Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale the Hunt Memorial Hospital District Office. Hunt County Hospital Taxing Authority funds the tenant. This triple net real estate investment is offered in a suburb of DFW, Greenville, Texas and located at 501 Air Park Ave, Greenville, Texas. The subject property offers a 15-year NNN lease effective April 1, 2022 with two 5 year renewal options at market. The lease has 3% cumulative annual rent increases over the 15-year term. The property is a single tenant building and is fully occupied by Hunt Memorial Hospital District. The Tenant will pay rent of $17.00 per square on 20,000 sq. ft. Landlord agrees that Tenant will have the exclusive right to use the additional 2,000 sq. ft (2nd floor) throughout the lease at no additional cost. 22,000 is the subject property total square foot. The Landlord has very limited responsibility for the building and per the lease - Tenant agrees to pay all real estate property taxes and shall provide Landlord proof of such payment at Landlord's request. Tenant also agrees to pay personal property taxes on equipment, furniture, fixtures, etc. that is expressly covered under this Lease. Tenant shall obtain liability insurance and replacement cost property insurance covering the value of the building at its expense and shall provide Landlord with proof of such coverage at Landlord's request. Tenant shall be responsible for payment of all utility bills including electric, gas, water, and telephone. Tenant shall be responsible for the maintenance and upkeep of the Leased Property and shall keep in good repair. Hunt Memorial Hospital District, a local hospital taxing district, has BBB+ Fitch investment grade credit rating and operates a large hospital in Greenville, Texas as well as other medical facilities across Hunt County, Texas. Before Closing the Seller will install a new roof with a transferable warranty. The Seller will also install or escrow the money for new HVAC systems at the Subject Property.