Investment Overview

Marcus & Millichap is pleased to present to market available for sale the Englewood Medical Office – a fully-occupied Class-B medical office building built in 2007. The Subject Property is a multi-tenant 11,212 square foot asset, located in Englewood, OH. Englewood Medical provides a stable rent roll with 78% of the GLA leased through 2027, while offering value-add potential through the re-leasing of below market rents and recapturing of expense that current ownership has not utilized. Market: Englewood Medical Office is located in the north Dayton Submarket. The city of Dayton has been named the 2nd best city to live in Ohio in 2022-2023, according to U.S. News & World Report. The young and growing city of Dayton has a median age of 33.5, according to the US Census. Dayton is the home to a wide variety of employment opportunities with the Wright-Patterson Air Force Base being the largest in the city, along with hospital & healthcare systems rounding out the top 3. Location: Englewood Medical is strategically located on West Wenger Road, just seconds away from the on-ramp to major highway I-70, connecting the city of Dayton to both Indianapolis and Columbus. Within minutes from leaving the subject property, you can arrive at the Miami Valley Hospital North Campus, one of the major hospital subsidiaries in the Dayton area. The immediate intersection connecting West Wenger Road and North Main Street is home to ample healthcare, children's care services, retail, restaurants, and hotels. The city of Dayton, OH is conveniently located as a central hub to 3 major cities within a 2-hour drive. Indianapolis, IN (116 Miles), Columbus, OH (71 Miles), and Cincinnati, OH (54 Miles). Property Features: Englewood Medical is one of the premier medical facilities in the area that couples immediate highway access and an abundance of on-site parking. The Subject Property is situated on roughly 1.9 acres per the county assessor’s website and features 85 parking spaces for patients and medical professionals. There is a clear demand for medical users in the immediate North Dayton market as the vacancy rate for medical properties sits just about 8%. Vacancy, in the submarket has been trending downward since Q3 of 2021, creating a constant demand in the area, even throughout the Pandemic. Stable Current Tenant Mix: Englewood Medical Office is currently fully occupied by a strong mix of medical tenants. The Class-B Medical space includes an OB/GYN, Women’s Health Center, and primary health care practice. Over 78 percent of the current tenant mix has recently executed a new 5-year lease providing a stable cash flow for future investors. Why Englewood Medical Office? With a stable in-place cash flow secured by a strong mix of medical tenants whose recent lease-up of the Property showcases the consistent demand for the location and use. Englewood Medical is a rare opportunity for an Investor to capitalize on strong and very stable cash flow with upside potential in both re-leasing the current tenants and raising their rents to market value, as well as conversion of one lease to a more traditional NNN lease structure for medical tenants.