Office Medical
7908 -7912 Zenith Dr 50/50 Summerhill Plaza
7908 -7912 Zenith Dr, Citrus Heights, CA 95621
Listing Price: $576,667
Investment Overview
The offering is a 3,600-square foot medical office property located in an established location in the city of Citrus Heights, California. More specifically, the property is located at the signalized corner of Antelope Road and Zenith Drive within the grocery anchored shopping center known as SummerHills Plaza. SummerHills Plaza is a regional shopping center home to Raleys, Wells Fargo, Dollar Tree, Round Table, Dutch Brothers (Grand Opening November 2020), Wendys, OReilly auto parts, USPS and other national retailers. This property is adjacent to the Antelope exit of Interstate 80. Approximately 20 minutes west of Sacramento, and 12 minutes east of Roseville California.
The property is currently 50 percent occupied by Summer Hills Veterinary. Summer Hills Veterinary has been at this location for over 27 years and recently extended their lease in March of 2020 for an additional three years. The lease calls for three percent annual rental increases including two (1) year options to extend. An investor or an owner/user has an opportunity to acquire an asset with a stable tenant that has shown dedication to the site.
Lease rates in a five-mile radius range from $1.00 per square foot to $2.40 per square foot. This allows an investor the opportunity to lease-up the property increasing the cash flow over 50 percent. At a competitive lease rate of $1.50 per square feet plus NNN would increase the NOI from $17,101 to $59,196. An owner/user can acquire this asset and take advantage of historically low SBA financing and operate out of this excellent location. This is one of five office/retail pads being offered for sale within the SummerHills plaza.
Offered at $576,667 an investor or owner/user can take advantage of an easy to manage asset with a long-term tenant. The property offers 1,800 square feet of upside space ready for any office, or medical office tenant to move in and increase cash flow. Furthermore, an investor can purchase this property or the portfolio for $3,044,080 or $192 per square foot.
7908 -7912 Zenith Dr 50/50 Summerhill Plaza
Investment Highlights
- Established Operating History
- NNN Lease with 1,800 Square Feet Upside
- Priced Below Replacement Cost Property is Being Sold for $160.18/Square Foot
- Low-Cost Maintenance
- Minimal Landlord Responsibility (Roof and Structure Only)
- Immediate Access to Interstate 80
Exclusively Listed By
Office Medical
7908 -7912 Zenith Dr 50/50 Summerhill Plaza
Listing Price: $576,667
Investment Highlights
- Established Operating History
- NNN Lease with 1,800 Square Feet Upside
- Priced Below Replacement Cost Property is Being Sold for $160.18/Square Foot
- Low-Cost Maintenance
- Minimal Landlord Responsibility (Roof and Structure Only)
- Immediate Access to Interstate 80
Investment Overview
The offering is a 3,600-square foot medical office property located in an established location in the city of Citrus Heights, California. More specifically, the property is located at the signalized corner of Antelope Road and Zenith Drive within the grocery anchored shopping center known as SummerHills Plaza. SummerHills Plaza is a regional shopping center home to Raleys, Wells Fargo, Dollar Tree, Round Table, Dutch Brothers (Grand Opening November 2020), Wendys, OReilly auto parts, USPS and other national retailers. This property is adjacent to the Antelope exit of Interstate 80. Approximately 20 minutes west of Sacramento, and 12 minutes east of Roseville California.
The property is currently 50 percent occupied by Summer Hills Veterinary. Summer Hills Veterinary has been at this location for over 27 years and recently extended their lease in March of 2020 for an additional three years. The lease calls for three percent annual rental increases including two (1) year options to extend. An investor or an owner/user has an opportunity to acquire an asset with a stable tenant that has shown dedication to the site.
Lease rates in a five-mile radius range from $1.00 per square foot to $2.40 per square foot. This allows an investor the opportunity to lease-up the property increasing the cash flow over 50 percent. At a competitive lease rate of $1.50 per square feet plus NNN would increase the NOI from $17,101 to $59,196. An owner/user can acquire this asset and take advantage of historically low SBA financing and operate out of this excellent location. This is one of five office/retail pads being offered for sale within the SummerHills plaza.
Offered at $576,667 an investor or owner/user can take advantage of an easy to manage asset with a long-term tenant. The property offers 1,800 square feet of upside space ready for any office, or medical office tenant to move in and increase cash flow. Furthermore, an investor can purchase this property or the portfolio for $3,044,080 or $192 per square foot.
Exclusively Listed By
