Listed by Black Diamond Realty
$5,105,000
6, 8, 10 Canyon Road - Class A Office Investment
Details
Property Type Office
Sub Type Medical Office
Square Footage 17,330
Cap Rate 7.65%
Occupancy 100%
Tenancy Multi
Brand/Tenant WVU Medicine, Omnia Medical
Class A
Year Built 2008
Buildings 1
Stories 3
Acreage 1.120
Zoning No Zoning
Parking Spaces 36 spaces
Parking per 1,000 SqFt 2.08
Investment Type Stabilized
Tenant Credit Credit Rated
Office | 7.65% CAP | 17,330 SqFt
Marketing description
This fully leased professional/medical office investment opportunity offers a strong and stable income stream with a 7.65% cap rate and two established, creditworthy tenants, WVU Medicine and Omni Medical. Strategically positioned with excellent visibility along I-68 in the highly regarded Cheat Lake area of Morgantown, WV, the property benefits from proximity to major medical, academic, and economic anchors including West Virginia University, J.W. Ruby Memorial Hospital (WVU Medicine), Mon Health, Uniontown Hospital (WVU Medicine), and UPMC. This offering represents a rare opportunity to acquire a secure, long-term medical investment in a thriving market.
Investment highlights
- Investment-Grade Tenant: WVU Medicine (S&P: 'AA/A-1' and 'AA+/A-1')
- Occupies 26% of Property
- Lease Commencement: March 1, 2014
- Lease Term Remaining: 2.5+ Years and 5-Yr Renewal with CPI Increase
- Lease Type: NN
- Healthy Minds Counseling Office
- Long-Term Creditworthy Tenant: Omnia Medical
- Occupies 74% of Property
- Lease Commencement: June 1, 2018
- Lease Term Remaining: 10+ Years Remaining and Two 5-Yr Renewals with CPI Increases
- Lease Type: Modified Gross
- Limited Personal Guarantees by Co-Owners
- Invested significant capital in tenant improvements to the property.
- Medical Implant Headquarters (Corporate Office, Testing, Clean Room, Printing/Packaging/Shipping)
- Excellent I-68 Interstate Visibility
- Located in the highly regarded Cheat Lake area of Morgantown, WV
- Strong Medical, Academic, and Economic Markets
- Near West Virginia University, J.W. Ruby Memorial Hospital (WVU Medicine), Mon Health, Uniontown Hospital (WVU Medicine) & UPMC
- Amenities: Backup Power Generators
- Utilities: 3-phase electric, natural gas, public water/sewer
Listing Contacts
Listed by Black Diamond Realty
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