NNN Office Properties
This is a selection of some of the most attractive Net Leased Office Properties currently available. If you would like more information about any of these properties, please call John Bremner, Bremner Real Estate - 415-234-6093.
Principals Only, Please.
1) DaVita Dialysis - Northwood OH: $1,058,823, 6.8% Cap Rate, 9 Year Corporate NN Lease. DaVita is one of the largest kidney care companies in the US, rated BB by S&P. Northwood is a suburb of Toledo, located with several nursing homes within a one mile radius of DaVita, contributing to demand. Ohio is a Certificate of Need state, limiting the competition. There are 9 years remaining on the net lease, with 2% annual increases, and two 5-yr options. Offered at $1,058,823 with a 6.8% cap rate.
2) Fast Pace Urgent Care - Mayfield KY: $1,216,000, 7.5% Cap Rate, 10 Year NN Lease. New construction with 10 year NN lease guaranteed by SCP Urgent Care LLC with over 40 locations within Tennessee and Kentucky. 1% annual rent increases. Offered at $1,216,000 with a 7.5% cap rate.
3) DaVita Dialysis - Tuscaloosa AL: $1,785,000, 7.1% Cap Rate, 8 Year NN Lease. DaVita is one of the largest kidney care companies in the US, rated BB by S&P. DaVita recently signed a 10 year NN lease extension, with 2% annual increases. This property has operated continuously as a dialysis facility since 1993. In 2013 DaVita upgraded and remodeled the interior. Alabama is a Certificate of Need state, limiting the competition. There are 8 years remaining on the net lease, with 2% annual increases, and two 5-yr options. Offered at $1,785,000 with a 7.1% cap rate.
4) State Police Forensics Lab - Morton IL: $2,033,000, 8.5% Cap Rate, 8 Year Gross Lease. Forensics Sciences Command (FSC) occupies the property with a long-term lease with the State of Illinois which commenced in 2014, and there are 8 years remaining. FSC provides scientific analysis of physical evidence for the law enforcement community. Offered at $2,033,000 with an 8.5% cap rate.
5) DaVita Dialysis - Houston TX: $2,234,571, 7.0% Cap Rate, 8 Year NN Lease. Strategically located within 6 miles of two of Houston's largest hospitals, and strong demographics with over 115,000 within a 5 mile radius. 2% annual increases. Warren Buffet owns 20% of DaVita. Offered at $2,234,571 with a 7.0% cap rate.
6) VA Outpatient Facility - Oklahoma City OK: $2,651,909, 7.75% Cap Rate, 9 Year NN Lease. The Department of Veteran's Affairs (VA) has operated an outpatient facility at this location since 2004. The VA recently renewed their lease (guaranteed by the United States AAA) for another 10 years with two 5-yr options. Located across the street from the Northpark Mall, OK's premier shopping destination. Offered at $2,651,909 with a 7.75% cap rate.
7) NextCare Urgent Care - Tulsa OK: $3,143,815, 6.5% Cap Rate, 20 Year Corporate NN Lease. Next Care Inc, guarantor of the lease, operates over 130 units nationwide, with 10 brands in 10 states, and is one of the nation's largest privately-owned urgent care providers. Newly built facility (2016) with new 20 year NN lease, with 5% increases every 5 years. Located on main throroughfare near Walmart, O'Reilly's, McDonalds, etc. Offered at $3,143,815 with a 6.5% cap rate.
8) Staunton Clinic - Rochester PA: $3,214,000, 7.0% Cap Rate, 13 Year NNN Lease. The Staunton Clinic is a 34,534 square-foot community health center affiliated with the Heritage Valley Health System, which is a credit tenant (A2 Credit Rating) with a large regional presence. The Heritage Valley Health System guarantees the lease 20 year lease with 13 years remaining. Offered at $3,214,000 with a 7.0% cap rate.
9) Women's Health Specialists - Germantown TN: $3,509,000, 6.8% Cap Rate, 11 Year Absolute NNN Lease. Germantown is a suburb of Memphis, and is a regional medical center with access to premier health care. The Women's Health Specialists facility is a one-of-a-kind practice dedicated to the care of women. The lease is personally guaranteed by the 5 doctors that run the clinic. There are 11 years and three 5-yr options remaining on the absolute NNN lease. Strong demographics, with 168,000+ within 5 mile radius. TN is a no-income-tax state. Offered at $3,509,000 with a 6.8% cap rate.
10) Gladiolus Surgery Center - Fort Myers FL: $4,087,000, 6.5% Cap Rate, 15 Year NNN Lease. Surgical Care Affiliates Inc (SCA) has partnered with Physician members of the Gladiolus Surgery Center to operate an ambulatory surgican facility. SCA strategically partners with physician groups to develop surgical facilities. SCA operates 190+ surgical facilities with 2,800+ physicians. 15 year NNN lease with 1.5% annual increases. Offered at $4,087,000 with a 6.5% cap rate.
Principals Only, Please. For more information, please call John Bremner, 415-234-6093