Property details

Urgent Care Property, Southeast Region

Property Description

Urgent Care Property. All Brick. Newly renovated. Part of a larger package. NNN

About the Tenant

LEASE GUARANTEE Physicians Care Urgent Team and they are one of the largest independent operators of Urgent and Family Care in the southeast with 30 locations in Tennessee, Mississippi and Arkansas. Urgent Team is continuing to grow.

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Highlights

Status:
Available
Price:
$422,792
PSF:
$224
Cap Rate:
7.25%
Annual Rent:
$30,652
Rent Increases:
1.25% Annual increases. The original 8 yr lease term has 7 yrs remaining as of June 1, 2017. All 5 properties have a similar lease and the rent increases 1.25% annually.
 

Property Information

Building Size:
1,886 sq.ft.
Property Type:
Net Lease
Industry Type:
Medical - Healthcare
Units/Spaces:
1
Land Area:
0.93 acres
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Urgent Care Property
Lease Type:
NNN
Lease Commencement:
05/31/2016
Lease Expiration:
05/31/2024
Lease Term:
8 years
Lease Remaining:
6.0 years
Landlord Responsibilities:
The Tenant is responsible for utilities, taxes, insurance, structural elements etc. Lease Language “Any Operating Expenses which are for capital expenditures shall be amortized over the useful life of the item and passed through to Tenant on such basis
Options:
Consecutive 5 year options to renew at fair market rent for the base year and 1.25% annual rental increases for the balance of the term.
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.