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10875 Rancho RD Adelanto, CA 92301
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Key Details
Sold Price $5,000,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 20,800 sqft
Price per Sqft $240
MLS Listing ID JT19138241
Sold Date 10/09/19
HOA Y/N No
Year Built 2002
Lot Size 2.420 Acres
Acres 2.42
Property Sub-Type Mixed Use
Property Description
The subject property is currently leased to the County of San Bernardino, Department of Public Social Services and is located at 10875 Rancho Road, Adelanto, San Bernardino County, California 92301.
The County of San Bernardino has continuously occupied the property since April 30, 2002. A new lease has been signed and starts effective July 1, 2019 through June 30, 2024. The County has the option to a “Second Extended Term” for an additional five (5) year term.
The subject property is a 2.42 acre parcel which is improved with a 20,800 square foot office building and is Assessor's Parcel number (APN) 0459-107-12.
The parcel has ample room for expansion of the existing building and falls into the Economic Opportunity Zone in the City of Adelanto, California.
The property is offered based upon a projected 8.5% CAP rate and annual rent increase of 3.5%.
Location
State CA
County San Bernardino
Area 699 - Not Defined
Interior
Laundry None
Building
Lot Description Paved
Story 1
Water Public
Others
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.5
TERMS 1031 Exchange,Cash To New Loan,Submit
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE Agent
SHOW INSTRUCTIONS Tenant occupied. Call listing agent.
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