Below Market Rent | Hospital & Medical Office Building
This is a confidential, off-market opportunity
Rare, Below Market Rent Opportunity
382 Bed Hospital: 539,000 SF
Medical Office Building: 79,970 SF
The hospital is only paying $0.09 cents PSF
The medical office building is only paying $0.43 cents PSF
Existing major single tenant has a master lease
The hospital renews every 2 years with CPI increases
The medical office building renews every 3 years with CPI increases
There are 50 renewals in these leases
The hospital is a full blown, operating hospital
Current NOI is approx. $973,000
The leases are Absolute Triple Net (NNN)
The asking price is only available if a All Cash, Quick Closing takes place
Reason for selling: The owner owns other hospitality and retail properties all of which have been crushed by Covid 19. If not for Covid 19, this owner would not be selling.
It is estimated that the cost to build a hospital today is $750k to $1 million per bed.
With this purchase, a buyer will be able to immediately reduce the average cost per square feet in their overall medical portfolio holdings.
Buyer responsible for 4.00% buy-side commission
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.