Listed by Marcus & Millichap - South Bay
$1,555,555
University hospitals urgent care
Details
Property Type Office
Sub Type Medical Office
Square Footage 4,462
Cap Rate 6.75%
NOI $105,000
Occupancy 100%
Tenancy Single
Brand/Tenant Univerity Hospitals Urgent Care
Lease Type NN
Lease Expiration 01/30/2034
Remaining Term 8
Price per SqFt $349
Year Built 2000
Year Renovated 2019
Acreage 1.410
Tenant Credit Franchisee
Lease Commencement 01/28/2024
Ownership Fee Simple
Office | 6.75% CAP | 4,462 SqFt
Marketing description
The opportunity consists of the fee-simple interest in a University Hospitals-affiliated urgent care facility located at 9449 OH-14 in Streetsboro, Ohio. The single-tenant medical property was constructed in 2000 and is subject to a double-net (NN) lease with approximately eight (8) years of remaining primary term, providing investors with stable, long-term income backed by a regional healthcare operator.
The ownership has recently completed approximately $150,000 in capital improvements, including the installation of a brand-new roof with a 20-year warranty and a new HVAC system, materially reducing near- and mid-term capital expenditure risk. Under the NN lease structure, the tenant is responsible for taxes, insurance, and day-to-day maintenance, while ownership retains limited responsibilities, offering a balance of passive income and control.
University Hospitals is a well-established, nonprofit healthcare system with a strong regional presence and a mission-critical urgent care use. The property benefits from consistent patient demand, healthcare-driven tenancy, and its location along State Route 14, a major commuter and retail corridor in the Greater Cleveland-Akron market. See rent schedule for details regarding current rent and future increases.
Investment highlights
- Single-tenant University Hospitals Urgent Care investment
- Seller put in approximately 150K into the property
- Brand New Roof w/20 Year Warranty
- Brand New HVAC
- Lease expiration: January 31, 2034 (8+ years remaining)
- Three (3) renewal options providing long-term income potential
- Lease commenced January 29, 2024-recently executed tenancy Service-based healthcare tenant in the growing urgent care sector
- Lot Size 1.41 Acres (61,202 SF)
Listing Contacts
Listed by Marcus & Millichap - South Bay
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$105,000.00
$8,750.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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