Listed by Marcus & Millichap | The Patel Yozwiak Group
$900,000
OHIO VALLEY MEDICAL CENTER PARKING & DEVELOPMENT OPPORTUNITY
Details
Property Type Land
Sub Type Commercial
Broker Co-Op Yes
Acreage 3.320
Zoning City C-DT
+/- 3.32-AC LOT ACROSS FROM 234-BED MERCY HEALTH REGIONAL MEDICAL CENTER
Investment highlights
- Opportunity to acquire a ±3.32-acre lot benefiting from immediate cash flow with significant long-term redevelopment upside.
- Rare Development Opportunity: OVMC is responsible for all operating and maintenance costs for the entire 3.32-AC site while only leasing space for 112 designated parking spots. This leaves approximately 2.26-AC ready for development with the unique advantage of zero carrying costs during entitlement and planning.
- Leased to Ohio Valley Medical Center (OVMC), a leading regional provider and strategic partner to the neighboring Mercy Health hospital system.
- Absolute NNN Ground Lease: Zero landlord responsibilities, offering a truly passive "coupon-clipper" investment ideal for 1031 exchange buyers.
- Features 10% rent increases every five years, including through all three 5-year option periods, providing a strong hedge against inflation.
- The price point reflects the high demand for contiguous land in a tightening medical corridor, priced at approximately $267,857 per acre.
- Directly across from the 234-bed Mercy Health Springfield Regional Medical Center, and Ohio Valley Medical Center.
- Located in a primary employment hub with a daytime population of 14,509 within one mile, and 78,000+ residents within 5 miles
Listing Contacts
Listed by Marcus & Millichap | The Patel Yozwiak Group
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