Adventist Health Care — Sale in Fort Bragg, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Fort Bragg, CA 95437
  • Year built: 2005

Investment Figures

Cap rate
8.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus and Millichap is pleased to exclusively present The Adventist Health Mendocino Coast Medical Office, located at 721 River Drive, Fort Bragg, California. The subject property consists of a 12,147-square-foot medical office building, which is situated on a 0.98-acre parcel, and was constructed in 2005. Offers 64 parking spaces which include ADA, individual PG&Esmart meters, fire sprinkler system, security control systems and fire alarm systems. Adventist Health occupies 100 percent of the space, which is separated into suites A, B, and C. Services offered at this location include: Minor Surgeries, Internal Medicine, Women's Health, and Ophthalmology, among others. Tenants operate under a triple-net lease structure with a CPI (2 percent - 5 percent) increase every two years. Adventist Health has an S&P credit rating of A-. Landlord is responsible for paying taxes, insurance, and management fee which are all reimbursed by tenant. Tenant is responsible for all operating expenses, repairs and maintenance and pays directly. There are four, five-year renewal options remaining. Adventist Health in Fort Bragg, California, is part of the Adventist Health system, which is a faith-based, nonprofit healthcare organization operating across the western United States. Adventist Health in Fort Bragg specifically serves the local community in Mendocino County, providing a variety of healthcare services. Conveniently situated, the subject property neighbors The Adventist Health Mendocino Coast Hospital, a twenty-five-bed critical access hospital nestled in Fort Bragg, renowned for its extensive service to coastal community members. Originating from a grassroots movement to establish a hospital district, Mendocino Coast District Hospital was inaugurated on June 26, 1971. Fast forward to July 2020, Mendocino Coast District Hospital became part of the esteemed Adventist Health network. Investment Highlights: • Attractive Strong Credit Backed Lease from Adventist Health A- S&P Rati

Market Context

This office in Fort Bragg, CA is listed for sale. It is offered at an approximate 8.5% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2005. It has been on the market for 100 days. Compare it against other office listings for sale in Fort Bragg, CA — view the full market.

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