Magnolia Centre Investment
299 West Foothill Boulevard Upland, CA 91786
299 West Foothill Boulevard, Upland, CA, 91786
$8,880,000
For Sale
$8,880,000
95% occupied medical/professional office building for sale.
Property Size36,870 SF
Lot Size2.16 Acres
Price / SF$240.85
Days on Market137
Property Features for 299 West Foothill Boulevard
General Information
- Standard status
- Active
- Size
- 36,870 SF
- Lot size
- 2.16 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1987
Listing agency
NAI Capital - Orange County
(714) 349-3547
Listed by
Steve Liu · License #CalDRE #01323150
(714) 349-3547
Source
Naiglobal
Added: Mar 6 Updated: Jul 6 at 10:29AM Checked: Jul 21 at 5:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Capital - Orange County
Investment Insights
Based on property information with market context.
The Magnolia Centre is a 36,870-square-foot, two-story medical and professional office building located in Upland, within the Route 66 corridor. Constructed in 1987, the building is situated on a 2.16-acre parcel and features an elevator. The property includes surface and covered parking at a ratio of 4.6 per 1,000 square feet. Currently 95% occupied, the multi-tenant building offers investment opportunities with additional cell tower income. Almost 50% of the building is leased to four medical tenants, two of which are publicly traded, with an average tenure of 21 years. The property benefits from staggered lease expirations, providing stable income. The location on Foothill Boulevard within the Route 66 retail corridor experiences over 54,000 vehicle trips daily. The area has a dense population of over 380,000 and an average household income of over $115,000 within a 5-mile radius. The property is located approximately 1.5 miles from San Antonio Regional Hospital, a 370,000-square-foot acute-care facility with 363 licensed beds, and is conveniently located minutes from both the 210 and 10 Freeways. The City of Upland encourages business expansion and attracts restaurants, retail, professional services, light industrial, and manufacturing companies.
Key Highlights
- 95% Occupied Medical/Professional Office Investment with additional cell tower income
- Almost 50% of the building leased to medical tenants with an average tenure of 21 years
- Located in a dynamic location on Foothill Boulevard, experiencing over 54,000 vehicle trips daily
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $628.3k | $17.04 |
| − Vacancy | −$49.6k | −$1.35 |
| EGI | $578.6k | $15.69 |
| − OpEx | −$144.7k | −$3.92 |
| NOI | $434.0k | $11.77 |
36,870 SF · lease $17.04/SF/yr · vacancy 7.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$6.20M
$5.42M – $7.23M
NOI $433,974 @ 7.0% cap · market cap 4.89%
Second Best
Healthcare Medical
$4.37M
$3.82M – $5.09M
NOI $305,615 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$7.78M
$6.81M – $9.07M
NOI $544,403 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Select Physical Therapy ...
Medical Clinic
Johnson Judith A
Physician
The Law Office of Howard ...
Law Firm
On Tap barbershop
Barber Shop
Venashomes,inc
Real Estate Agency
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FAQs
What type of property is this?
Medical Office Space - 95% occupied medical/professional office building for sale.
Where is this medical office space located?
The property is located at 299 West Foothill Boulevard Upland, CA.
What is the asking price?
The asking price for this property is $8,880,000.
What are key features of this property?
This property features: 95% Occupied Medical/Professional Office Investment with additional cell tower income; Almost 50% of the building leased to medical tenants with an average tenure of 21 years; Located in a dynamic location on Foothill Boulevard, experiencing over 54,000 vehicle trips daily
