1945 Thomson Drive - NNN Value-Add Opportunity
NNN Investment - Value Add - 33% Leased
Marketing description
1945 Thomson Drive presents the opportunity to acquire a mixed-use medical office asset with stable in-place income and substantial value-add potential. The main level is occupied by an established medical tenant operating under a true triple-net lease, with approximately 18 months remaining on the current term and an option to renew. The NNN structure provides predictable cash flow with minimal landlord responsibility. Based on the current in-place income, the property is being offered at a 7.68% cap rate.
The upper level consists of three residential units that are currently vacant and require only minor cosmetic improvements, including paint and carpet, to be move-in ready. Upon completion of these updates and stabilization of the residential units, the pro forma cap rate is projected to be approximately 12%, representing a meaningful increase in yield through relatively modest capital investment.
The lower level has been fully gutted and offers additional upside through redevelopment. The space could be renovated into two separate commercial suites, further expanding the income base. If the lower level is built out and leased in addition to stabilizing the residential units, the pro forma cap rate is projected to approach 16%. With immediate cash flow from a stable medical tenant and multiple clearly defined paths to increased income, 1945 Thomson Drive offers both current return and significant value-enhancement opportunity for investors.
Investment highlights
Investment Highlights – 1945 Thomson Drive
- Immediate Cash Flow: Stable medical tenant on a true triple-net lease with 18 months remaining and renewal option, offering passive income and limited landlord responsibility.
- Attractive In-Place Return: Offered at a 7.68% cap rate based on current income.
- Clear Value-Add Opportunity: Three upper-level residential units require minor cosmetic updates (paint and carpet) to achieve stabilization, driving projected returns to approximately a 12% pro forma cap rate.
- Significant Upside Potential: Gutted lower level provides opportunity to create two additional commercial suites, with full buildout and lease-up projecting returns approaching a 16% pro forma cap rate.
- Multiple Income Streams: Diversified revenue potential through medical office, residential, and additional commercial tenancy.
This asset combines stable, predictable income with clearly defined and achievable pathways to materially increase yield.
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