Listed by Oldham Goodwin Group Bryan / College Station
$3,075,000
St. Joseph Primary Care Clinic - Brenham
Details
Property Type Office
Sub Type Medical Office
Square Footage 9,423
Cap Rate 6.50%
NOI $199,956
Tenancy Single
Brand/Tenant CommonSpirit Health
Lease Type NNN
Rent Bumps Yes
Year Built 2012
Acreage 1.112
Investment Type Net Lease
Tenant Credit Credit Rated
110 Hwy 290 W, Brenham, TX 77833
Marketing description
OLDHAM GOODWIN is pleased to present the St. Joseph Health Primary Clinic in Brenham, Texas for your consideration. The NNN lease with CommonSpirit Health, one of the nations largest catholic health system, has three (3) years remaining on their most recently exercised option. The tenant has shown long term commitment to the market and property, offering comprehensive healthcare services to Washington County and the surrounding area since 2012. The clinic benefits from an excellent location on SH-290, with excellent visibility and exposure to over 30,000 cars per day.
Investment highlights
- Facility was purpose built as a primary care facility for for St. Joseph Regional Health Center in 2012.
- CommonSpirit Health is the largest catholic health system in the United States, with 140 hospitals across 24 states, with annual revenues of approximately $38 billion.
- Facility offers a diverse mix of healthcare services to Washington County and the surrounding area.
- NNN Lease structure provides passive income to Landlord with little management responsibility.
- One and one half percent (1.5%) annual rent escalations.
- Three (3) years remaining on current term.
- Two (2) additional Five (5) year extension options with One and one half percent (1.5%) annual rent escalations.
- Highly visible location, just off Highway 290 with exposure to almost 32,000 VPD.
- Brenham's population grew by over 20% since 2020 and with continual annual growth of 2.9%, signaling an expanding customer base.
- Between 2022 and 2023, Brenham's median household income jumped by over 8%, indicating improving economic conditions.
- Brenham's location between major TX metros like Houston and Austin, pro-business environment, and local economic development efforts make it an attractive place for investment and business growth.
Listing Contacts
Listed by Oldham Goodwin Group Bryan / College Station
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$199,956.00
$16,663.00/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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