Listed by Marcus & Millichap - Phoenix
$3,711,000
Optum Community Center
Details
Property Type Retail, Office
Sub Type Medical Office, Sports/Entertainment
Square Footage 11,720
Cap Rate 7.75%
NOI $287,641
Occupancy 100%
Tenancy Single
Brand/Tenant Optum, UnitedHealthcare
Lease Type NN
Lease Term 17.6
Lease Expiration 11/29/2030
Remaining Term 4.4
Rent Bumps Yes
Lease Options 3, 5 Year Options
Price per SqFt $317
Year Built 2007
Acreage 1.290
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/07/2013
2,000+ Location Operator | 7.75% CAP | 11,720 SqFt
Marketing description
Optum is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of UnitedHealth Group (NYSE: UNH).
As the largest and most populous city in New Mexico and home to approximately one-fourth of the state’s population, Albuquerque is a hub for the arts with an economy built on science, medicine, technology, commerce, education, culture outlets and entertainment.
Investment highlights
- Five Years Remaining on Lease Term with Optum Healthcare (±2,000 Locations)
- Optum Parent Company, UnitedHealth Group (NYSE: UNH), a Health Care and Well Being Company Providing Care for 148 Million People
- The Optum Community Center Offers Wellness Classes, Educational Events, and a State-of-the-Art Gym to Adults Ages 55+
- Annual Rental Increases with Multiple Renewal Options
- Densely-Populated Albuquerque Trade Area - ±284,771 Residents within a 5-Mile Radius
Listing Contacts
Listed by Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$287,641.00
$23,970.08/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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