Listed by Colliers - San Diego - Carlsbad, California
$3,005,000
University Hospitals Urgent Care | New 2024 Construction
Details
Property Type Retail, Office
Sub Type Storefront, Medical Office
Square Footage 4,500
Cap Rate 7%
NOI $210,340
Occupancy 100%
Tenancy Single
Brand/Tenant University Hospitals
Lease Type NNN
Lease Term 10
Lease Expiration 03/24/2034
Remaining Term 7.7
Rent Bumps Yes
Lease Options Three, 5-Year
Year Built 2024
Acreage 0.800
Parking Spaces 26 spaces
Parking per 1,000 SqFt 5.78
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 03/25/2024
Ground Lease No
8 Years Remaining on NNN Lease with Minimal Landlord Responsibilities
Marketing description
PROXIMITY
- 56,394 Residents in Primary Trade Area - Affluent customer back with an average household income of $129,373 in 5-mile radius
- 2 Miles to Cleveland Clinic Medina Hospital with 148-Beds - Adjacent to UH Medina Health Center
- Surrounded by Dozens of National Tenants in Primary Retail Corridor - Including Walmart (2.2M annual visitors per placer.ai), Target, Home Depot, Meijer, Giant Eagle, McDonald’s
- Excellent Access and Visibility to 14,200 VPD Along Main Retail Artery - Close proximity to I-71, SR-303 and I-80/Ohio Turnpike
- Nearby Apartment Communities Include Forest Meadows (294 units) and Waterford Village Apartments (588 units) - Several K-12 schools nearby with 6,100 combined students
- 25 Miles to Akron and 33 Miles to Cleveland - Medina is part of Cleveland MSA with a population of 2.9 million and home to nine Fortune 500 companies
Investment highlights
SECURE STREAM OF INCOME
- 8 Years Remaining on NNN Lease with Minimal Landlord Responsibilities - Tenant maintains roof, structure and parcel, landlord responsible for roof replacement
- Rare 2.5% Annual Rent Increases - Throughout base term and three, 5-year renewal options
- Brand New 2024 Block Construction - 18 years remaining on 20-year manufacturer’s roof warranty
- Corporate Guaranty from University Hospitals Urgent Care by WellStreet, LLC - Operating 165 clinics nationwide, including 20 locations in Ohio
- University Hospitals is One of the Nation’s Leading Healthcare Systems - Partnered with WellStreet, LLC to provide urgent care management and operations systems
- Global Urgent Care Centers Market Size Valued at $31.23 Billion in 2026 - Projected to grow to $51.31 billion by 2034
Listing Contacts
Listed by Colliers - San Diego - Carlsbad, California
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$210,340.00
$17,528.33/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
Map
Zoning
C-3 CommercialGeneral CommercialGeneral Commercial
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View all 48 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
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Property History
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