Listed by Atlantic Capital Partners
$4,345,000
New 3 Tenant NNN Medical/Retail For Sale | 6.95% CAP
Details
Property Type Retail, Office
Sub Type Storefront, Shopping Center
Square Footage 9,700
Net Rentable (SqFt) 9,700
Cap Rate 6.95%
NOI $301,996
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Price per SqFt $448
Year Built 2023
Buildings 1
Acreage 1.500
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Long-Term NNN Leases
Marketing description
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this fully occupied medical office building with long-term NNN leases. The property is strategically located just off Paul Huff Parkway, Cleveland's primary commercial thoroughfare with close proximity to I-75, Publix and The Home Depot.
Investment highlights
- New construction medtail asset with long-term NNN leases and annual rent increases
- Fee simple ownership allows for depreciation of the building boosting after-tax returns
- Fixed annual rent increases provides hedge against inflation
- Rent is secured by three experienced and successful medical groups that have made large investments and long-term leases
- Brand new building with transferable roof warranty provides ease of ownership and stable cash-flow
- Tenants reimburse for Taxes, CAM, Insurance and Management fees
- Strategically located .2 miles from I-75 Interchange just off Paul Huff Parkway, the primary commercial thoroughfare serving Cleveland
- Tennesse has no state income tax and is one of the fastest growing States in the US
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$301,996.00
$25,166.33/mo
Valuation Metrics
0
DSCR
6.95%
Cap Rate
6.95%
ROI
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