$5,368,888
$5,368,888
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SOLD DATE : 03/04/2022
Key Details
Sold Price $5,368,888
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
MLS Listing ID P1-7081
Sold Date 03/04/22
HOA Y/N No
Year Built 2019
Property Description
Rare 2-Tenant Corporate Medical NNN Investment! Investment Highlights: New 2018-2019 Construction - excellent building condition with minimal maintenance. Rare 2-Tenant Corporate NNN Medical Center, Leased to Bright Now! Dental and A Plus Urgent Care. Corporate-guaranteed NNN leases with minimal landlord management/responsibilities. Bright Now! Dental is a part of Smile Brands Inc., one of the fastest growing privately held dental companies based out of Irvine, CA, with over 700 dental offices and over 8,200 employees across 30 states. A Plus Urgent Care is managed by a subsidiary of Universal Health Services, Inc. (UHS), a King of Prussia, PA-based company, one of the nation's largest and most respected providers of hospital and healthcare services, has 400 acute care hospitals, behavioral health facilities and ambulatory centers across the U.S., Puerto Rico and the U.K. UHS is a publicly traded company (NYSE: UHS). Menifee Lakes Plaza is a brand new shopping center constructed in 2018-2020, Anchored by Barons Market, LA Fitness, Raising Cane's, Coffee Bean and Tea Leaf, Jamba Juice, Waba Grill, Chevron and more. Internet-Resistant Medical Tenants. Extensive capital improvements have been made by the tenants on their units' interior, including furniture, fixture, and equipment. Indication of their long-term commitment to this location. Premium Southern California 'Infill' Inland Empire Location. Menifee at a Glance: o Population (2020): 97,093o Number of Households (2020): 38,869o High Average Household Income (2020): $87,421o Source: https://www.cityofmenifee.us/DocumentCenter/View/5519/Menifee-At-A-Glance):o In September 2021, Menifee was ranked as Top City in Southwest Riverside County for fiscal health by California State Auditor Strategically Located by the I-215 and Newport Rd (+/-82,263 VPD according to CoStar 2020). Concentrated Retail Corridor on Newport Rd - Nearby retail centers/stores including Menifee Town Center (Living Spaces, Ross Dress for Less, Dollar Tree), Target, Lowe's, Best Buy, HomeGoods, etc.DRIVE-BY ONLY, DO NOT DISTURB TENANTS.
Location
State CA
County Riverside
Area 227 - Menifee
Building/Complex Name Menifee Lakes Plaza
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry None
Exterior
Fence None
Present Use Commercial,Investment
Building
Water Public
Others
Tax ID 340620005
Financing Cash
Special Listing Condition Standard
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