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10875 Rancho RD Adelanto, CA 92301
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Key Details
Sold Price $5,000,000
Property Type Commercial
Sub Type MixedUse
Listing Status Sold
Purchase Type For Sale
MLS Listing ID JT19138241
Sold Date 10/09/19
HOA Y/N No
Year Built 2002
Lot Size 2.420 Acres
Property Sub-Type MixedUse
Property Description
The subject property is currently leased to the County of San Bernardino, Department of Public Social Services and is located at 10875 Rancho Road, Adelanto, San Bernardino County, California 92301.
The County of San Bernardino has continuously occupied the property since April 30, 2002. A new lease has been signed and starts effective July 1, 2019 through June 30, 2024. The County has the option to a “Second Extended Term” for an additional five (5) year term.
The subject property is a 2.42 acre parcel which is improved with a 20,800 square foot office building and is Assessor's Parcel number (APN) 0459-107-12.
The parcel has ample room for expansion of the existing building and falls into the Economic Opportunity Zone in the City of Adelanto, California.
The property is offered based upon a projected 8.5% CAP rate and annual rent increase of 3.5%.
Location
State CA
County San Bernardino
Area 699 - Not Defined
Interior
Fireplace No
Laundry None
Building
Lot Description Paved
Story 1
Water Public
Others
Tax ID 0459107120000
Acceptable Financing CashtoNewLoan, Item1031Exchange, Submit
Listing Terms CashtoNewLoan, Item1031Exchange, Submit
Financing Conventional
Special Listing Condition Standard
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Bought with Han Kim • Top Properties & Investment