Listed by Sands Investment Group
$399,000
118 Airway Dr - The Airway Drive Portfolio
Details
Property Type Office
Sub Type Medical Office
Square Footage 3,700
Cap Rate 8.04%
NOI $32,077
Occupancy 100%
Tenancy Single
Lease Type Modified
Lease Term 5
Lease Expiration 08/31/2028
Remaining Term 2.1
Rent Bumps Yes
Lease Options 3 x 3 Year Options
Price per SqFt $108
Acreage 0.550
Lease Commencement 09/01/2023
Ground Lease No
118 Airway Dr | Modified Gross | 8.04%
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 3,700 SF 118 Airway Drive in Marion, IL. Rare opportunity to acquire a corporately guaranteed national tenant at just $399,000.
Investment highlights
- Accessible Retail Opportunity: Rare opportunity to acquire a corporately guaranteed national tenant at just $399,000.
- Long-Term Income Stability: Base term expiration in August 2028, 3, 3-year renewal options.
- Medical Tenancy: NovaCare Prosthetics & Orthotics specializes in healthcare providers delivering custom prosthetic and orthotic solutions to patients throughout the region.
- Landlord Leasing Leverage: Opportunity to restructure the gross lease to increase NOI at options.
- Consistent Demand: Growing healthcare needs, an aging population, and advancements in rehabilitation medicine continue to support demand for prosthetic and orthotic care services.
Listing Contacts
Listed by Sands Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$32,077.00
$2,673.08/mo
Valuation Metrics
0
DSCR
8.04%
Cap Rate
8.04%
ROI
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