Commercial for Sale – 17130 Muskrat Ave, Adelanto, CA 92301, USA -001-11-30T00:00:00-08:00
Right now the two back units are leased at only $0.31 / SF well below market. Market rate for a marijuana building is between $2-3 / sqft. Even if the two back units are rented at $2 / sqft when they become vacant that will give $102,000 in income triple net
17130 Muskrat Ave, Adelanto, CA 92301, USA
$6,900,000 USD
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Address17130 Muskrat Avenue, Adelanto
Property SubtypeIndustrial
Price$6,900,000
Price Changed6.15% ($400,000, 126 days ago)
Property TypeCommercial Sale
Year Built2000
Bedrooms Total0
Living Area48,000 ft2
Listing IDOC17059289
StatusActive
Parcel Number0459671090000
Special ConditionsStandard
Days on Market270

Detailed Description: Right now the two back units are leased at only $0.31 / SF well below market. Market rate for a marijuana building is between $2-3 / sqft. Even if the two back units are rented at $2 / sqft when they become vacant that will give $102,000 in income triple net which will give $1,224,000 in annual gross rent income net. If someone obtains financing at 70% LTV at a 5% interest only interest rate your cash on cash return will be 47%. Down payment of $4.4 million or $2.7 million. Seller might be able to arrange a 2nd trust deed at $1.7 million at 13% interest rate which would give a new down payment of $2.7 million. Seller will carry a 1st at $2.5 million at 2.5% interest rate due upon vacancy of buildings C and D or Oct. 2020, whichever is soonest. Cap rate is 17.4% based off of down payment at $4.4 million. Property will be delivered with CUP. This building is zoned for most marijuana uses except dispensaries. There are four 12,000 square-foot buildings on 4.67 acres. The two back buildings C and D are occupied by a boat builder and the rent is just over 7500 a month for both buildings. There is a 70% chance the two back units will be vacated next summer. Worst case, the back units will be vacant Oct. 2017 when the lease is up. Buildings A and B are leased at 27,000 a month each. Building A is a 5 year lease with three 5 year options, this lease started August 2017. Building B is a 3 year lease with one 3 year option, This lease started July 2017.


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Address Information
Address17130 Muskrat Avenue, Adelanto
Street SuffixAvenue
CityAdelanto
Location (MLS Area)ADL – Adelanto
County Or ParishSan Bernardino
State or ProvinceCA
Postal Code92301
Postal Code Plus42473
CountryUS
Financial Information
Price Changed6.1538%
Previous Price$6,500,000
Price per Square Foot$143.75
Special ConditionsStandard
Tax Year2000
Full Descriptions
Parcel Number0459671090000
Detailed DescriptionRight now the two back units are leased at only $0.31 / SF well below market. Market rate for a marijuana building is between $2-3 / sqft. Even if the two back units are rented at $2 / sqft when they become vacant that will give $102,000 in income triple net which will give $1,224,000 in annual gross rent income net. If someone obtains financing at 70% LTV at a 5% interest only interest rate your cash on cash return will be 47%. Down payment of $4.4 million or $2.7 million. Seller might be able to arrange a 2nd trust deed at $1.7 million at 13% interest rate which would give a new down payment of $2.7 million. Seller will carry a 1st at $2.5 million at 2.5% interest rate due upon vacancy of buildings C and D or Oct. 2020, whichever is soonest. Cap rate is 17.4% based off of down payment at $4.4 million. Property will be delivered with CUP. This building is zoned for most marijuana uses except dispensaries. There are four 12,000 square-foot buildings on 4.67 acres. The two back buildings C and D are occupied by a boat builder and the rent is just over 7500 a month for both buildings. There is a 70% chance the two back units will be vacated next summer. Worst case, the back units will be vacant Oct. 2017 when the lease is up. Buildings A and B are leased at 27,000 a month each. Building A is a 5 year lease with three 5 year options, this lease started August 2017. Building B is a 3 year lease with one 3 year option, This lease started July 2017.
Water SourceSee Remarks
Property parameters
Year Built2000
Living Area (Sq.Ft.)48,000 ft2
Lot Size SourceAssessor
Water SourceSee Remarks
Land Usage DescriptionIndustrial
Property SubtypeIndustrial
Building StatusExisting
Industrial TypeManufacturing, Warehouse / Distribution, Warehouse / Office
Listed withChris Shepard (Chris Shepard, Broker)