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31410162
31410163

110 Hwy 290 W, Brenham, TX undefined

CO
TX TX555666
Oldham Goodwin Group Bryan / College Station
Listed by Oldham Goodwin Group Bryan / College Station
$3,075,000
78 days on market
Updated 78 days ago

ST. JOSEPH PRIMARY CARE CENTER

Details
Property Type Office
Sub Type Medical Office
Square Footage 9,423
Cap Rate 6.5%
NOI $199,956
Occupancy 100%
Tenancy Single
Brand/Tenant Common Spirit Health
Lease Type NNN
Lease Term 17
Lease Expiration 02/28/2029
Remaining Term 2.7
Rent Bumps Yes
Lease Options Two (2) additional Five (5) year extension options
Price per SqFt $326
Year Built 2012
Buildings 1
Stories 1
Acreage 1.112
Investment Type Net Lease
Lease Commencement 03/01/2012

9,423 SF PRIMARY CARE CLINIC ON 1.112 AC

Marketing description

OLDHAM GOODWIN is pleased to present the St. Joseph Health Primary Clinic in Brenham, Texas for your consideration. The NNN lease with CommonSpirit Health, one of the nations largest catholic health system, has three (3) years remaining on their most recently exercised option. The tenant has shown long term commitment to the market and property, offering comprehensive healthcare services to Washington County and the surrounding area since 2012. The clinic benefits from an excellent location on SH-290, with excellent visibility and exposure to over 30,000 cars per day.

Investment highlights

LONG TERM COMMITMENT TO THE COMMUNITY AND FACILITY

  • Facility was purpose built as a primary care facility for for St. Joseph Regional Health Center in 2012.
  • CommonSpirit Health is the largest catholic health system in the United States, with 140 hospitals across 24 states, with annual revenues of approximately $38 billion.
  • Facility offers a diverse mix of healthcare services to Washington County and the surrounding area.

NNN LEASE STRUCTURE WITH MINIMAL LANDLORD RESPONSIBILITY

  • NNN Lease structure provides passive income to Landlord with little management responsibility.
  • One and one half percent (1.5%) annual rent escalations.
  • Three (3) years remaining on current term.
  • Two (2) additional Five (5) year extension options with One and one half percent (1.5%) annual rent escalations.

EXCELLENT LOCATION IN HIGH GROWTH AREA AND BUSINESS FRIENDLY ENVIRONMENT

  • Highly visible location, just off Highway 290 with exposure to almost 32,000 VPD.
  • Brenham’s population grew by over 20% since 2020 and with continual annual growth of 2.9%, signaling an expanding customer base.
  • Between 2022 and 2023, Brenham’s median household income jumped by over 8%, indicating improving economic conditions.
  • Brenham’s location between major TX metros like Houston and Austin, pro-business environment, and local economic development efforts make it an attractive place for investment and business growth.

Listing Contacts

CO
TX TX555666
Oldham Goodwin Group Bryan / College Station
Listed by Oldham Goodwin Group Bryan / College Station

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$199,956.00
$16,663.00/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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Additional Information

Name
Clinton Oldham
License
TX555666
Brokerage
Oldham Goodwin Group, LLC
Brokerage Phone
979.268.2000
Brokerage Address
3000 Briarcrest Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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