THE OFFERING:
Owner-Occupant Medical-Professional Office Building with In-Place Income
Urban West Ventures, as exclusive listing broker, is pleased to present to business owners, entrepreneurs & investors the opportunity to acquire an Owner-Occupiable Medical-Professional Office Building perched high atop El Camino Real providing incredible Cali sunsets & Pacific Ocean views. 2170 S El Camino Real, Oceanside, CA 92054 (the “Property”), is a 9,728 Sq Ft two-story office building with a strong tenant mix consisting of a Non-Surgical Orthopedic Group, Chiropractor, CPA, Insurance, Notary & multiple Attorneys. Approximately 5,500 Sq Ft can be deliverable at Close of Escrow to an incoming Owner-Occupant.
Advantageously located just north of CA-78 Freeway on S. El Camino Real, the Property provides excellent accessibility to all of North County San Diego with a short ½ mile drive to CA-78 Freeway. From CA-78, Owners & Tenants access San Diego County’s two major N/S vehicular arteries with ease. Interstate 5 (N/S coastal artery connecting Los Angeles-San Diego-Mexico) is a short westerly drive 1.5 miles to access the I-5 onramp, while Interstate 15 (N/S inland artery connecting San Diego to the Inland Empire) is a direct eastern shot approximately 14.9 miles to I-15 onramp. Additionally, El Camino Real is NCSD’s largest non-Interstate N/S vehicular artery traveling through Oceanside, Carlsbad, Encinitas, Cardiff, Rancho Santa Fe & into Del Mar.
Surrounded by many popular chain restaurants (Starbuck’s, The Habit Burger, Del Taco, Chiptole, Texas Roadhouse, Buffalo Wild Wings), grocers (Trader Joe’s, Winco Foods) big box retailers (Target, Michael’s, LA Fitness), and public transit options (North County Sprinter/train & Breeze/bus), the Property’s location & value are both highly insulated. Other nearby Local Attractions include neighboring El Camino Country Club, SoCal Sports Complex, William Wagner Aquatic Center, Oceanside Municipal Airport, the famous Oceanside Pier & Oceanside Harbor as well as the newly constructed Frontwave Arena, home to MASL San Diego Sockers & NBA G League San Diego Clippers.
A new Owner-Occupier will enjoy the investment stability of a diversified Rent Roll generating approximately $209,893 in Gross Annual Rents and extremely low operational costs due to a 35 KW Solar Power System completely eliminating any SDGE utility bill. The building itself offers three (3) EV Charging Stations, VOIP telephone service and high-speed internet service via Cox. With the correct amount of debt levered on the building, a new Owner will enjoy the tax benefits of CRE ownership with little-to-no annual out-of-pocket cash outlay towards the ownership & carrying of the asset.
We encourage all qualified business owners, entrepreneurs & investors to review this extremely attractive CRE investment opportunity.
The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Urban West Ventures has not and will not verify any of this information, nor Urban West Ventures conducted any investigation regarding these matters. Urban West Ventures makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.
As the Buyer of real estate, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this opportunity. Urban West Ventures expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance or value of this property. The value of the property to you depends on factors that should be evaluated by you and your tax, financial, consultants and legal advisors. Buyer and Buyer’s tax, financial, legal, consultants and all advisors should conduct a careful, independent investigation of any property to determine to your satisfaction the suitability of the property for your needs.
Like all real estate, this property carries significant risks. Buyer and Buyer’s consultants, legal and financial advisors must request and carefully review all legal and documents related to the property. Any info provided including fees and costs are not guaranteed and should be verified by Buyer. These figures are subject to change at any time based on market, economic, environmental or other conditions. Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any potential development or use of the property.
By accepting this Marketing Brochure you agree to release Urban West Ventures and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.
Market/Submarket: North County San Diego/Oceanside
Submarket Cluster: SR-78 Corridor
Property Type: Office Building (Medical-Professional)
Property Name: 2170 Professional Offices
APN: 165-012-09-00
Address: 2170 S El Camino Real, Oceanside, CA 92054
Zoning: Commercial Professional
Building RBA: 9,728 Sq Ft
Lot Size: 21,777 Sq Ft (0.50 AC)
Floor Area Ratio: 0.45
Construction: Wood Frame & Masonry
Year Built/Renovated: 1974 / 2018 / 2023
Frontage: 110’ on S. El Camino Real
Elevator Served: No
Solar Power: 35 KW - Building Pays No SDGE Bill (Receives Credit Annually)
Internet / Phone: Cox High-Speed / VOIP
Parking: Free Surface Lot – 32 Spaces
Amenities: Ocean Views / EV Charging Stations
List Price: $2,985,000 ($307/SF)
INVESTMENT OVERVIEW:
- Reduced List Price: $2,985,000 ($307/Sq Ft)
- Gross Rental Income: $209,893
- NOI: $156,750
- Current Cap Rate: 5.25%
- Stabilized NOI: $217,034
- Stabilized Cap Rate: 6.74%
- AVG Cap Rate (10-Yr Hold): 7.58%
- Term Cap Rate (10-Yr Hold): 8.79%
INVESTMENT HIGHLIGHTS:
- Ideal 1031 Replacement Property
- Well-Insulated Investment – Geographically & Demographically
- Attractive Value-Add Opportunity
- Diverse Tenant Mix w/ Automatic-Staggered Renewals & Escalations
- Long-Term Medical Group Anchor Tenant
- Controllably Low Operating Expenses due to 35 KW Solar Power System
- Small Office Footprints Allow for Ease of Lease-Up & $/SF Premiums
- CP Zoning Permits Medical Tenancy ‘By-Right’ (Tenants to Confirm with City)
MARKET FUNDAMENTALSOCEANSIDE OFFICE SUBMARKET
- Inventory Sq Ft: 1,900,000 Sq Ft
- Vacancy Rate: 7.9%
- Under Construction: 0 Sq Ft
- Market Rent: $31.00/SF/YR ($2.58/SF/MO)
- 12 Month Sales Volume: $16.7M (4 buildings)
- AVG Market Sales Price: $4.175M
2170 S EL CAMINO REAL - RENT ROLL
1. 3998 Vista Way, Oceanside, CA 92056
Sale Price: $12,500,000
Close of Escrow: OCT 2023
Asset Type: Multi-Tenant Medical/ Professional Office Building
Rentable SF: 37,488 SF
$/SF: $333/SF
Year Built: 1959
Notes: Purchased by Owner-Occupier Medical Group TrueCare
2. 2424 Vista Way, Oceanside, CA 92054
Sale Price: $5,700,000
Close of Escrow: MAY 2023
Asset Type: Multi-Tenant Professional/Medical Office Building
Rentable SF: 31,388 SF
$/SF: $182/SF
Year Built: 1987
Notes: Professional Tenancy with Under-Market Rents
3. 2111 S El Camino Real, Oceanside, CA 92054
Sale Price: $2,910,000
Close of Escrow: MARCH 2023
Asset Type: Multi-Tenant Medical/Professional Office Building
Rentable SF: 10,538 SF
$/SF: $276/SF
Year Built: 2011
Notes: 100% Occupied Office Building – Leased
Investment
4. 1241 Carlsbad Village Drive, Carlsbad, CA 92008
Sale Price: $2,730,000
Close of Escrow: NOV 2022
Asset Type: Multi-Tenant Professional/Medical Office Building
Rentable SF: 6,288 SF
$/SF: $434/SF
Year Built: 1978
Notes: High Vacancy Multi-Tenant Office Building with Deferred Maintenance
5. 161 Thunder Drive, Vista, CA 92083
Sale Price: $8,300,000
Close of Escrow: DEC 2021
Asset Type: Multi-Tenant Medical/Professional Office Building
Rentable SF: 33,914 SF
$/SF: $245/SF
Year Built: 1980
Notes: High Vacancy Multi-Tenant Medical Building with Deferred Maintenance
SALE COMPS
SALE COMPS – ON-MARKET
1. 3300 Vista Way, Oceanside, CA
List Price: $8,391,513
Asset Type: Medical-Office Building
Rentable SF: 13,036 SF
$/SF: $644/SF
Year Built: 1994
Leased: 100%
Notes: Fully Leased NNN Investment –Long-Term Stabilized Medical Tenant
2. 5120-5122 Avenida Encinas, Carlsbad, CA
List Price: $6,500,000
Asset Type: Owner-Occupant Professional
Office Buildings
Rentable SF: 7,059 SF
$/SF: $466/SF
Year Built: 1982/1982
Leased: 0%
Notes: Vacant – Owner-Occupant Opportunity
3. 5055 Avenida Encinas, Carlsbad, CA
List Price: $8,500,000
Asset Type: Multi-Tenant Professional Office Building
Rentable SF: 20,375 SF
$/SF: $417/SF
Year Built: 1984
Leased: 93%
Notes: Multi-Tenant Leased Office Building
4. 3176 Lionshead Ave, Carlsbad, CA
List Price: $4,380,000
Asset Type: Professional/Creative Office Building
Rentable SF: 12,176 SF
$/SF: $360/SF
Year Built: 2007
Leased: 47.5%
Notes: Owner-Occupant or Investment Opportunity
5. 2764 Gateway Road, Carlsbad, CA
List Price: $2,599,978
Asset Type: Single-Tenant Professional Office Building
Rentable SF: 7,920 SF
$/SF: $328/SF
Year Built: 2007
Leased: 100%
Notes: Leased Investment Opportunity
6. 6120 Paseo Del Norte, Carlsbad, CA
List Price: $10,850,000
Asset Type: Multi-Tenant Professional Office Building
Rentable SF: 34,668 SF
$/SF: $313/SF
Year Built: 1982
Leased: 99.4%
Notes: Stabilized Multi-Tenant Investment Opportunity
7. 5938 Priestly Drive, Carlsbad, CA
List Price: $4,595,000
Asset Type: Multi-Tenant Professional Office Building
Rentable SF: 17,089 SF
$/SF: $269/SF
Year Built: 2001
Leased: 46.7%
Notes: Owner-Occupant or Investment Opportunity
8. 5838 Edison Place, Carlsbad, CA
List Price: $5,000,000
Asset Type: Multi-Tenant Professional Office Building
Rentable SF: 19,143 SF
$/SF: $261/SF
Year Built: 1990
Leased: 0%
Notes: Vacant Building - Owner-Occupant or Investment Opportunity
9. 5860 Owens Ave, Carlsbad, CA
List Price: $4,415,385
Asset Type: Multi-Tenant Professional Office Building
Rentable SF: 17,054 SF
$/SF: $259/SF
Year Built: 2001
Leased: 31.5%
Notes: Owner-Occupant or Investment Opportunity
10. 3520 College Blvd, Oceanside, CA
List Price: $1,876,000
Asset Type: Multi-Tenant Professional Office Building
Rentable SF: 9,822 SF
$/SF: $191/SF
Year Built: 1981
Leased: 55.8%
Notes: Insufficient Parking – Class ‘C’ Building –Owner Occupant or Investment
2170 S EL CAMINO REAL, OCEANSIDE, CA 92054 FLOOR PLANS
First Level Floor Plan
Camino Real Office Space 2170 El Camino Real Oceanside, California 92054
Second Level Floor Plan
Camino Real Office Space 2170 El Camino Real Oceanside, California 92054
LOCATION OVERVIEW TRAVEL TIMES
Drive Proximity (Oceanside)
- iFly Indoor Skydiving – 0.7 miles
- The Shoppes at Carlsbad – 0.7 miles
- El Camino Country Club – 0.9 miles
- The Shoppes at Carlsbad – 1.3 miles
- South “O” – 2.6 miles
- Tri-City Medical Center – 3.0 miles
- MiraCosta College – 3.0 miles
- SoCal Sports Complex – 3.1 miles
- Goat Hill Golf Course – 3.1 miles
- Frontwave Arena – 3.4 miles
- Oceanside Municipal Airport – 3.6 miles
- Oceanside Pier/Beaches – 5.4 miles
- Oceanside Harbor – 6.0 miles
- Palomar Airport – 6.5 miles
Drive Proximity (Major Vehicular Arteries & Highways)
- CA-78 Access (E/W) – 0.5 miles
- I-5 Access (N/S) – 2 miles
- Palomar Airport Rd (E/W) – 6.3 miles
- I-15 Access (N/S) – 15.4 miles
Drive Time Proximity (Surrounding Areas)
- Carlsbad Village – 2.9 miles
- Vista Village – 5.3 miles
- Camp Pendleton – 8.0 miles
- La Costa – 9.3 miles
- Lake San Marcos – 10.3 miles
- Encinitas – 13.0 miles
- Del Mar Racetrack – 18.0 miles
- Torrey Pines – 25.5 miles
- San Clemente/Orange County – 25.8 miles
- San Diego (Downtown) – 37.3 miles
- Mexico-San Diego Border – 51.3 miles
- Irvine – 52 miles
- Los Angeles – 87.2 miles
OCEANSIDE - THE BEST OF NORTH COUNTY SAN DIEGO
Oceanside is the northernmost city in San Diego County, perfectly situated between SanDiego & Los Angeles. Together with Carlsbad to its south and Vista to its East, it forms a tri-city region & is bordered by water on three sides: the Pacific Ocean to the west, the San Luis Rey River along its north, and the Buena Vista Lagoon situated on its southern border with Carlsbad.
This beach town with its laid-back vibe is known for its pristine 3.5 miles of beaches, iconic pier, and quaint harbor that allows for surfing, skateboarding and bike riding. Proud locals and year-round visitors flock to this coastal commercial district to enjoy year-round sun. This San Diego hotspot is recognized for its collaborative culture, energy, and flourishing food and brew scene, with new restaurants and tasting rooms popping up with more frequency.
Oceanside also boasts a dynamic and robust business climate. It has always been home to top manufacturing, distribution, tourism and agricultural companies, but in recent years, biotech and life sciences are among the area’s fastest growing business sectors. Coastal Oceanside has become a hot-spot for farm-to-table dining experiences, along with new breweries, cafes, boutiques, coffee shops, surf shops and skate shops.
Oceanside is having a resurgence thanks to new development that’s happened over the past few years. The growth has brought in new beachfront hotels like the Mission Pacific Hotel & The Seabird Resort, eateries such as Craft Coast Beer & Tacos and The Plot, coffee roasteries such as Vigilante Coffee, an influx of retail shops like Rais Case and Brixton as well as newly constructed Frontwave Arena.
