31581 Canyon Estates DrLake Elsinore, CA 92532

This exceptional two-story, 10,000 square foot medical office building in Lake Elsinore, CA, presents a compelling value-add investment opportunity. Located at 31581 Canyon Estates Dr., this Class B property boasts a prime location with high visibility from the 15 freeway, offering panoramic community views. Currently 75% occupied by two credit-rated tenants under a Net Net + lease structure, the building features 40 parking spaces and sits on a 0.79-acre lot. Built in 2010 and renovated in 2011, the property offers modern medical facilities, including three units. The current Net Operating Income (NOI) is $154,000, projected to increase to $205,000. The asking price is $3,350,000, representing a current cap rate of 4.60% and a pro-forma cap rate of 6.12%. The property's strategic location within a thriving medical corridor, near other medical offices, a hotel, car wash, and gas station, further enhances its investment appeal. The surrounding area has a population exceeding 122,000 within a 5-mile radius, with a median household income of $86,324. This fee-simple ownership opportunity offers significant upside potential for investors seeking a strong return in a growing market. The land value is estimated at $100-$105 per square foot. The property is zoned for medical use.