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Multi-Tenant Fresenius MOB 1340 Belmont Ave 26,611 SF 100% Leased Office Building Youngstown, OH 44504 $4,150,000 ($155.95/SF) 8% Cap Rate
Investment Highlights
- ? Fully Occupied Medical Office with Proximity to Hospital Campus ? 1,300 feet from Mercy Health St. Elizabeth Campus
- ? Priced Below Replacement Cost ? $175.77 PPSF creates barrier to entry for new construction limiting competition from entering the market.
- ? New Lease Signed by Mercy Health ? Five Year term to commence upon completion of Landlord improvements
- ? Consistent Rent Growth ? Fresenius rent increases 3.5% Annually ? Mercy Health rent increases 2% Annually
- ? Excellent Historical Occupancy ? Fresenius has occupied for 34 Years
- ? Synergistic Tenant Mix ? Nephrology Practice Refers Patients to Dialysis Clinic
Executive Summary
? Fully Occupied Medical Office with Proximity to Hospital Campus
? 1,300 feet from Mercy Health St. Elizabeth Campus
? Consistent Rent Growth
? Fresenius rent increases 3.5% Annually
? Mercy Health rent increases 2% Annually
? Priced Below Replacement Cost
? $175.77 PPSF creates barrier to entry for new construction limiting competition from entering the market.
? Excellent Historical Occupancy
? Fresenius has occupied for 34 Years
? New Lease Signed by Mercy Health
? Five Year term to commence upon completion of Landlord improvements
? Synergistic Tenant Mix
? Nephrology Practice Refers Patients to Dialysis Clinic
? Freestanding Medical Facility on Large Parcel
? Provides Visitors Easy Access and Ample Parking
? Anchor Tenant is Largest Dialysis Treatment Company Globally
? Fresenius Revenue Exceeds $19B Annually
? NYSE: FMS
? 1,300 feet from Mercy Health St. Elizabeth Campus
? Consistent Rent Growth
? Fresenius rent increases 3.5% Annually
? Mercy Health rent increases 2% Annually
? Priced Below Replacement Cost
? $175.77 PPSF creates barrier to entry for new construction limiting competition from entering the market.
? Excellent Historical Occupancy
? Fresenius has occupied for 34 Years
? New Lease Signed by Mercy Health
? Five Year term to commence upon completion of Landlord improvements
? Synergistic Tenant Mix
? Nephrology Practice Refers Patients to Dialysis Clinic
? Freestanding Medical Facility on Large Parcel
? Provides Visitors Easy Access and Ample Parking
? Anchor Tenant is Largest Dialysis Treatment Company Globally
? Fresenius Revenue Exceeds $19B Annually
? NYSE: FMS
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
26,611 SF
Building Class
B
Year Built
1950
Price
$4,150,000
Price Per SF
$155.95
Cap Rate
8%
NOI
$331,919
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
13,306 SF
Building FAR
0.41
Lot Size
1.50 AC
Opportunity Zone
Yes
Zoning
MU-C
Parking
100 Spaces (3.76 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
1 1
Property Taxes
| Parcel Number | 53-079-0-523.00-0 | Improvements Assessment | $672,700 |
| Land Assessment | $42,810 | Total Assessment | $715,510 |
Property Taxes
Parcel Number
53-079-0-523.00-0
Land Assessment
$42,810
Improvements Assessment
$672,700
Total Assessment
$715,510
Contacts
-
Christopher Biuso -
Spencer Koch -
Scott Gould -
Rory Shelby -
Caitlin Lancaster -
Marcus & Millichap
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Multi-Tenant Fresenius MOB | 1340 Belmont Ave
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