All Forum Posts by: Alex Vidal

Hi, I sell medical properties nationwide and  it’ll say in the lease when the tenant needs to provide notice that they are executing their option. Typically it’s 6 months prior to their expiration date. With a dialysis tenant , if they’re planning on staying they’re going to exercise their option. They spend millions building out their suites and there’s no real incentive for them to move locations if that location is doing well.

On a side note, I wouldn’t go anywhere near a single tenant deal with sub-5 or even sub-10 years remaining. The risk is massive and you can’t get the phenomenal financing that makes these deals attractive if the tenant has less than 10 firm years remaining.

@Patrick Jenkins if you want your mind to be really blown, check out the prestigious CA markets - La Jolla, Beverly Hills, Newport Beach, Laguna Beach, Atherton, Belvedere etc. there are many houses that rent for $50K+ per month. In the Bay Area in the nice suburbs $5K+ per month is standard for a 3/2 normal 2K SF house. 

Just sent you a PM, I specialize in Medical Office sales nationally 

The Prop 10 polls aren’t looking good for the Yes vote. My company’s various business arms have been pumping millions into the No side and it’s working because the Yes votes have no real logical argument other than short term benefits for current renters. If you’re familiar with SF apts it’s a prime example of what happens when you get rent control - crappy buildings/obsolete units and insane market rents that are artificially inflated by rent control.

The thing to watch out for if you own commercial deals (5+ unit apts too), is on the 2020 ballot they’re going to have a vote to separate prop 13 so commercial deals are no longer protected. This bill is very likely to pass since the typical mom and pop owners who own smaller buildings/single family homes will still be protected.

The first post got messed up, here are the offering financials/deal points:

Price: $13,050,000

Cap Rate: 7%

Size: 35,116 SF

Price/SF: $372

Year Built: 1/1/2019 (Redeveloped)

Current Occupancy: 100%

Please email me if you would like to receive the full OM. The seller is a developer and he is encouraging any and all offers. 

FL, Florida, Orlando, medical office building, office building, southeast, 1031, private, exchange, stabilized, redevelopment, new construction, MOB, for sale.

   Lake Griffin Medical Office Building - FOR SALE

          Leesburg, FL (Orlando MSA) | Very Stable Tenancy

Offering Summary

Price: $13,050,000

Cap Rate: 7%

Size: 35,116 SF

Price/SF: $372

Year Built: 1/1/2019 (Redeveloped)

Current Occupancy: 100%

I encourage you to bring any and all offers - 1031 buyers, private buyers, multi-family, single family, office, medical office, southern california, southern ca, california, los angeles, palmdale, san diego, bay area, san francisco, riverside, inland empire, ontario

Please DM or email me for the full offering package:

Alex Vidal

Managing Partner

MOB Group

Marcus & Millichap

(415) 963-3000

[email protected]

License CA: 01910589

It’s definitely possible, but you either need  the ability/willingness to pay easily $1M+ If you want to be in a B or better neighborhood or you have to be fine with living in areas like Richmond or Oakland and rolling up your sleeves on a major value add deal. I’d definitely recommend employing a value add strategy regardless of which path you take.

I’m house hacking a 4plex in an A+ city in the East Bay, but those types deals are extremely rare and you have to be well connected to the brokerage community to have any shot at getting them.

Unless if the LL is getting the lease in place, you should also not assign much value to the vacated suite. If you have to do the work to get the lease in place, you should not also be paying for it. If the lease is delivered prior to the close of escrow by the LL/you are paying for the new lease, make sure to make it a condition of close that any TIs and leasing commissions are paid by the LL. This is standard for commercial sales where you are assigning a value to a lease.