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27667963
27667964

1002 E Madison St, Houston, MS 38851

BR
NY 10491212709
SRS Real Estate Partners New York
KF
NY 10401281546, NJ 2441197
SRS Real Estate Partners New York
SRS Real Estate Partners Birmingham
Listed by SRS Real Estate Partners New York, SRS Real Estate Partners Birmingham
$9,225,000
230 days on market
Updated 35 days ago
Opportunity zone

Progressive Health

Details
APN 1-102C-04-012.00
Property Type Office, Retail
Sub Type Medical Office
Square Footage 88,247
Cap Rate 8%
NOI $738,000
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 20.2
Lease Expiration 11/30/2044
Remaining Term 18.5
Rent Bumps Yes
Lease Options 2 (5-year)
Price per SqFt $105
Year Built 1968
Zoning C-3 Highway Commercial
Parking Spaces 96 spaces
Parking Per SqFt 1.09
Lease Commencement 10/09/2024
Ground Lease No
Ownership Fee simple interest (land & building ownership)

Office | 8.00% CAP | 88,247 SqFt

Marketing description

SRS Real Estate Partners, LLC is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased healthcare investment located in Houston, Mississippi. The tenant, Progressive Health of Houston, LLC, recently signed a brand-new 20-year lease with two (2) additional 5-year renewal options, demonstrating their long-term commitment to the property. The lease features 2.5% annual rental increases throughout the primary term and renewal periods, offering consistent NOI growth and a built-in hedge against inflation. The lease is structured as absolute NNN, with zero landlord responsibilities, making this an ideal, management-free investment opportunity for passive or out-of-state investors.

Investment highlights

  • Brand New 20-Year Lease | Annual 2.5% Rental Increases

  • Corporate Guaranty Absolute NNN | Zero Landlord Responsibilities

  • Excellent Accessibility On E Madison St (9,600 VPD)

  • Rural Healthcare Destination

Listing Contacts

BR
NY 10491212709
SRS Real Estate Partners New York
KF
NY 10401281546, NJ 2441197
SRS Real Estate Partners New York
SRS Real Estate Partners Birmingham
Listed by SRS Real Estate Partners New York, SRS Real Estate Partners Birmingham

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$738,000.00
$61,500.00/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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