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 - 415-234-6093.
Principals Only, Please.
1) Fast Pace Urgent Care Clinic - Fairview TN: $1,440,000, 7.3% Cap Rate, 10 Year NNN Lease. Newly built property with 4000 SF medical office, leased by Fast Pace Urgent Care Clinic, with a 10 Year NNN Lease, with 10% increases with options (two 5-yr options). Lease is guaranteed by SCP Urgent Care LLC. Offered at $1,440,000 with a 7.3% cap rate.
2) Baylor Medical Center - Dallas TX: $1,620,000, 8.0% Cap Rate, 5 year NNN Lease. This is a City Square Community Clinic/Baylor Health property in Dallas TX. The City Square Community Clinic serves as the "medical home" to more than 2000 patients, providing accessible, affordable preventive health care. Baylor Scott & White Health entered into a 15 Year NN Lease with 10% rent increases every four years. There are 5 years remaining on the lease, with two 5-yr options. Offered at $1,620,000 with an 8.0% cap rate.
3) VA Outpatient Clinic - Port Angeles WA: $1,750,000, 7.2% Cap Rate, 8 Year Net Lease. Property was improved for the VA Clinic, with over $1.4M in tenant improvements in 2014, providing a state of the art facility. The property is 100% leased to the Department of Veteran Affairs, with a significant increase on renewal. Offered at $1,750,000 with a 7.2% cap rate.
4) Valor Healthcare (VA Clinic) - Denton TX: $1,995,000, 8.1% Cap Rate, 5 Year Net Lease. Valor Healthcare is a government contractor for the US Dept of Veterans Affairs, and is a wholly owned subsidiary of Humana's Government Business. Valor Healthcare recently executed a 5 year extension, and has a pending expansion to utilize an additional 1,200 sf, and an additional 2,683 sf for future expansion, demonstrating their commitment to this location. Offered at $1,995,000 with an 8.1% cap rate.
5) Illinois State Police Forensics Lab - Morton IL: $2,200,000, 8.0% Cap Rate, 9 Year Gross Lease. The state of Illinois has invested millions of dollars into the property's infrastructure, over the 37 years of occupancy. The cost to replace this asset would be approximately three times the sale price ($585/sf vs $167/sf). The lease was recently extended for ten years, with 9 years remaining on the lease. Offered at $2,200,000 with an 8.0% cap rate.
6) VA Outpatient Clinic - Galesburg IL: $2,630,000, 7.0% Cap Rate, 8 Year Net Lease. This VA Clinic is a single story facility built to suit for the VA in 2013, and is 100% leased to the the US Government, through the GSA. There are 8 years remaining on the original 10 year firm lease. Offered at $2,630,000 with a 7.0% cap rate.
7) Fresenius Dialysis - Palmetto GA: $2,658,000, 7.0% Cap Rate, 7 Year NNN Lease. This property was built to suit for Fresenius in 2007, with a new 15 year NNN Lease, with 2.25% annual increases. There are currently 7 years remaining, with three 5-yr options. Fresenius is the largest dialysis provider in the US. Offered at $2,658,000 with a 7.0% cap rate.
8) Medcare Urgent Care - Anderson SC: $3,247,143, 7.0% Cap Rate, 14 Year NN Lease. Newly built to suit (2014) for Greenville-Spartanburg Medcare Urgent Care, which currently operates 7 facilities in the region. This property is located directly across the street from the AnMed Health Medical Center, the largest independent non-for-profit medical facility in South Carolina. The property is subject to a 15 year NN lease, with 14 years remaining, and 5% increases every five years. Offered at $3,247,143 with a 7.0% cap rate.
9) Veteran Affairs Outpatient Surgery Center - Cleveland OH: $3,575,000, 7.1% Cap Rate, 10 Year Modified Gross. Brand new (2014) construction, with a 10 Year Lease (firm), with a 5.6% rent increase in year 6. Strong Population Density (290,000+ within a 5 mile radius). The VA operates the largest integrated health system in the US, providing care to 8.3 million veterans each year. The Cleveland Regional VA office is the 7th largest in the US. Offered $3,575,000 with a 7.1% cap rate.
Principals Only, Please.