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MULTI-TENANT INVESTMENT OFFERING
MELROSE DENTAL
ARTS PLAZA ± 4,974 Sq. Ft. Office Building
MARTIN F. ALFARO Associate Vice President [email protected] Direct (858) 598-2890 Lic. 01230078
OFFICE (619) 469-3600 10721 Treena St., Suite 200 San Diego, CA 92131 www.PacificCoastCommercial.com Lic. 01209930
The information contained herein has been given to us by the owner of the property or other sources we deem reliable, we have no reason to doubt Its accuracy, but we do not guarantee it. All information including zoning and use should be verified prior to purchase or lease
620 SOUTH MELROSE DRIVE VISTA, CA 92081
PROPERTY TYPE: Two-Story Multi-Tenant Office Building
BUILDING AREA: ± 4,974 Sq. Ft. Building
LAND AREA: ± 19,232 Sq. Ft. Lot
OFFERING PRICE: $1,600,000
ACTUALY CAP RATE: 5.1%
2020 PROJECTED CAP RATE:
5.6%
APN: 166-280-23-00
• Two-Story Building with Ground Level Entry on Both Floors
• Four (4) Tenants Currently Occupy the Building with Three (3) Long Term Leases
- 2 Established Dentists, Bail Bonds, Lawyer
• Large Lot with Ample Parking
• Great Proximity to Freeway 78 (+26,000 Vehicles Per Day)
• Easily Managed Property
• Amenity Rich Location Surrounded by Numerous Restaurants, Retail, & Service Providers
Pacific Coast Commercial | Tel (619) 469-3600 | 10721 Treena St., Ste. 200 | San Diego, CA 92131 | www.PacificCoastCommercial.com | Lic. # 01209930
14 MINUTES Carlsbad
20 MINUTES Encinitas
30 MINUTES
San Clemente
45 MINUTES
San Diego Airport
PROPERTY FEATURES
SURROUNDING AREA
620 S Melrose Dr
Pacific Coast Commercial | Tel (619) 469-3600 | 10721 Treena St., Ste. 200 | San Diego, CA 92131 | www.PacificCoastCommercial.com | Lic. # 01209930
VISTA COURT HOUSE
The City of Vista is a Charter Law city and was incorporated on January 28,
1963. Located just seven miles inland from the Pacific Ocean in northern
San Diego County, the City of Vista has a perfect mild Mediterranean
climate. Residents enjoy a wide range of year-round outdoor activities in a
setting of gentle rolling hills and pleasant rural surroundings. Vista is
approximately 19 square miles with a population of 87,896. The City of
Vista is dedicated to providing exceptional services to improving the quality
of life, and enhancing the uniqueness of the Vista community. Visit the
“City Overview” to learn more.
3 MILE 5 MILES 1 MILE
Population (2018) 143,461 276,862 13,527
Population (2023) 149,736 288,862 14,117
Total Households 47,274 95,289 4,759
Avg. Household Income $78,219 $86,788 $67,922
Median Home Value $444,324 $478,333 $473,861
Consumer Spending $1,330,315 $2,810,317 $124,699
# of Businesses 5,106 11,677 623
# of Employees 44,659 131,334 5,639
LOCATION
Pacific Coast Commercial | Tel (619) 469-3600 | 10721 Treena St., Ste. 200 | San Diego, CA 92131 | www.PacificCoastCommercial.com | Lic. # 01209930
MARTIN F. ALFARO Associate Vice President [email protected]
Direct (858) 598-2890
Lic. 01230078
OFFICE (619) 469-3600 10721 Treena St Suite 200
San Diego, CA 92131
www.PacificCoastCommercial.com
Lic. 01209930
The information contained herein has been given to us by the owner of the property or other sources we deem reliable, we have no reason to doubt Its accuracy, but we do not guarantee it. All information including zoning and use should be verified prior to purchase or lease
620 SOUTH MELROSE DRIVE VISTA, CALIFORNIA 92081
Dentist Have CPI Annual Increases Suite 100 & 101 on Modified Gross Lease Projected Based on 3% CPI and Converting Suite 100 to NNN
INCOME CURRENT PROJECTED
Rental Income $ 92,067 $ 97,932
CAM Reimbursement $ 30,876 $ 36,470
TOTAL INCOME $ 122,943 $ 134,402
EXPENSES
Property Taxes $ 18,400 $ 18,768
Property Insurance $ 2,959 $ 2,959
Water/Sewer $ 1,359 $ 1,359
Trash $ 2,559 $ 2,559
SDGE $ 2, 547 $ 2,547
Landscape $ 1,421 $ 1,421
Pest Service & Security $ 860 $ 860
Miscellaneous $ 7,136 $ 7,136
Management @ 5% $ 4,603 $ 4,897
Total Expenses $ 41,844 $ 42,506
Vacancy/Reserve @ 3% $ 2,762 $ 2,938
CAM Per Sq. Ft. w/ New Tax Basis $ 0.70 $ 0.71
NET OPERATING INCOME $ 81,098 $ 88,958
CAP RATE 5.1% 5.6%
