$15,000,000
720 Paularino Avenue
Costa Mesa, CA 92626
1981
Year Built
Orange
County
SpecialPurpose
Property Type
About this home
Discover this Rare and Exceptional Two-Story Medical and Surgical Office Building nestled in the heart of Costa Mesa! It's the ONLY Commercial Building that has been APPROVED for Medical and Surgical uses for sale on the market in Orange County! The owner spent over 5 million to Completely Renovate the inside and outside in the Year of 2022 using High-End materials. The Subterranean Parking was also Leveled Up to meet the unique requirements of Contemporary Medical Practices. This building features an unparalleled blend of Elegance and Functionality! Each space has been Meticulously Crafted with Designer Touches that elevate Every Corner! Marble Flooring, Custom Designed Walls and Ceilings throughout! The property showcases a range of Modern Amenities as well, such as Elevators, Wheelchair Accessibility, Abundant Free Parking on the Ground Level and Two Sub-Ground Levels, making it fully ADA Compliant! This is a Sale-Leaseback deal which has steady cash flow with the flexibility to occupy or lease at Market Rent for Maximum Investment Potential. The building currently has the major Long-Term Tenant, signed a 5-Year NNN Lease and two 5-Year Options with 3% Annual Increases. The Tenant is the well-known "Wave Plastic Surgery & Aesthetic Laser Center" and the "Costa Mesa Surgery Center", who occupy 82% of the whole building. Wave owns 5 Branches spreading in San Francisco, West LA, Arcadia, Rowland Heights, and Costa Mesa. The rest of the 18% Leasable Spaces can be either for owner-using or leasing to Multiple Tenants for other business. This building is definitely in a Highly Sought-After Area with close proximity to Major Shopping Centers such as South Coast Plaza, featuring world-class retail, dining, and entertainment. It is also close to Hotels, Hospitals, John Wayne Airport and easy access to Freeways. It truly represents the workstyle of Unmatched Sophistication and Charm!!! OM will be provided upon signing the Confidentiality Agreement. Video link of the building: https://vimeo.com/1064499312/2a2f67a1d9?ts=0&share=copy.
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Mortgage Estimate
$79,836/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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