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Single-Tenant Office Medical

PriMed Physicians

948 Patterson Rd, Dayton, OH 45419

Listing Price: $1,285,000

Cap Rate
8.00%
Tenant Name
PriMed Physicians
Years Remaining On Lease
0.6
Gross SF
6,000
Guarantor
Corporate Guarantee
Rentable SF
6,000
Price/Gross SF
$214.17
Lease Type
Double Net
Rent Per Square Feet
$17.13

Investment Overview

Marcus & Millichap is pleased to present the fee-simple ownership interest in 948 Patterson Road Dayton, Ohio. The subject property is a single-tenant net leased medical office consisting of 6,000-square-feet fully utilized by PriMed Physicians. PriMed has operated out of this location for 15 years and has 1-Year of lease term remaining with automatic 1-Year renewal options. This is triple net lease limiting landlord responsibilities to repair and replacement of roof and structure and features 1.5 percent annual rent increases. PriMed is an independent physician-owned medical group founded in 1995 based out of Dayton, OH. They currently have nine locations and specialize in Family Practice, Internal Medicine, Neurology, Pediatrics, and Research. At the subject property, PriMed operates a clinical research site. This group participates in clinical research programs with the goal of discovering new ways to prevent, detect, or treat diseases. This location was selected by Pfizer and BioNTech to be one of 60 locations used in clinical vaccine trials for COVID-19. Dayton is in southwest Ohio approximately one hour north of Cincinnati and one hour west of Columbus. The site is strategically positioned with frontage to Patterson Road which sees over 10,000 vehicles per day and just off the intersection with Wilmington Avenue which sees nearly 22,000 vehicles per day. This is a densely populated residential area with a population of 216,000 within five miles. The average household income in this area is $71,000. Notable commercial tenants nearby include Rite Aid, Tim Hortons, Ace Hardware and more. This region of Ohio is known for its healthcare with metro hospitals consistently earning top national rankings and recognition. The University of Dayton and Wright State University provide a steady flow of young and educated professionals. This property offers an investor the opportunity to acquire a net-leased, passive single-tenant medical office facility backed by an independent, physician owned medical group with 27 years of operating history.

Investment Highlights

  • Corporate Guarantee
  • Minimal Landlord Responsibility (Roof & Structure)
  • 1.5 % Annual Rental Increases
  • Automatic 1-Year Renewals
  • PriMed Physicians began serving the Communities of the Miami Valley in 1995
  • Dayton is located at the Crossroads of America
  • PriMed Physicians has 50 Physicians practicing in 13 locations

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s) OH: BRK.2007005898

    Ohio

Single-Tenant Office Medical

PriMed Physicians

Listing Price: $1,285,000

Cap Rate
8.00%
Tenant Name
PriMed Physicians
Years Remaining On Lease
0.6
Gross SF
6,000
Guarantor
Corporate Guarantee
Rentable SF
6,000
Price/Gross SF
$214.17
Lease Type
Double Net
Rent Per Square Feet
$17.13

Investment Highlights

  • Corporate Guarantee
  • Minimal Landlord Responsibility (Roof & Structure)
  • 1.5 % Annual Rental Increases
  • Automatic 1-Year Renewals
  • PriMed Physicians began serving the Communities of the Miami Valley in 1995
  • Dayton is located at the Crossroads of America
  • PriMed Physicians has 50 Physicians practicing in 13 locations

Investment Overview

Marcus & Millichap is pleased to present the fee-simple ownership interest in 948 Patterson Road Dayton, Ohio. The subject property is a single-tenant net leased medical office consisting of 6,000-square-feet fully utilized by PriMed Physicians. PriMed has operated out of this location for 15 years and has 1-Year of lease term remaining with automatic 1-Year renewal options. This is triple net lease limiting landlord responsibilities to repair and replacement of roof and structure and features 1.5 percent annual rent increases. PriMed is an independent physician-owned medical group founded in 1995 based out of Dayton, OH. They currently have nine locations and specialize in Family Practice, Internal Medicine, Neurology, Pediatrics, and Research. At the subject property, PriMed operates a clinical research site. This group participates in clinical research programs with the goal of discovering new ways to prevent, detect, or treat diseases. This location was selected by Pfizer and BioNTech to be one of 60 locations used in clinical vaccine trials for COVID-19. Dayton is in southwest Ohio approximately one hour north of Cincinnati and one hour west of Columbus. The site is strategically positioned with frontage to Patterson Road which sees over 10,000 vehicles per day and just off the intersection with Wilmington Avenue which sees nearly 22,000 vehicles per day. This is a densely populated residential area with a population of 216,000 within five miles. The average household income in this area is $71,000. Notable commercial tenants nearby include Rite Aid, Tim Hortons, Ace Hardware and more. This region of Ohio is known for its healthcare with metro hospitals consistently earning top national rankings and recognition. The University of Dayton and Wright State University provide a steady flow of young and educated professionals. This property offers an investor the opportunity to acquire a net-leased, passive single-tenant medical office facility backed by an independent, physician owned medical group with 27 years of operating history.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (614) 360-9800

    License(s): OH: BRK.2007005898

    Ohio

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