Description

Lee & Associates – Pasadena is proud to present for sale the Grand Avenue Medical Suites, a medical office building located at 902 N. Grand Avenue, Santa Ana, CA. Constructed in 1987, the 2-story elevator served building is master metered for electricity and consists of ± 20,043 SF, situated on a ±33,106 SF parcel. The property is well located on Grand Avenue boasting daily traffic counts of 34,000 and is easily accessible via Grand Avenue’s Interstate 5 on and off ramps less than a few hundred feet from the building offering quick access to the 22, 55 and 57 freeways as well.

The building is currently occupied by 5 tenants and has 2 suites that are vacant. Most of the suites are built out for medical professionals and suite 101 (currently available) was left in the very early stages of being built out into an out-patient surgery center. The average lease rate for the building is currently $1.49/SF gross and several of leases are structured allowing ownership to recapture CAM, utilities, insurance, and property taxes.

The offering is an excellent opportunity for an owner/user to invest in real estate by utilizing a 10-15% down payment through SBA financing for qualified buyers combined with historically low interest rates. Additionally, the property is located in a Qualified Opportunity Zone (QOZ) which may provide significant tax benefits to an investor.

Highlights

Excellent owner/user medical office opportunity

SBA Financing available with 10-15% down for qualified buyers at historically low interest rates

Located in Qualified Opportunity Zone

Well Located Asset approx. 4 miles south of St Joseph’s & Choc Hospital, less than approx. 2 miles west of Orange County Global Medical Center and less than 3 miles to the Southeast is Foothill Regional Medical

34,000 Traffic Count on Grand Avenue