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    2140 Grand Ave Chino Hills, CA 91709

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    For Sale
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    Medical Office Building, Value-Add Opportunity

    Property size:
    40,041 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 40,041 square foot Class B medical office building in Chino Hills, CA, presents a compelling value-add investment opportunity. Situated on a 2.04-acre lot at the highly visible northeast corner of Grand Avenue and Chino Hills Parkway, the property boasts ±46,500 cars passing daily. The building, constructed in 2004, is a single, two-story structure with 5 parking spaces per 1,000 square feet and is currently 79.8% occupied by 12 tenants, including a major anchor tenant. This anchor tenant, Pomona Valley Hospital Medical Center (PVHMC), a 437-bed acute care hospital, occupies approximately 48% of the rentable space under a new 7-year NNN lease with 2.5% annual rent increases through December 31, 2029. PVHMC's strong financial history further enhances the property's stability. The property benefits from a strong location within a densely populated area, with approximately 275,000 people within a 5-mile radius, and a high concentration of residents aged 65 and older. Average household incomes within a one-mile radius are $154,000, and median home values are $942,000. The property's location provides convenient access to major freeways, including State Highway 71, Interstates 10 and 60, and Highway 91, serving Los Angeles, Orange, and San Bernardino counties. The weighted average lease term (WALT) is approximately 4.1 years, offering a stable cash flow with significant upside potential through lease-up of vacant space and market rent adjustments. The property is zoned PD. APN: 1024-511-02-0000.

    Property Features for 2140 Grand Ave

    General Information

    Property type
    Medical offices
    Square Feet
    40,041 SF
    Class
    B
    Lot Size
    88,862 SF

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • 79.8% leased medical office building (MOB) anchored by Pomona Valley Hospital Medical Center (PVHMC).
    • PVHMC, a 437‑bed acute care hospital, recently signed a new 7‑year NNN lease (expiring 12/31/2029) with 2.5% annual rent increases, occupying ~48% of the building.
    • High‑credit anchor tenant (previously rated 'BBB' by Standard & Poor's) with ~$650M in annual net patient revenue (as of April 2021).
    • Stable cash flow with upside potential; 12 tenants, weighted average lease term (WALT) of ~4.1 years, and opportunities to increase NOI through market rent adjustments and lease‑up of vacant space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chino Hills Professional ... Pharmacy Dr. Melba Mayes, ... Pediatric Dentist Garibyan Shakeh DDS Dentist Dr. Christine Sie, ... Dentist Pediatric Dentistry of Chino ... Dentist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chino Hills
    County
    San Bernardino
    State
    California
    Longitude
    -117.7589102
    Latitude
    33.9969333

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    FAQs

    What type of property is this?
    Medical office - Medical Office Building, Value-Add Opportunity
    Where is this medical office located?
    The property is located at 2140 Grand Ave Chino Hills, CA.
    What are key features of this property?
    This property features: 79.8% leased medical office building (MOB) anchored by Pomona Valley Hospital Medical Center (PVHMC).; PVHMC, a 437-bed acute care hospital, recently signed a new 7-year NNN lease (expiring 12/31/2029) with 2.5% annual rent increases, occupying ~48% of the building.; High-credit anchor tenant (previously rated 'BBB' by Standard & Poor's) with ~$650M in annual net patient revenue (as of April 2021).
    Request Owner's contact information
    2140 Grand Ave Chino Hills, CA 91709
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    Chino Hills, CA 91709
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2140 Grand Ave Chino Hills, CA 91709
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