Two-Suite Medical Office
For Sale
Contact for pricing
5601 Norris Canyon Rd, San Ramon, CA 94582
Configured with exam rooms, consult rooms, and waiting areas near San Ramon Regional Medical Center.
Property Size30,000 SF
Price / SF$291.72
Days on Market916
Property Features for 5601 Norris Canyon Rd
General Information
Standard status
Active
Size
30,000 SF
Property subtype
OFFICE
Additional Details
Office Units
2
Building Details
Building Size
30,000 SF
Listing Agency:
Newmark | Walnut Creek
(925) 974-0100
Listed By:
Rick T. Steffens · License #00466002
(925) 974-0110
Source:
Moodyscre
Added: May 2, 2024
Changed: Nov 2
Last Checked: Nov 1 at 9:10AM
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 Newmark | Walnut Creek
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Investment Insights
Based on property information with market context.
This 857-square-foot medical office property comprises two condo suites within a 30,000-square-foot medical building at 5601 Norris Canyon Rd in San Ramon. The suites are configured with appropriately sized exam rooms, consult rooms, and waiting areas, providing a purpose-built layout for medical office operations.
The property is steps away from San Ramon Regional Medical Center, a 123-bed acute care hospital, and the Outpatient Surgery Center. The units are subject to an unsubordinated ground lease extending through 2087. Buyer approval by the Ground Lessor is required, and all buyers must be on staff at San Ramon Regional Medical Center.
The property is steps away from San Ramon Regional Medical Center, a 123-bed acute care hospital, and the Outpatient Surgery Center. The units are subject to an unsubordinated ground lease extending through 2087. Buyer approval by the Ground Lessor is required, and all buyers must be on staff at San Ramon Regional Medical Center.
Key Highlights
- Two medical office condo suites totaling 857 square feet
- Located within a 30,000 SF medical building
- Steps away from San Ramon Regional Medical Center and the Outpatient Surgery Center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,495
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,900
$309.9K
Cap Rate 7%
$221,357
$221.4K
Cap Rate 9%
$172,167
$172.2K
Market Conditions
NOI Build-Up for 857 SF
Gross rent
$25.2K $29.40/SF
− Vacancy
−$4.5K −$5.29/SF
EGI
$20.7K $24.11/SF
− OpEx
−$5.2K −$6.03/SF
NOI
$15.5K $18.08/SF
Area
Contra Costa County, CA
Vacancy
18.00%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,900
Cap Rate 7%
$221,357
Cap Rate 9%
$172,167
Alternative Uses
Best Use
Office B
$221.4K
$193.7K – $258.3K
NOI $15,495 @ 7.0% cap · market cap 6.20%
Second Best
Healthcare Medical
$181.5K
$158.8K – $211.7K
NOI $12,703 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$323.9K
$283.5K – $377.9K
NOI $22,676 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
2,546
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 94582, CA
49,311
Population
16,531
Households
3
Avg Household Size
39
Median Age
77%
College-Educated
97%
High-School Grad
13.4 sq mi
ZIP Area
3,680
Density / Sq Mi
$211,159
Median Household Income
$114,953
Median Earnings
$2,880
Median Rent
$1,543,800
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured with exam rooms, consult rooms, and waiting areas near San Ramon Regional Medical Center.
Where is this medical office space located?
The property is located at 5601 Norris Canyon Rd San Ramon, CA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two medical office condo suites totaling 857 square feet; Located within a 30,000 SF medical building; Steps away from San Ramon Regional Medical Center and the Outpatient Surgery Center
