1377 Locust Ave, Fairmont, WV 26554

THE ASSET: 1377 Locust Avenue is a 13,587 square foot medical office building on a 1.43-acre corner parcel. The Property is comprised of three (3) suites and is 86.16% occupied. West Viginia Medicine (WVU Medicine) occupies two of the three suites and has a WALT of 5.36 years on their leases, both with two (2), 2-year renewal options.

ATTRACTIVE RENT INCREASES: Both WVU Medicine leases call for attractive 2.5% annual rent increases throughout the primary lease term and renewal options, providing the investor with an attractive increase in revenue and hedge against inflation.

UPSIDE POTENTIAL & CLOSE PROXIMITY TO WVU MEDICINE HOSPITAL: The medical office building is currently 86.16% occupied by West Viginia University Medicine (WVU Medicine); the Property offers a value-add opportunity through the lease up of the 1,880 square-foot vacant space. The Property’s close proximity (0.5 miles) to WVU Medicine Fairmont Medical Center makes this a mission critical outpatient medical office building for the tenant (WVU Medicine).

WVU MEDICINE - INVESTMENT GRADE CREDIT TENANCY: WVU Medicine, also known as the West Virginia University Health System, is a non-profit healthcare organization affiliated with West Virginia University. It is the largest health system in West Virginia, with 25 hospitals and multiple clinics across the state. Furthermore, WVU Medicine boasts an investment grade credit rating of “A” according to S&P Global Ratings.

E-COMMERCE RESISTANT INVESTMENT: The building benefits from an internet-resistant lineup of medical tenants. With an aging baby-boomer population, along with strong local demographics, the need for brick-and-mortar medical offices will continue to grow. This sector is largely unaffected by recessions, and the requirement for in-person care and procedures cannot always be fulfilled through e-commerce or telehealth.

STRATEGIC LOCATION: The medical office building benefits from outstanding visibility, frontage and access along Locust Avenue (US Route 19), one of the area’s primary commercial and commuter corridors. The Property is 0.5 miles from WVU Medicine Fairmont Medical Center and Fairmont State University and is convenient to US Route 250 and Interstate 79. The Property is close to area schools and residential neighborhoods, providing a built-in patient base.

HEALTHCARE HUB: Fairmont has established itself as a growing center for healthcare services, with numerous medical practices, specialty providers, and outpatient facilities located nearby. The Property is 0.5 miles from the recently renovated and expanded WVU Medicine Fairmont Medical Center, a primary hospital serving the residents of Fairmont and the surrounding communities. The proximity to the hospital reinforces the area’s desirability, ensuring steady patient traffic and supporting the long-term viability of medical office space.

DEMOGRAPHICS: Approximately 27,600 people live within 3 miles of the Property with an average household income of $81,287. More than 64,700 people within 10 miles of the Property with an average household income of $89,295. Additionally, there are more than 10,600 employees within 3 miles of the Property.

TRAFFIC COUNTS: The Property sees over 8,900 vehicles per day along Locust Avenue (US Route 19).

TRADE AREA: Additional businesses and retailers driving traffic to the area include Food Lion, Price Cutter (grocer), Busy Beaver, Big Lots, Planet Fitness, Fairmont Fitness, CVS, Walgreens, Dollar General, O’Reilly Auto Parts, Monro Auto Service Center, McDonald’s, Burger King, Wendy’s, Pizza Hut, Little Caesars, Papa Johns, Long John Silver’s, Dunkin’, and Sheetz.