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Miscellaneous

Pinnacle Treatment Center Apartments

1 -44 South Dr, Martinsville, IN 46151

Listing Price: $6,400,000

Cap Rate
6.00%
Tenant Name
Pinnacle Treatment Center Apartments
Years Remaining On Lease
19.6
Gross SF
39,000
Guarantor
Corporate Guarantee
Rentable SF
39,000
Price/Gross SF
$164.10
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.84

Investment Overview

Marcus & Millichap is pleased to present the Pinnacle Treatment Center Sober Living Facility located in Martinsville, Indiana. The recently retro-fitted apartment complex will soon host residents for the nearby Pinnacle Treatment Center & Clinic in the spring of 2022. The complex consists of 39 units across 10 buildings totaling about 39,000sqft. The Pinnacle Treatment Center and Clinic is a brand new, build-to-suit construction of 48,688 square feet supporting 64 beds. Pinnacle signed an original 20-year lease on an absolute triple net basis leaving zero landlord responsibilities on both properties. The Sober Living Facility lease features 2.00% annual rent increases providing an excellent hedge against inflation. The property sits on 2.89 acres of land on the east side of Martinsville right next to State Route 37 and Martinsville High School. The property also enjoys access to the retail corridor along Hwy 37 including nationally branded tenants such as Walmart Supercenter, PetSmart, Arby’s, and Chili’s among others. Pinnacle Treatment Centers specialize in treatment for substance disorders. The Martinsville 64-bed campus is part of a comprehensive residential and detox recovery community providing 24/7 medical, nursing, and clinical care and therapy. Pinnacle operates over 130 locations across eight states with plans to continue growing their outreach in the coming years.

Investment Highlights

  • 39 Unit Retrofitted Apartment Complex Hosting Residents as a "Sober Living Facility"
  • 20 Year Original Lease | Rent Commencement of 2/1/2022 | Lease Features 2% Annual Increases | Excellent Hedge Against Inflation
  • Corporate Guarantor | 130+ Unit Treatment Center Operator | Plans to Continue to Grow Outreach
  • Supports the 64-Bed Comprehensive Residential Treatment Campus (1 Mile East of the Complex)
  • Over 20,000 in the Five-Mile Population
  • Excellent Positioning near Walmart Supercenter, Highway 37, and Martinsville High School

Exclusively Listed By

Miscellaneous

Pinnacle Treatment Center Apartments

Listing Price: $6,400,000

Cap Rate
6.00%
Tenant Name
Pinnacle Treatment Center Apartments
Years Remaining On Lease
19.6
Gross SF
39,000
Guarantor
Corporate Guarantee
Rentable SF
39,000
Price/Gross SF
$164.10
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$9.84

Investment Highlights

  • 39 Unit Retrofitted Apartment Complex Hosting Residents as a "Sober Living Facility"
  • 20 Year Original Lease | Rent Commencement of 2/1/2022 | Lease Features 2% Annual Increases | Excellent Hedge Against Inflation
  • Corporate Guarantor | 130+ Unit Treatment Center Operator | Plans to Continue to Grow Outreach
  • Supports the 64-Bed Comprehensive Residential Treatment Campus (1 Mile East of the Complex)
  • Over 20,000 in the Five-Mile Population
  • Excellent Positioning near Walmart Supercenter, Highway 37, and Martinsville High School

Investment Overview

Marcus & Millichap is pleased to present the Pinnacle Treatment Center Sober Living Facility located in Martinsville, Indiana. The recently retro-fitted apartment complex will soon host residents for the nearby Pinnacle Treatment Center & Clinic in the spring of 2022. The complex consists of 39 units across 10 buildings totaling about 39,000sqft. The Pinnacle Treatment Center and Clinic is a brand new, build-to-suit construction of 48,688 square feet supporting 64 beds. Pinnacle signed an original 20-year lease on an absolute triple net basis leaving zero landlord responsibilities on both properties. The Sober Living Facility lease features 2.00% annual rent increases providing an excellent hedge against inflation. The property sits on 2.89 acres of land on the east side of Martinsville right next to State Route 37 and Martinsville High School. The property also enjoys access to the retail corridor along Hwy 37 including nationally branded tenants such as Walmart Supercenter, PetSmart, Arby’s, and Chili’s among others. Pinnacle Treatment Centers specialize in treatment for substance disorders. The Martinsville 64-bed campus is part of a comprehensive residential and detox recovery community providing 24/7 medical, nursing, and clinical care and therapy. Pinnacle operates over 130 locations across eight states with plans to continue growing their outreach in the coming years.

Exclusively Listed By

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