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Listed by Phillip L. Fair • Corcoran Icon Properties
$ 2,700,000
Est. payment /mo
Active
20265 Lake Chabot Castro Valley, ME 04546
5,162 SqFt
UPDATED:
11/19/2024 09:49 AM
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 5,162 sqft
Price per Sqft $523
MLS Listing ID 41075776
HOA Y/N No
Originating Board Bridge AOR
Year Built 1963
Lot Size 0.494 Acres
Property Description
Long time Dental Office with current lease expiration of 1/31/29. Tenant has 3 consecutive options to extend the term of the lease, each for a period of 5 yrs. Annual CPI Increase occurs on May first annually. Modified Gross Lease Seller pays the following: $4,438.64 property tax, $10,000 plus or minus Property/Casualty/Earthquake, Average maintenance for 3 years is: $3,000. See Lease for other details. 25 Parking spots. Capital improvements $18,700 Roof 2021, $4,632 Fence $4,632 2022, Alarm system $2,700. Performance of existing lease applying average 2.5 CPI increase to lease per year starting 5/1/2025 Cap rates (7.3) 5/1/26 (7.5) 5/1/27 (7.7) / 5/1/28 (7.9)5/1/29 (8.1) Other Features of Lease: Tenant has $500 deductible for maintenance, Holdover 125%. Tenants must notify owner 180 advance to extend lease. FOR SALE | Presenting a prime commercial property located at 20265 Lake Chabot Road in Castro Valley, CA. This 5,162 square foot building offers an exceptional investment opportunity in a thriving East Bay community. Strategically positioned in Castro Valley, this property is currently home to Creative Dimensions in Dentistry, a well-established dental practice serving the area since 1966 and has occupied this office since 1970. Additional Info in Disclosure Package
Location
State ME
County Alameda
Interior
Cooling Area AC, Room Air, Wall/Window Unit(s)
Flooring Linoleum, Carpet
Fireplace No
Exterior
Handicap Access Customized Wheelchair Accessible
Building
Lot Description Freeway Nearby, Hospital Nearby, Neighborhood Commercial, Restaurant Nearby, Shopping Center Nearby
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