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Office Medical

4515-4519 Castle Rd

4515 Castle Rd, La Cañada Flintridge, CA 91011

Listing Price: $3,750,000

Cap Rate
1.35%
Gross SF
5,661
Rentable SF
5,661
Price/Gross SF
$662.43
Year Built
1957
Lot Size
0.24 acres

Investment Overview

Marcus & Millichap is pleased to 4515-4519 Castle Rd, a rare multi-tenant medical office building located directly behind Foothill Blvd in the heart of La Canada (Los Angeles County). The subject property consists of an approximate 5,561 square-foot medical and professional office space situated on a 0.24-acre LF-CG zoned parcel. The site has ample parking with 12 striped spaces located in the front of the building along with street-side parking running adjacent to the property. Foothill Blvd (23,000 VPD) is the most heavily trafficked street in the area and 4515-4519 Castle Rd has the added benefit of sitting back and right on top of the busy street. The demand for medical in one of the most sought after submarkets is going to keep increasing and the future potential of this sites allows for increased flexibility.

According to Costar, there are only 16 medical office buildings in the entire city of La Canada! The subject property benefits largely from a limited supply of commercial real estate in La Canada and the surrounding area due to the length of time it takes to get approved for new developments in the area. However, new apartment building are starting to grow steadily and more will come online in the coming years. The subject property also boasts great accessibility as its located less than 1 mile from both the 210 & 2 Freeway. This coupled with the fact that there are approximately 250,000 people and an average household income of $115,874 within a 5 mile radius will allow a new doctor or other tenant to see an ever increasing stream of income and customers.

This is an ideal opportunity for a medical user or professional office tenant who is looking to occupy the property for their business, while taking advantage of historically low interest rates. SBA loans are fixed and fully amortized over a 25-year period and the current rates are in the low to mid 3 percent range (~3.50%). Contact agent regarding additional SBA incentives available at this time.

Investment Highlights

  • Rare Medical Office Building in the Heart of La Canada
  • High Leasing Demand for Medical/Professional Office in Area
  • Only 16 Medical Office Buildings in all of La Canada

Exclusively Listed By

Financing By

Listing Price: $3,750,000

Cap Rate
1.35%
Gross SF
5,661
Rentable SF
5,661
Price/Gross SF
$662.43
Year Built
1957
Lot Size
0.24 acres

Investment Highlights

  • Rare Medical Office Building in the Heart of La Canada
  • High Leasing Demand for Medical/Professional Office in Area
  • Only 16 Medical Office Buildings in all of La Canada

Investment Overview

Marcus & Millichap is pleased to 4515-4519 Castle Rd, a rare multi-tenant medical office building located directly behind Foothill Blvd in the heart of La Canada (Los Angeles County). The subject property consists of an approximate 5,561 square-foot medical and professional office space situated on a 0.24-acre LF-CG zoned parcel. The site has ample parking with 12 striped spaces located in the front of the building along with street-side parking running adjacent to the property. Foothill Blvd (23,000 VPD) is the most heavily trafficked street in the area and 4515-4519 Castle Rd has the added benefit of sitting back and right on top of the busy street. The demand for medical in one of the most sought after submarkets is going to keep increasing and the future potential of this sites allows for increased flexibility.

According to Costar, there are only 16 medical office buildings in the entire city of La Canada! The subject property benefits largely from a limited supply of commercial real estate in La Canada and the surrounding area due to the length of time it takes to get approved for new developments in the area. However, new apartment building are starting to grow steadily and more will come online in the coming years. The subject property also boasts great accessibility as its located less than 1 mile from both the 210 & 2 Freeway. This coupled with the fact that there are approximately 250,000 people and an average household income of $115,874 within a 5 mile radius will allow a new doctor or other tenant to see an ever increasing stream of income and customers.

This is an ideal opportunity for a medical user or professional office tenant who is looking to occupy the property for their business, while taking advantage of historically low interest rates. SBA loans are fixed and fully amortized over a 25-year period and the current rates are in the low to mid 3 percent range (~3.50%). Contact agent regarding additional SBA incentives available at this time.

Exclusively Listed By

Financing By

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