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Miscellaneous

AdaptHealth Corporate Guarantee (NASDAQ: ACHO) Greeneville

1413 Tusculum Blvd, Greeneville, TN 37745

Listing Price: $576,000

Cap Rate
6.25%
Tenant Name
AdaptHealth
Years Remaining On Lease
8.6
Guarantor
Corporate Guarantee
Rentable SF
4,728
Lease Type
Double Net
Rent Per Square Feet
$7.61

Investment Overview

Marcus & Millichap is pleased to present for sale this AdaptHealth single tenant net leased medical property located at 1413 Tusculum Blvd, Greenville, Tennessee. The subject property consists of 4,728 square feet of gross leasable area on a 0.48 acre parcel of land. The tenant, AdaptHealth (NASDAQ: AHCO) has recently signed a 5-year lease extension with a corporate guarantee. AdaptHealth AdaptHealth is a full-service home medical equipment company that uses tailored products and services to empower patients to live their fullest lives – out of the hospital and in their homes. Greenville Community Hospital, Laughlin Medical Hospital, and Trinities Cancer Clinic are across the street from the property, providing a highly reliable and consistent source of business for the tenant. On a corporate level AdaptHealth has experienced a significant increase in revenue since the COVID-19 pandemic hit, providing valuable support throughout the public health crisis. The double net lease has minimal landlord responsibilities, limited to roof and structure. The tenant has been occupying the property since 2015, and consistently extending the lease in 5-year periods. Most recently in November 2021, the lease was extended for an additional 5-years (ending 12/31/2026), with one 5-year renewal option. The current rent at $9 per square foot is well below market pricing for corporate tenants in this area. Strategically located on Route 11 (Tusculum Blvd) between the regional medical center and primary retail corridor, the property benefits from full street frontage visible to average daily traffic counts of 10,012. National tenants in the immediate trade area include Marshall’s, Tractor Supply, Hobby Lobby, CVS, Walgreens, and many more. The population is over 46,000 within a 5-mile radius, with positive growth forecasted over the next 5-years. Greeneville is part of the Johnson City-Kingsport- Bristol TN-VA Combined Statistical Area – commonly known as the “Tri-Cities” region. This historically significant town in that lies along the foot hills of the Appalachian Mountains. Asheville North Carolina, and Knoxville are within driving distance. Tenseness is an income tax free state.

Investment Highlights

  • AdaptHealth Corporate Guarantee (NASDAQ: AHCO)
  • AdaptHealth is a Leading Provider of Health Equipment and Medical Supplies Operating in 41 States with $1.4 Billion Annual Revenue
  • Adjacent to Greenville Community Hospital, Laughlin Medical Hospital, and Trinities Cancer Clinic
  • Double Net Lease - Minimal Landlord Responsibilities
  • National Tenants in Immediate Trade Area Include Marshall's, Hobby Lobby, CVS, Walgreens, & More
  • Tennessee is an Income Tax Free State

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Miscellaneous

AdaptHealth Corporate Guarantee (NASDAQ: ACHO) Greeneville

Listing Price: $576,000

Cap Rate
6.25%
Tenant Name
AdaptHealth
Years Remaining On Lease
8.6
Guarantor
Corporate Guarantee
Rentable SF
4,728
Lease Type
Double Net
Rent Per Square Feet
$7.61

Investment Highlights

  • AdaptHealth Corporate Guarantee (NASDAQ: AHCO)
  • AdaptHealth is a Leading Provider of Health Equipment and Medical Supplies Operating in 41 States with $1.4 Billion Annual Revenue
  • Adjacent to Greenville Community Hospital, Laughlin Medical Hospital, and Trinities Cancer Clinic
  • Double Net Lease - Minimal Landlord Responsibilities
  • National Tenants in Immediate Trade Area Include Marshall's, Hobby Lobby, CVS, Walgreens, & More
  • Tennessee is an Income Tax Free State

Investment Overview

Marcus & Millichap is pleased to present for sale this AdaptHealth single tenant net leased medical property located at 1413 Tusculum Blvd, Greenville, Tennessee. The subject property consists of 4,728 square feet of gross leasable area on a 0.48 acre parcel of land. The tenant, AdaptHealth (NASDAQ: AHCO) has recently signed a 5-year lease extension with a corporate guarantee. AdaptHealth AdaptHealth is a full-service home medical equipment company that uses tailored products and services to empower patients to live their fullest lives – out of the hospital and in their homes. Greenville Community Hospital, Laughlin Medical Hospital, and Trinities Cancer Clinic are across the street from the property, providing a highly reliable and consistent source of business for the tenant. On a corporate level AdaptHealth has experienced a significant increase in revenue since the COVID-19 pandemic hit, providing valuable support throughout the public health crisis. The double net lease has minimal landlord responsibilities, limited to roof and structure. The tenant has been occupying the property since 2015, and consistently extending the lease in 5-year periods. Most recently in November 2021, the lease was extended for an additional 5-years (ending 12/31/2026), with one 5-year renewal option. The current rent at $9 per square foot is well below market pricing for corporate tenants in this area. Strategically located on Route 11 (Tusculum Blvd) between the regional medical center and primary retail corridor, the property benefits from full street frontage visible to average daily traffic counts of 10,012. National tenants in the immediate trade area include Marshall’s, Tractor Supply, Hobby Lobby, CVS, Walgreens, and many more. The population is over 46,000 within a 5-mile radius, with positive growth forecasted over the next 5-years. Greeneville is part of the Johnson City-Kingsport- Bristol TN-VA Combined Statistical Area – commonly known as the “Tri-Cities” region. This historically significant town in that lies along the foot hills of the Appalachian Mountains. Asheville North Carolina, and Knoxville are within driving distance. Tenseness is an income tax free state.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

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