Atrium OB/GYN, Inc.
Single-Tenant OB/GYN Clinic | 3rd in Total Volume & 2nd in Total Revenue For OB/GYN Services
Marketing description
Northmarq National Healthcare Group is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single-tenant medical office building located in Canton, Ohio. The Property is 100% occupied by Atrium OB/GYN. Atrium OB/GYN has been providing obstetric and gynecologic care to women in Stark County for over 80 years. In fact, when observing the top OB/GYN facilities in the market, Atrium OB/GYN ranks third in Total Volume and ranks second in Total Revenue for OB/GYN Services within the market. The only two facilities ahead of the Property are Aultman Hospital and Stark Women's Center.
The Property calls for an attractive NNN lease structure with 2% annual rental escalations. This provides potential investors with a truly passive asset requiring no Landlord responsibilities. There are currently just over 5.0 years of lease term remaining as well as 2, 5-year renewal options remaining.
The Property is advantageously located in a strong retail and business corridor which provides extremely easy access to all patients as well as superior visibility for all passing vehicles. The traffic counts directly off the Property are over 22,700 vehicles per day. Within a 5-mile radius of the Property, there is a population of 165,937 boasting an average household income of $86,081.
Investment highlights
- When observing the top OB/GYN Facilities in the market based upon volumes and revenues generated, the Property ranks third in total volume and ranks second in Total Revenue for OB/GYN services. The only two facilities producing greater number of Volumes and Revenues is the Aultman Hospital and Stark Women's Center. Furthermore, Atrium OB/GYN has been servicing Stark County for over 80 years. Atrium OB/GYN has established themselves as a leading provider of obstetric and gynecologic care in Stark County.
- Within 15 minutes of the Property, according to Pivotal Analytics, there is a FTE ("full-time equivalent") physician gap of 83.9 for OB/GYN services. This reveals that the Defined Market could support 83 additional physicians providing OB/GYN services before the demand is fully sufficed. Furthermore, it reveals that the Tenant has an opportunity to continue to capture additional market share.
- The Property is subject to an attractive NNN lease structure with 2% annual rental escalations. This provides potential investors with an opportunity to acquire a truly passive asset with no Landlord responsibilities. Furthermore, the Property currently has 2, 5-year renewal options remaining.
- The Property is located off Whipple Ave which produces a traffic count of over 22,700 vehicles per day. Furthermore, the Property is situated in a dense retail and commercial corridor which provides excellent visibility to all passing vehicles as well as extremely easy access to the Property.
- The healthcare industry continues to serve as a cornerstone of the local economy in Canton. In fact, Aultman Hospital is the city's largest employer. Furthermore, 94% of Stark County residents carry health coverage which provides a stable foundation for long-term medical tenancy and real estate investment.
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