Available $25,000,000 - Office, Healthcare
Investment Offering & Highlights
- Absolute net lease for 20 years
- Zero Landlord responsibilities
- 2% annual rental increases that continue through the option periods
- Strategically located in dense residential area and close to Market Street
- Long established service that is a critical part of the city’s safety net delivery system that has been operating for 40 years
- Extremely high barriers to entry
- Strong demographics with over $110,000 average household income and population over 118,000 within 1 mile of the properties
Cushman & Wakefield is pleased to present two residential rehabilitation centers in San Francisco being offered on a long term sale-leaseback with a strong non-profit operator (HealthRIGHT 360) and below replacement cost. Located at 214 Haight Street, and 890 Hayes Street, close to Hayes Valley retail area, the iconic painted ladies and both the Twitter and Uber Headquarters.
214 Haight is an approx. 24,000 square foot two-story over partial daylight basement, masonry and concrete resident dependency rehabilitation facility with 64 beds and on-site parking spaces. The building was renovated in 1987. The exterior is a combination of painted masonry block and concrete siding. On-site parking is provided at a ratio of 0.4 stalls per 1,000 sq ft. The property is zoned for Residential Transit Oriented use.
890 Hayes Street is a 3-story over partial daylight basement of approximately 32,352 square feet, masonry and wood-frame resident dependency rehabilitation facility. It contains 115 beds. The building was constructed at the turn of the century and operated as a former Franciscan convent for many years prior to being repurposed into the current subject use. The exterior is a combination of brick, stucco and wood siding. It has been renovated and upgraded over the last several years. On-site parking is provided at a ratio of 0.4 stalls per 1,000 sq ft. The property is zoned for Residential Mixed Low-Density use.
Please use the following link to access the full offering memorandum for the single tenant San Francisco portfolio: https://www.crexi.com/properties/225361/california-2-core-san-francisco-opportunity