819 1ST AVE Fairbanks AK 99701-4449

Marcus & Millichap is pleased to offer for sale two recently renovated medical buildings in the Fairbanks market. Both facilities were built specifically to suit the needs of Fairbank Urology, Northern Alaska’s premier Urology/Oncology provider. Both sites are 100% leased to the Fairbanks Urology practice who is owned and backed by Integrated Oncology Network (ION), a premier national healthcare provider consisting of over 60 Oncology/Urology clinics across the United States.

The two buildings are available for sale individually, as well as a portfolio. The facilities are located just under a mile away from each other at 819 1st Ave and 1211 Cushman St in Downtown Fairbanks. The two buildings work in collaboration in providing unparalleled patient care and treatments, as well as serving the practice’s administrative, accounting and billing support. The building at 1211 Cushman St became occupied by the practice during its expansion in 2022. This expansion required an extensive $3.85M renovation came with another new ten-year lease commitment to accompany the ten-year lease executed in July of 2020 for the property at 819 1st Ave.

Fairbanks is the largest city in the interior region of Alaska and the second largest city in the state after Anchorage. Once a gold rush boomtown, Fairbanks is known as the “Golden Heart City,” which is a testimony to the warmth of its people. Fairbanks’ central location within Alaska makes it the focal point for numerous villages and towns scattered throughout central Alaska. Integral parts of Fairbanks include the Alaska Highway, trans-Alaska oil pipeline, mining, Fort Wainwright and Eielson Air Force Base, and the University of Alaska.

With the recent commitments to the practice from one of the nation’s premier medical providers, these two buildings represent an ideal investment opportunity. Investors can capitalize on an opportunity that offers a strong national tenant, in a market with an increasing need for the provided services, while achieving great cash flow with minimal landlord responsibility from the passive net lease structure and scheduled annual rent increases.

Investment Highlights

- Strong Investment Grade Medical Tenant (ION)

- Recent Lease Commitments, Including Substantial Built-To-Suit Tenant Improvements ($3.85M+)

- NNN Lease Structure Offers Minimal Landlord Responsibility

- 3% Annual Rent Increases

- Both Properties Centrally Located in Downtown Fairbanks

- Income Tax Free State

- Both Properties Are Located In A Designated Opportunity Zone