Listed by Summit Real Estate
$1,430,000
Cannon Drive Medical Condo
Details
Property Type Office
Sub Type Medical Office
Square Footage 3,200
Cap Rate 6.50%
NOI $92,800
Tenancy Multi
Lease Type NNN
Lease Term 8
Lease Expiration 12/31/2030
Remaining Term 4.5
Rent Bumps Yes
Lease Options 3 x 4
Class A
Year Built 2021
Buildings 1
Acreage 0.810
Investment Type Net Lease
Lease Commencement 01/31/2022
Office | 6.50% CAP | 3,200 SqFt
Investment highlights
- New Construction Class “A” Medical Office Condo (2021)
- NNN Lease Structure | Limited Landlord Responsibilities
- Personal Guarantee Backing Lease
- 8-Year Original Term | ~4.5 Years Remaining | 3 (4-Year) Renewal Options
- Strong Demographics | $177,350 Average Household Income Within 1-Mile Radius (2x National Average)
- Prime Location Near Cannon Drive & Broad Street | 29,000+ VPD
- High-Growth Corridor | Surrounded by Major National Retailers Including H-E-B, Kroger, Market Street, Chick-fil-A, Academy Sports + Outdoors, and More
- Established Medical Hub | Within 3 Minutes of Methodist Mansfield Medical Center
Listing Contacts
Listed by Summit Real Estate
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$92,800.00
$7,733.33/mo
Valuation Metrics
0
DSCR
6.49%
Cap Rate
6.49%
ROI
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