Freestanding Absolute NN Zero Landlord Responsibility Corporate Guaranteed Adventist Health. The tenant has operated thru their initial term, recently extended, and have options built into the lease until March 31, 2025, demonstrating their commitment to the site. ±2,758 SF Freestanding Professional Office Building producing a current rate of $3,588/month (Double Net) until March 31, 2023, allowing an investor to extend with the existing tenant or an owner/user to occupy in April 2023. Deal offers a DCR of 1.93 with 30% down, and a 13.72% cash-on-cash return. Building Description: Freestanding office with a private parking lot, well-maintained yard, and professionally maintained building. Property offers multiple private offices, reception area, break room, storage, and private restrooms. Property is positioned on the side to offer multiple parking spaces including street parking, and street signage. The adjacent lot is included in the sale of this property. Lease Details: Adventist Health inked a new lease in 2018 and is in their first corporate guaranteed lease extension through 2023. The tenant completed a remodel when moving in, showing their commitment to the market and location. The area attracts various quality tenants surrounding the location bringing great synergy for Adventist Health to flourish. Tenant Information: Adventist Health is a not-for-profit health care organization which operates facilities throughout the western U.S. states of California, Hawaii, Oregon, and Washington. Adventist Health has 37,000 employees and operates in keeping with the values and health heritage of the Seventh-day Adventist Church. As of 2018, the system includes 20 hospitals, 250 clinics, 4,500 providers and headquartered in Roseville, CA.
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