2330 E Bidwell St Folsom, CA 95630

About the Property

2330 E. Bidwell is an upscale two-story medical office building located in Folsom, one of Sacramento's most desirable and fastest growing suburbs. The property sits squarely in a medical hub anchored by Dignity Health - Mercy Folsom Hospital located less than 1 mile away. The property measures 39,062 rentable square feet and is leased to a diverse and stable mix of medical and office tenants including Vitero Retinol Medical Group, Folsom Spine Surgery, HMA Architecture, and West Valley Construction. The property is currently 80% leased to 13 tenants paying an average rent of $1.88 PSF, fully serviced, which is approximately 50% below the average market rent for comparable medical space immediately surrounding the property. Given the property's proximity to existing medical uses and hospitals and the 5/1,000 on-site medical grade parking, the property is in a unique position to capture the growing demand for medical office space nearby. Over time, a value-add strategy can be implemented to transition the entire tenancy to medical related practices which command a much higher base rent and longer lease term than traditional office tenants. The property is the largest of ten office and medical buildings constructed in 2000 as part of an association-managed development known as Broadside Village. The property is being offered for $7,850,000 which is $200 per square foot.