Urgent Care NNN
For Sale
Contact for pricing
285 Mercey Springs Road A, Los Banos, CA 93635
Urgent care facility with dedicated parking in a retail plaza, secured by an NNN lease with extended term remaining.
Property Size4,944 SF
Price / SF$202.27
Days on Market157
Property Features for 285 Mercey Springs Road A
General Information
Standard status
Active
Size
4,944 SF
Total Parking Spaces
100
Property subtype
Special Purpose
Occupancy
100%
Site & Location
Traffic Count
15,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
2002
Tenancy
Single
Listing Agency:
CENTURY 21 Select Real Estate, Inc.
Listed By:
Geneva Brett · License #CA
(209) 587-0573
Source:
Crexi
Added: Apr 2
Changed: Sep 4
Last Checked: Sep 4 at 8:33PM
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 CENTURY 21 Select Real Estate, Inc.
Investment Insights
Based on property information with market context.
This property is a medical facility operated as an urgent care center. The offering is structured as an NNN investment, and the tenant has maintained 0 vacancy for over twenty years. The current lease has almost ten years remaining, along with a five-year renewal option.
The facility is located in Premier Cinemas Plaza at 285 Mercey Springs Road A in Los Banos, California. Public remarks indicate approximately 12,000 to 15,000 vehicles pass by daily, and the property is listed as being less than 1 mile from SR-152. Dedicated parking is available on-site, and the plaza provides more than 100 parking stalls.
This is a dedicated urgent care building within an established retail center environment, with NNN lease terms in place to support long-term occupancy.
The facility is located in Premier Cinemas Plaza at 285 Mercey Springs Road A in Los Banos, California. Public remarks indicate approximately 12,000 to 15,000 vehicles pass by daily, and the property is listed as being less than 1 mile from SR-152. Dedicated parking is available on-site, and the plaza provides more than 100 parking stalls.
This is a dedicated urgent care building within an established retail center environment, with NNN lease terms in place to support long-term occupancy.
Key Highlights
- Urgent care facility built in 2002 in Premier Cinemas Plaza
- NNN lease with 0 vacancy reported over 20+ years
- Lease term includes almost 10 years remaining plus a 5‑year renewal option
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,527,100
$1.5M
Cap Rate 7%
$1,090,786
$1.1M
Cap Rate 9%
$848,389
$848.4K
Market Conditions
NOI Build-Up for 4,944 SF
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.
Gross rent
$148.3K $30.00/SF
− Vacancy
−$21.1K −$4.26/SF
EGI
$127.3K $25.74/SF
− OpEx
−$50.9K −$10.30/SF
NOI
$76.4K $15.44/SF
Area
Merced County, CA
Vacancy
14.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,527,100
Cap Rate 7%
$1,090,786
Cap Rate 9%
$848,389
Alternative Uses
Best Use
Healthcare Medical
$1.09M
$954.4K – $1.27M
NOI $76,355 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 93635, CA
48,510
Population
14,835
Households
3.3
Avg Household Size
32
Median Age
13%
College-Educated
71%
High-School Grad
390.7 sq mi
ZIP Area
124
Density / Sq Mi
$70,666
Median Household Income
$38,237
Median Earnings
$1,505
Median Rent
$423,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Urgent care facility with dedicated parking in a retail plaza, secured by an NNN lease with extended term remaining.
Where is this medical center located?
The property is located at 285 Mercey Springs Road A Los Banos, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Urgent care facility built in 2002 in Premier Cinemas Plaza; NNN lease with 0 vacancy reported over 20+ years; Lease term includes almost 10 years remaining plus a 5‑year renewal option
