2299 River Oaks Blvd, Plumas Lake, CA 95961

Property Details for 2299 River Oaks Blvd

Year built

2024

Lot size

0.54 lot acres

Property type

Office Spaces

Property subtype

Medical Office Space

Description

This exceptional investment opportunity presents a brand-new, 6,260-square-foot Class A medical office building in Plumas Lake, California. Located at 2299 River Oaks Blvd, 95961, this single-tenant property boasts a 10-year net lease with Sutter Health, a financially strong tenant with an A+ credit rating (Fitch). The lease includes a 3% annual rent increase, ensuring consistent income growth, and attractive 2 x 7-year renewal options. The building, completed in 2024, sits on a 0.54-acre lot and enjoys 100% occupancy, generating a strong net operating income (NOI) of $262,920, representing a 6.00% cap rate. The property benefits from its strategic location within a burgeoning commercial corridor, adjacent to Highway 70 (21,300 VPD), and near established businesses like Walgreens and ARCO am/pm. The area is experiencing significant residential growth, with over 7,300 planned housing units in nearby developments, including Ross Ranch, Country Club Estates, and Bear River. This translates to a robust and affluent demographic profile, with average household incomes exceeding $151,500 within a 3-mile radius. The property's proximity to the Hard Rock Hotel & Casino and Toyota Amphitheatre further enhances its appeal. The asking price is $4,382,000. This is a rare opportunity to acquire a high-quality, stable, and appreciating asset in a rapidly expanding market. The tenant is responsible for operating expenses, including taxes, insurance, common area maintenance, and management fees, minimizing landlord responsibilities. Future development plans include a new Highway 65 interchange, providing even greater accessibility.

Location Insight

City

Plumas Lake

County

Yuba

State

California

Longitude

-121.549

Latitude

39.0208