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    721 River Dr Fort Bragg, CA 95437

    Sponsored
    For Sale
    $4,200,000

    High-yield, NNN-leased medical office

    Property size:
    12,147 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 12,147 square-foot medical office building in Fort Bragg, CA, is situated on a 0.98-acre parcel and boasts a strong, credit-rated tenant (Adventist Health) under a triple-net (NNN) lease with 7.1 years remaining. Built in 2005, the single-story building features 64 parking spaces, including ADA-compliant spots, and is equipped with individual PG&E smart meters, a fire sprinkler system, security controls, and a fire alarm system. The property is 100% occupied, with the tenant operating under a 15.5-year lease (commencing July 1, 2016, and expiring December 31, 2031), including four to five-year renewal options. Rent increases are tied to the CPI (2%-5%) every two years. The tenant is responsible for all operating expenses, repairs, and maintenance. The landlord is responsible for taxes, insurance, and management fees, all reimbursed by the tenant. The property benefits from a ground lease with 51 years remaining. The asking price is $4,200,000, representing a cap rate of 8.01% and a price per square foot of $345.76. The building's location adjacent to Adventist Health Mendocino Coast Hospital provides excellent visibility and accessibility. The property's current configuration includes ADA access, exam rooms, doctor's offices, nurses' stations, large waiting rooms/reception areas, and ADA-compliant restrooms. Specific amenities vary by suite.

    Property Features for 721 River Dr

    General Information

    Property type
    Medical offices
    Square Feet
    12,147 SF

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1

    HighLights

    • 12,147 SF medical office building in Fort Bragg, CA, on a 0.98‑acre lot, with a triple‑net (NNN) lease.
    • Strong credit tenant (Adventist Health, A- S&P rating) with a 7+ year lease term remaining, including renewal options.
    • Lease features CPI‑based rent increases (2%-5%) every two years.
    • Building features ADA access, exam rooms, doctor's offices, nurses' stations, and large waiting areas.
    • Excellent location adjacent to Adventist Health Mendocino Coast Hospital.
    Property Profile Location Intelligence

    Current Use by Public Records

    Douglas Lister Podiatrist Koehler Pamela Medical Clinic Dr. Jennifer B. ... Family Practice Physician Kirkman Jason H ... Internist Immediate Care: Adventist ... Medical Clinic

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Bragg
    County
    Mendocino
    State
    California
    Longitude
    -123.8021681
    Latitude
    39.4319274

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    FAQs

    What type of property is this?
    Medical office - High-yield, NNN-leased medical office
    Where is this medical office located?
    The property is located at 721 River Dr Fort Bragg, CA.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: 12,147 SF medical office building in Fort Bragg, CA, on a 0.98-acre lot, with a triple-net (NNN) lease.; Strong credit tenant (Adventist Health, A- S&P rating) with a 7+ year lease term remaining, including renewal options.; Lease features CPI-based rent increases (2%-5%) every two years.
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    721 River Dr Fort Bragg, CA 95437
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    Realmo Value Estimation

    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.

    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
    721 River Dr Fort Bragg, CA 95437
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