

Listed by Marcus & Millichap - Memphis
$1,420,242
Fast Pace Urgent Care
Details
Property Type Office, Mixed Use
Sub Type Medical Office
Square Footage 3,600
Cap Rate 7.25%
NOI $102,968
Occupancy 100%
Tenancy Single
Brand/Tenant Fast Pace Urgent Care
Lease Type NN
Lease Term 12
Lease Expiration 08/20/2031
Remaining Term 5.2
Rent Bumps Yes
Lease Options Three, 5-Year Options
Price per SqFt $395
Broker Co-Op True
Year Built 2019
Acreage 0.930
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/21/2019
Ground Lease No
Corporate | Across From New 32-Acre Mixed Use Development | $88K AHI | Annual Increases
Investment highlights
SUPERIOR TENANT- FAST PACE URGENT CARE (FPMCM, LLC)
- Corporate Guarantee from FPMCM, LLC
- FPMCM, LLC currently is a top 5 Urgent Care brand with approximately 300 locations over 8 states (TN, KY, LA, MS, IN, AL, NC & AR)
- FPMCM, LLC currently serves over 3 million patients per year
- In 2022, Fast Pace partnered with First Care Clinics to expand its clinical footprint and increase access to care for underserved rural populations
- Per Placer.ai, this location ranks in the 63rd percentile in U.S., and 75th percentile in MS with 26.6K visitors the past 12 months
STRONG RETAIL LOCATION AND DEMOGRAPHICS
- Located across from the new Gautier Town Commons Development
- Gautier Town Commons will be a new 32-acre vibrant community space development that will include Belk, an 8,000-seat amphitheater known as “The Sound”, the Mississippi Songwriters Hall of Fame Performing Arts Center (10,000 SF, two stories), commercial shops and restaurants, a new city hall, multifamily/condo units, hospitality, walkable streets & green space, pickleball courts, dog park, and a 10,800 SF Inclusion playground (the largest of its kind in Mississippi)
- Main retail hub of Gautier
- Located across the street from Lowe’s Home Improvement and near O’Reilly Auto Parts, AutoZone, Family Dollar, Murphy USA, Grease Monkey, Sonic, Gautier High School (870 +/- students), Gautier City Hall, and the Gautier Municipal Court
- Approximately 30 miles East of Gulfport/Biloxi
- Gulfport/Biloxi is the 3rd largest city in Mississippi and is home to the U.S. Navy Atlantic Fleet Seabees- employs more than 4,400 active-duty personnel
- Home to dozens of casinos which generate millions of dollars and visitors annually
- Average Household Income is over $84,000 in the 1-mile radius and over $88,000 within 5 miles with a traffic count of over 36,000 cars/day in front of the subject property
FAVORABLE LEASE TERMS AND CONSTRUCTION
- Approximately 5+ years remaining with three (3), five (5) year options to extend
- Annual increases of 1.25% during the primary term
- Conservative rent of $28.60/SF
- All brick construction built in 2019 on approximately .93 acres
Listing Contacts


Listed by Marcus & Millichap - Memphis
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$102,968.00
$8,580.67/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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