Listed by Matthews
$43,886,000
15-Yr Abs NNN | 9.27% Cap | Fully Renovated Hospital Campus
Details
Property Type Office
Sub Type Medical Office
Square Footage 88,924
Cap Rate 9.27%
NOI $4,069,404
Tenancy Single
Lease Type Absolute NNN
Remaining Term 15
Rent Bumps Yes
Price per SqFt $493
Year Built 1974
Year Renovated 2026
Buildings 1
Stories 3
Acreage 10.230
Ownership Fee Simple
North Clark Community Hospital
Investment highlights
- “GAME-CHANGER FOR THE COMMUNITY” – Charlestown’s healthcare landscape was dramatically impacted when the community’s local hospital closed abruptly. Now, the city eagerly prepares for a major boost to its healthcare infrastructure with the reopening of North Clark Community Hospital. Underscoring the importance of renewed access to emergency care, Mayor Bob Hall hailed the project as “a gamechanger for the community.”
- STUDS-OUT RENOVATION – Through a mission-driven renovation and modernization process, the site is being transformed into North Clark Community Hospital, a state-of-the-art medical campus set for completion in early fall 2026. Purpose-built for hospital operations, the facility will restore essential healthcare services while offering minimal near-term capital expenditure requirements and long-term durability.
- LONG-TERM, ABSOLUTE NNN LEASE – The hospital operates under a 15-Year Absolute NNN lease with zero landlord responsibilities, providing truly passive ownership. Complementing the long-term nature of this lease, a single 15-year renewal option extends potential occupancy to 30 years.
- STEADY INCOME GROWTH WITH ANNUAL INCREASES – Built-in 2% rent escalations throughout the term and option period provide a reliable hedge against inflation and ensure predictable, growing cash flow over the life of the lease.
- MISSION-CRITICAL HEALTHCARE FACILITY – With no local hospital competition and the nearest inpatient facility nearly a half-hour drive from the property, North Clark Community Hospital will serve as the community’s sole provider of critical medical services. The highly specialized, capital intensive buildout creates strong tenant stickiness, while healthcare real estate has consistently proven to be a resilient asset class, offering investors stable demand and long-term security across all economic cycles.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$4,069,404.00
$339,117.00/mo
Valuation Metrics
0
DSCR
9.27%
Cap Rate
9.27%
ROI
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Zoning
R2 ResidentialTwo FamilyMedium Density Residential
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View all 22 uses
View all 22 uses Last updated Feb 27, 2026 For deeper zoning details, reports are available at Zoneomics
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