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Totaling 70,844 SF, the institutional-quality office and retail buildings are 69% lease and provide the opportunity to acquire a mixed use campus in a strategic, affluent location with significant upside potential. Upon stabilization the cap rate is estimated to be 8.41% with 5% vacancy. The site is situated along the I-10 on 7.68 acres with unparalleled freeway visibility, signage and access via the Ford Street on and off ramps. Minutes from Downtown Redlands, Redlands County Club, Redlands Community Hospital, Loma Linda University and 25 Minutes from Ontario International Airport.
This large facility has a well laid out assortment of rooms and service areas that include an enclosed yard with a ground-level roll-up loading door, large front parking lot, multiple offices, conference room, administrative service areas, kitchen, offices and restroom facilities (see attached photos of site plan and floor plan). Currently the property is being used as an effective community service center that is providing highly needed free services for members of the City of Redlands and surrounding areas. The opportunity to purchase this property can be for an owner-user purpose or a sale-leaseback investment opportunity. Either way, the buyer will be indirectly helping the Blessing Center to continue to provide the much-needed assistance of free food, clothing, dental, minor medical, and job placement services to members of the community that are in need. Zoning is Service Commercial; Downtown Redlands Specific Plan #45.
±2,412 square foot building, ±6,534 square foot lot, current law office/former dental office, 4-5 private parking spaces, ample public parking
+/- 1,570 SF Office, Medical, Dental building located on Barton Road, Redlands. The office is part of a larger +/- 3,712 SF freestanding building. All newer construction, in-suite restroom, solid core wood doors, excellent exterior and interior finishes with 4/1,000 parking.
Price Reduction! This is a rare opportunity to own a piece of Redlands History. The assets was built in the early 1900' s and many of the Victorian architectural detail remain. The interior has been update with modern interior improvements. This property is a Turn-Key opportunity for any office user looking to occupy in Historic Downtown Redlands. The property has onsite parking at the rear of the property and Olive Avenue signage that is highly visible
Progressive Real Estate Partners is proud to present the opportunity to acquire Tennessee Plaza, a twenty-one tenant business center located in the high income, established city of Redlands, CA. The subject property is situated directly South of the 10 FWY amongst many of the City' s most established businesses, including ESRI' s Global Headquarters. The center offers immediate upside potential through below market lease rates and the opportunity to convert the leases to triple-net. With no individual tenant representing over 10.52% of the center' s gross income, the subject property' s cash flow is well diversified. The center also offers strong historical occupancy with 50% of the tenants having occupied the property since prior to the 2008 recession.
Prices for Office Condos are "AS IS". The building is 11,443 sq ft for 1,900,000. The association fee is 18 cents per square foot per month. The buildings have excellent sound acoustics, HVAC roof mounted units, 200-400 amps of expanded power, 9'-10' ceiling heights, fiber optics and internet ready. Condos may be purchased separately as follows: Unit 11A - 2,950 sq ft, Unit 11B - 2,965 sq ft for, Unit 11C - 2,709 sq ft and Unit 11D - 2,819 sq ft.
Investment Opportunity Sale/Leaseback ± 2,632 SF
Investment Opportunity Sale/Leaseback ± 3760 SF