Valley, Hesperia and Victorville. Nearly 450,000 people call the Victor Valley home.

The Victor Valley is bordered by the San Bernardino Mountains to the south and the San Gabriel Mountains to the southwest. Historically, the economy of Victor Valley was dominated by mining and agriculture. However, in recent decades, the area has diversified into retail, industrial, and service sectors. The presence of logistics centers due to the Valley’s strategic location along major transportation routes has also contributed to economic growth.

Investment Highlights

  • Rare, value-add medical office investment opportunity with a very low basis providing long-term competitive edge.
  • Strategically located with abundant amenities and prime demographics.
  • High-quality buildings with recent capital improvements.
  • Strong performing office submarket with favorable characteristics.

Exclusively Listed By

Broker of Record

  • Tony Solomon

    Senior Vice President/District Manager

    (310) 909-5450

    License(s) CA: 01238010

    California

Office Medical

High Desert Medical Campus

Listing Price: $7,000,000

Cap Rate
5.28%
Gross SF
46,688
Rentable SF
46,688
Price/Gross SF
$149.93
Occupancy
81.0%
Year Built
2007
Lot Size
3.84 acres

Investment Highlights

  • Rare, value-add medical office investment opportunity with a very low basis providing long-term competitive edge.
  • Strategically located with abundant amenities and prime demographics.
  • High-quality buildings with recent capital improvements.
  • Strong performing office submarket with favorable characteristics.

Investment Overview

Marcus & Millichap, is pleased to offer for High Desert Medical Campus (the “Portfolio”) consisting of two (2) adjacent medical office buildings known as Choice Medical Plaza (“CMP”) located at 18522 US Highway 18, Apple Valley, CA and Corwin Medical Center (“CMC”) located at 18523 Corwin Road, Apple Valley, CA. Choice Medical Plaza and Corwin Medical Center combined are 81% occupied and comprise the premier medical campus in the High Desert, providing a comprehensive range of specialties in immediate proximity to the 213-bed Providence St. Mary Medical Center. The Portfolio consists of approximately +/-46,688 square feet of rentable building area just 90 minutes east of Los Angeles and 42 miles north of San Bernadino just off Interstate 15. The Portfolio is an exceptional value-add investment opportunity with high quality underlying fundamentals and tenancy. The High Desert Medical Campus portfolio is currently 81% occupied with fifteen (15) true medical office tenants, no general office, and features +/- 2.4-year weighted average lease term (WALT) remaining. The High Desert Medical Campus portfolio is just two miles from the border of Victorville, which is in southwestern San Bernardino County. The Victor Valley is located along Interstate-15, between Los Angeles and Las Vegas and within Southern California’s Inland Empire. Also known as the “High Desert”, the Victor Valley encompasses four growing communities, Adelanto, Apple Valley, Hesperia and Victorville. Nearly 450,000 people call the Victor Valley home. The Victor Valley is bordered by the San Bernardino Mountains to the south and the San Gabriel Mountains to the southwest. Historically, the economy of Victor Valley was dominated by mining and agriculture. However, in recent decades, the area has diversified into retail, industrial, and service sectors. The presence of logistics centers due to the Valley’s strategic location along major transportation routes has also contributed to economic growth.

Exclusively Listed By

Broker of Record

  • Tony Solomon

    Senior Vice President/District Manager

    (310) 909-5450

    License(s): CA: 01238010

    California

MM Texture Background
MM Textured Background Lower