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) 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) Pace Care Medical Center - Warren MI: $1,720,000, 7.0% Cap Rate, 10 Year NNN Lease. The Pace Care Center (a subsidiary of the Henry Ford Health System) signed a new 10 year NNN lease in March, with increases every 5 years. The Henry Ford Health System guaranteed the tenant improvements and hard costs of nearly $600,000. Site has good visibility, with a traffic count of 30,000 VPD, and a population of 320,000 within a 5 mile radius. Offered at $1,720,000 with a 7.0% cap rate.
4) 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.
5) 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.
6) 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.
7) 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.
8) Seasons Inpatient Hospice - Naperville IL: $5,200,000, 7.2% Cap Rate, 8 Year Absolute NNN Lease. Seasons Inpatient is the 4th largest hospice company in the US, currently operating 24 Medicare-certified sites across 17 states, with over 18,000 patients and 1.3 million days of care. The site was built to suit in 2012 and leased to Seasons with 8 years remaining on the NNN lease, with 2.5% annual increases, and two 5-yr options. Centrally located amidst several of the region's largest hospitals along I-88 and Route 59, with a population over 183,000 within a 5 mile radius. Offered at $5,200,000 with a 7.2% cap rate.
Principals Only, Please.