721 River Dr Fort Bragg, CA 95437

Property Details for 721 River Dr

Lot size

0.98 lot acres

Property type

Commercial real estate

APN

018-090-17-00

APU

180901700

Description

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.

Location Insight

City

Fort Bragg

County

Mendocino

State

California

Longitude

-123.802

Latitude

39.432

CBSA code

46380

CBSA name

UKIAH, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments