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29849956
29849957

390 Robinson Ave, Barberton, OH 44203

KM
CA CA 02055597
Matthews
RC
CA 01986299
Matthews
MM
CA CA 01982943
Matthews
Listed by Matthews
$1,647,000
105 days on market
Updated 38 days ago
Opportunity zone

Federally Qualified Health Center | Medical | Value-Add

Details
Property Type Office, Retail
Sub Type Convenience Store, Medical Office (+1)
Square Footage 16,836
Cap Rate 8.50%
NOI $140,293
Occupancy 90%
Tenancy Multi
Lease Type NN
Rent Bumps Yes
Price per SqFt $98
Broker Co-Op Yes
Year Built 2003
Buildings 1
Investment Type Net Lease
Tenant Credit Corporate Guarantee, Franchisee (+2)
Ground Lease Yes

8.50% Cap Rate | MOB | Multi-Tenant | Healthcare | 3.5 YR WALT

Investment highlights

  • Federally Qualified Health Center Anchor: AxessPointe Community Health Centers leases more than 12,200 square feet and represents roughly seventy two percent of the net rentable area, operating since February 2014 with a lease through July 2029 and two 5-year extension options.

  • Complementary Healthcare Tenancy and On-Site Pharmacy: Ascent Audiology and Hearing occupies nearly 3,000 square feet, and an AxessPointe branded pharmacy is located within the building, providing comprehensive healthcare services.

  • Abundant Medical Services Offered: The site is home to AxessPointe Community Health Centers, who provide comprehensive primary medical care, preventive services, chronic disease management, behavioral health counseling, women’s health services, on site testing, vaccinations, and pharmacy services. The property also includes Ascent Audiology & Hearing, which offers hearing evaluations, hearing aid fittings and repairs, and related audiology services, creating a strong multi disciplinary healthcare presence at the location.

  • Clear Value Add Potential: Approximately 1,700 square foot suite is vacant, representing about 10% of the building, with potential to add around thirty thousand dollars of additional annual base rent.

  • Modern Two-Story MOB: Constructed in 2003, the two-story, class B condominium totals approximately 16,836 SF with elevator access and efficient suite configurations for healthcare providers.

  • Strategic Location Near Hospital: Located less than one mile from Summa Health System Barberton Campus, allowing tenants to coordinate care and access a full spectrum of acute and specialty services.

  • Dense Trade Area with Senior Demographics: Five-mile population exceeds 113,000 with an average household income above $60,000, supporting a deep and diverse patient base.

  • Accessible Akron Metro Location: Convenient access to State Route 619 and proximity to Akron and Canton metros, drawing patients from a broad regional trade area.

  • Hedge Against Economic Downturns: Medical office properties have shown resilience with occupancy levels around or above ninety percent and stable rent growth.

Listing Contacts

KM
CA CA 02055597
Matthews
RC
CA 01986299
Matthews
MM
CA CA 01982943
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$140,293.00
$11,691.08/mo

Valuation Metrics

0
DSCR
8.52%
Cap Rate
8.52%
ROI

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Additional Information

Name
Matt Wallace
License
REC.2022007141, BRKP.2024002419 (OH)
Brokerage
Matthews Real Estate Investment Services, Inc
Title
Broker of Record
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