320 Superior Avenue, Suite 370, Newport Beach, CA 92663
Type: Medical Office
Square Feet: 1,100
Asking rent: $3.65 Full Service
Available: LEASED/NOT AVAILABLE
Parking: Free
How to tour: Call to view
Other: All New improvements inside –spec Medical
For sale: $550,000 see terms below:
The Suite is owned by Medical Arts Building LLC which is 3% of the building
The transaction is made to acquire 3% Membership of Medical Arts LLC which entitles the owner to rent the suite from Medical Arts LLC for a set amount. (Its called rent instead of mortgage payment for tax reasons) The rent is used from all members to service the monthly debt which expires in 2032. The sale price of suite has two parts. Part 1 is the outstanding debt on the suite ( as of today 220K) PART 2 is the Payment=Sale Price-(Debt for the suite) which goes to the seller.
The Suite is owned by Medical Arts Building LLC which is 3% of the building