22230 Ottawa Road, Apple Valley, CA 92308

$4,490,000 Approx. USD 0 beds, 0 baths
43,050 sqft

Agent Remarks

An Investor's Delight! 30-year NNN lease w/option to purchase ($6.5M beginning on the 6th year or July 01, 2020). The tenant, a Christian School founded in 1976, continues today—39 years! The school comprises of Daycare, Preschool and K-12 grade students. Since 2014, student enrollments have increased and continues to climb with local and foreign exchange students. An investor with foreign contacts could further assist the tenant in increasing its foreign exchange student population. Doing so, reduces risk and increase monthly profits to $36,000.00 monthly, $432,000.00 yearly + future CPI increases. The building’s Oct 01, 2014’s estimated appraised value based on the completion of improvements of phase 2 (completed 1st Qtr. of 2015) documents $4,540,000.00. The appraisal calculated 42,750 SF though building plans indicate 43,050 SF or 300 SF additional x $106 SF (factor used) = $31,800.00 + the adjacent 1.515 acre vacant land at a value of $155,000.00 (included with purchase) brings the 2014 value to $4,726,800.00. Add 8% increase in 1-years property values for 1 year and 7 months (May 01, 2016) to arrive at $5,343,171.00 or, use your own valuation for offered price.

Listing Details

Property type: SPEC (Commercial)
Status: Active
MLS# EV15264813
List price is $4,490,000 Reduced by $498,000 on 5/18/2016
Beds: 0
Baths: 0
Built in 1989
43,050 sqft
5.05 acres
Lot size: 220196.000
County: San Bernardino
Zoning: C1
Heating description: Electric,Forced Air,Natural Gas,High Efficiency
MLS area: APPV - Apple Valley

Last Updated: 7/8/2016

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This listing belongs to the APPV - Apple Valley MLS area

The listing is zoned C1.
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Lat/Long: 34.494011, -117.178665.
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Listing Agent: GARY BARNES

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