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Office Medical

MemorialCare Baker Medical

660 Baker St, Costa Mesa, CA 92626

Listing Price: $7,800,000

Cap Rate
5.83%
Rentable SF
9,845
Occupancy
100.0%
Year Built
1975
Lot Size
0.23 acres

Investment Overview

Marcus & Millichap (NYSE:MMI), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in MemorialCare at Baker (“Property”), a 100% NNN-leased medical office building totaling 9,845 square feet located at 660 Baker Street, Building A, in Costa Mesa, California. The Property is anchored by MemorialCare, an AA- (S&P) investment-grade health system, occupying approximately 73% of the building and operating a Primary Care and Urgent Care facility under the Family Care Centers Medical Group banner. The Property has been fully renovated and is delivered in “like-new” condition, featuring significant tenant capital investment by MemorialCare and a demonstrated history of lease extensions and expansions with CAS Biosciences, reinforcing long-term tenancy and income durability.
The Property, located at 660 Baker Street, Building A, in the heart of the highly sought after SoBECA District. in Costa Mesa. The asset offers exceptional visibility via Bristol and Baker (±66,729 ADT), immediate access to the I-405, SR-55 & SR-73 Highways, and walkable proximity to one of Orange County’s premier concentrations of food, beverage, and daily-needs amenities.

Investment Highlights

  • MEMORIALCARE MEDICAL | AA- (S&P) INVESTMENT GRADE CREDIT
  • ENTRENCHED TENANCY WITH SIGNIFICANT TENANT INVESTMENT & TRACK RECORD OF EXTENSIONS
  • SECURE, PREDICTABLE CASH FLOWS WITH LIMITED NEAR-TERM ROLLOVER
  • COMPLETELY RENOVATED – "LIKE-NEW" MEDICAL OFFICE ASSET
  • IRREPLACEABLE, WALKABLE SoBECA LOCATION WITH DESTINATION AMENITIES
  • MARK-TO-MARKET OPPORTUNITY WITH DOWNSIDE PROTECTION

Exclusively Listed By

Financing By

Office Medical

MemorialCare Baker Medical

Listing Price: $7,800,000

Cap Rate
5.83%
Rentable SF
9,845
Occupancy
100.0%
Year Built
1975
Lot Size
0.23 acres

Investment Highlights

  • MEMORIALCARE MEDICAL | AA- (S&P) INVESTMENT GRADE CREDIT
  • ENTRENCHED TENANCY WITH SIGNIFICANT TENANT INVESTMENT & TRACK RECORD OF EXTENSIONS
  • SECURE, PREDICTABLE CASH FLOWS WITH LIMITED NEAR-TERM ROLLOVER
  • COMPLETELY RENOVATED – "LIKE-NEW" MEDICAL OFFICE ASSET
  • IRREPLACEABLE, WALKABLE SoBECA LOCATION WITH DESTINATION AMENITIES
  • MARK-TO-MARKET OPPORTUNITY WITH DOWNSIDE PROTECTION

Investment Overview

Marcus & Millichap (NYSE:MMI), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in MemorialCare at Baker (“Property”), a 100% NNN-leased medical office building totaling 9,845 square feet located at 660 Baker Street, Building A, in Costa Mesa, California. The Property is anchored by MemorialCare, an AA- (S&P) investment-grade health system, occupying approximately 73% of the building and operating a Primary Care and Urgent Care facility under the Family Care Centers Medical Group banner. The Property has been fully renovated and is delivered in “like-new” condition, featuring significant tenant capital investment by MemorialCare and a demonstrated history of lease extensions and expansions with CAS Biosciences, reinforcing long-term tenancy and income durability. The Property, located at 660 Baker Street, Building A, in the heart of the highly sought after SoBECA District. in Costa Mesa. The asset offers exceptional visibility via Bristol and Baker (±66,729 ADT), immediate access to the I-405, SR-55 & SR-73 Highways, and walkable proximity to one of Orange County’s premier concentrations of food, beverage, and daily-needs amenities.

Exclusively Listed By

Financing By

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