715 NORTH ARROWHEAD AVENUE
Investment Overview
Marcus & Millichap is pleased to present this exciting opportunity to purchase 715 North Arrowhead Ave, a 25,747 square foot medical and professional office building situated upon two parcels totaling 1.07 acres of land located in the densely populated metro of San Bernardino, CA. The Subject Property is currently 36.7% occupied by five medical and professional tenants. There are 19 remaining spaces currently vacant, split between the first and second floors, offering total square footage available of 16,293 square feet. 715 North Arrowhead Avenue is conveniently located just one mile from Interstate 215, three miles from San Bernardino International Airport, less than five miles from Downtown San Bernardino, and just a couple of miles from the very popular Hospitality Lane District, which features a great variety of retail, dining, hotel and nightlife establishments. The Hospitality Lane District is considered one of the most prosperous and developed areas in San Bernardino. Medical tenants and their patients also benefit from the close proximity to nearby hospitals including the Loma Linda University and Medical Center, Loma Linda VA, Arrowhead Regional Medical Center, and St. Bernardine Medical Center, all within a six-mile radius.
The recently renovated office building has been heavily improved with a newly asphalted parking lot, newly installed security fencing/gate surrounding the perimeter of the parking lot, newly painted exterior & interior finishes, new carpeting, and several new HVAC units. Additional features include new security cameras throughout the property and parking lot. These improvements have attracted a great deal of tenant interest and recent leasing activity has been very strong.
715 NORTH ARROWHEAD AVENUE
715 North Arrowhead Avenue, San Bernardino, CA 92401
Property Details
Offering Price:
Gross Leasable Area:
Price Per Square Foot:
Lot Size:
Year Built:
$3,500,000
+/- 25,747 Sq Ft
$135.94.
1.07 Acres
1986
Highlights
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Incredible Value-Add Opportunity with 37% Occupancy
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Recent Major Capital Expenditures in Renovation of the Building’s Interior and Exterior
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Building and Entire Parking Lot Secured with Gated Enclosures
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Below Market, Replaceable Rents in Place
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A Marked Increase in New Tenant Interest and Strong Leasing Activity Following Recent Renovations
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Just One Mile to Interstate 215 and Three Miles to San Bernardino International Airport
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Extremely Dense Residential Population Surrounding the Subject Property with 149,805 Residents in the Three Mile Radius