Free-Standing Medical Office
For Sale
$2,280,000
432 S Mill Street, Tehachapi, CA 93561
Fully leased medical office building with ample parking and major interior and exterior renovations completed.
Property Size7,864 SF
Lot Size0.60 Acres
Price / SF$289.93
Days on Market109
Property Features for 432 S Mill Street
General Information
Standard status
Active
Size
7,864 SF
Lot size
0.60 Acres
Property subtype
General Commercial
Occupancy
100%
Building Details
Year Built
1974
Tenancy
Single
Listing Agency:
(661) 809-5169
Listed By:
Miramar International Calloway
(661) 809-5169
Source:
Xome
Added: Apr 13
Changed: Jul 10
Last Checked: Jul 30 at 3:12AM
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 Miramar International Calloway
Investment Insights
Based on property information with market context.
This free-standing medical office building totals 7,864 SF and is situated on approximately 0.6 acres. The property includes ample parking with a separate APN. The building is fully leased under a long-term 11-year lease structure with extensions structured as 5 + 3 + 3. Current reported income is $13,400 per month gross, with approximately $10,800 per month net, reflecting in-place cash flow.
The asset is located at 432 S Mill Street in Tehachapi, CA 93561. The offering is positioned as an income-producing healthcare property with a stable tenant in a well-established national behavioral health organization, with the lease in effect and the building secured by the long-term term structure.
For buyers seeking a healthcare real estate investment with active medical-office use and a turnkey, occupied setup, this property provides a conservative, operationally straightforward profile. The recent capital improvements totaling approximately $250,000 address both interior finishes and exterior presentation, including renovation of six restrooms, electrical system upgrades, new carpet throughout, interior and exterior repaint, and updated landscaping. Major systems are described as being in excellent condition, which can help reduce near-term capital planning needs.
The asset is located at 432 S Mill Street in Tehachapi, CA 93561. The offering is positioned as an income-producing healthcare property with a stable tenant in a well-established national behavioral health organization, with the lease in effect and the building secured by the long-term term structure.
For buyers seeking a healthcare real estate investment with active medical-office use and a turnkey, occupied setup, this property provides a conservative, operationally straightforward profile. The recent capital improvements totaling approximately $250,000 address both interior finishes and exterior presentation, including renovation of six restrooms, electrical system upgrades, new carpet throughout, interior and exterior repaint, and updated landscaping. Major systems are described as being in excellent condition, which can help reduce near-term capital planning needs.
Key Highlights
- 7,864 SF free‑standing medical office building on 0.6 acres in Tehachapi
- Fully leased to a national behavioral health organization under a long‑term 11‑year lease (5 + 3 + 3)
- Ample parking available (separate APN)
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 | $136.8k | $17.40 |
| − Vacancy | −$16.4k | −$2.08 |
| EGI | $120.5k | $15.32 |
| − OpEx | −$30.1k | −$3.83 |
| NOI | $90.4k | $11.49 |
7,864 SF · lease $17.40/SF/yr · vacancy 11.95% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.51M
NOI $90,361 @ 7.0% cap · market cap 3.96%
Second Best
Healthcare Medical
$890.3K
$779.0K – $1.04M
NOI $62,318 @ 7.0% cap · market cap 2.73%
Theoretical Best
Warehouse
$1.68M
$1.47M – $1.96M
NOI $117,598 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 93561, CA
31,091
Population
13,876
Households
2.2
Avg Household Size
42
Median Age
28%
College-Educated
92%
High-School Grad
301.8 sq mi
ZIP Area
103
Density / Sq Mi
$86,149
Median Household Income
$52,088
Median Earnings
$1,299
Median Rent
$377,400
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Fully leased medical office building with ample parking and major interior and exterior renovations completed.
Where is this medical center located?
The property is located at 432 S Mill Street Tehachapi, CA.
What is the asking price?
The asking price for this property is $2,280,000.
What are key features of this property?
This property features: 7,864 SF free‑standing medical office building on 0.6 acres in Tehachapi; Fully leased to a national behavioral health organization under a long‑term 11‑year lease (5 + 3 + 3); Ample parking available (separate APN)
