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5.06 acres in San Bernardino County, California

22230 Ottawa Road, Apple Valley, California 92308 - San Bernardino County
$4,490,000 5.06 Acres
Bedroom Bathrooms 43050 Sq.Ft.
Property ID 2946253

Description

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 today39 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 + Add regional increase of 8% for 1.833 years = $5,167,959.00!

Directions

I15 East to Navajo Rd; North to Ottawa Rd; East to PIQ on NE Corner of Ottawa & Nomwaket. Adjacent Parcel faces Nomwaket directly behind 22230 Ottawa Rd.

Tax Data (Show Tax Data)

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GARY BARNES

CALIFORNIA LIFE PROPERTIES INC

8790 SVL BOX
VICTORVILLE, CA

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