Listed by Encore Real Estate Investment Services
$2,699,000
ATI Physical Therapy
Details
Property Type Office, Retail
Sub Type Medical Office, Storefront
Square Footage 8,200
Cap Rate 7.26%
NOI $195,966
Occupancy 100%
Tenancy Single
Lease Type NN+
Lease Term 12
Lease Expiration 01/31/2029
Remaining Term 2.7
Rent Bumps Yes
Lease Options (2) Five Year Options
Price per SqFt $329
Class B
Year Built 1986
Year Renovated 2016
Buildings 1
Investment Type Net Lease
Tenant Credit No Credit Rating
Lease Commencement 02/01/2017
National Tenant | Strong, Affluent Location | NN+ Lease | 2% Annual Increases
Investment highlights
- National Tenant - ATI Physical Therapy is one of the largest outpatient rehabilitation providers in the U.S., with a strong national footprint, established brand recognition, and consistent patient demand driven by healthcare and wellness trends
- Strong Ann Arbor Location - Situated in one of Michigan’s most desirable and affluent markets, Ann Arbor benefits from the presence of the University of Michigan, a highly educated population, and strong economic fundamentals supporting long-term real estate value
- Prime Jackson Road Corridor - The property is located along Jackson Road, a major retail and commercial thoroughfare with excellent visibility, strong traffic counts, and proximity to national retailers, healthcare providers, and dense residential neighborhoods
- Stable In-Place Income with Growth - The lease features 2% annual rent increases, providing steady NOI growth and a hedge against inflation
- Remaining Lease Term with Options - Approximately 3 years remaining on the initial term with two (2) five-year renewal options, offering both near-term rollover opportunity and long-term upside potential
- NN+ Lease Structure - Tenant is responsible for taxes, CAM, and insurance, with limited landlord responsibilities, providing passive ownership with reduced management obligations
- Value-Add and Owner-User Potential - Shorter remaining lease term creates the opportunity to mark rents to market, re-tenant, or pursue an owner-user strategy depending on buyer objectives
- Additional Income Potential - Lower level professional office space is currently available for lease, offering upside through additional income generation and lease-up opportunity
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$195,966.00
$16,330.50/mo
Valuation Metrics
0
DSCR
7.26%
Cap Rate
7.26%
ROI
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