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Single-Tenant Office Medical

Signature Behavioral Health Ashtabula

4726 Main Ave, Ashtabula, OH 44004

Listing Price: $5,590,000

Cap Rate
7.00%
Tenant Name
Signature Health
Years Remaining On Lease
6.5
Guarantor
Private Guarantee
Rentable SF
45,851
Lease Type
Double Net
Rent Per Square Feet
$8.53

Investment Overview

Marcus & Millichap is Pleased to Present the Signature Health Center Located in the Historic Ashtabula Hotel. This Six Story 45,851 Square Foot Building was Originally Constructed in 1930 as a Hotel in Downtown Ashtabula, Ohio. It was Purchased in 2003 and Remains a Historic Landmark. Due to it’s Historic Classification, it Underwent a Full Rehab in 2013. Since then, the Building Continues to Remain in Good Health. Signature Health is Responsible for all Maintenance and Expenses Associated with the Property Except Roof, Structure, Parking Lot, and HVAC Replacement. Outpatient Programs at the Facility Provide a Wide Range of Psychiatric Counseling and Case Management Services Including Diagnostic Assessments, Psychiatry, Partial Hospitalization, Mental Health, Substance Abuse Treatment, Case Management, Individual Counseling, Marital Counseling, Behavior Therapy, Group Therapy, Pharmacy, Lab Services, Integrated Medicine, and Suboxone Treatment.

Investment Highlights

  • Tenant is a Leader in Mental Health, Primary Care, and Substance Abuse Rehabilitation Services in Northeast Ohio.
  • Tenant Expanded 15 Percent Into Unleased Space Within Building, Reinforcing Long Term Commitment.
  • 6.7 Year Remaining on Lease, with Two – Five Year Options.
  • Signature Health Ashtabula is Companies Most Profitable Location, $20+ Million of Companies $89 Million Total 2021 Net Revenue.
  • Minimal Landlord Responsibility.
  • Fully Renovated in 2013.

Exclusively Listed By

Financing By

Single-Tenant Office Medical

Signature Behavioral Health Ashtabula

Listing Price: $5,590,000

Cap Rate
7.00%
Tenant Name
Signature Health
Years Remaining On Lease
6.5
Guarantor
Private Guarantee
Rentable SF
45,851
Lease Type
Double Net
Rent Per Square Feet
$8.53

Investment Highlights

  • Tenant is a Leader in Mental Health, Primary Care, and Substance Abuse Rehabilitation Services in Northeast Ohio.
  • Tenant Expanded 15 Percent Into Unleased Space Within Building, Reinforcing Long Term Commitment.
  • 6.7 Year Remaining on Lease, with Two – Five Year Options.
  • Signature Health Ashtabula is Companies Most Profitable Location, $20+ Million of Companies $89 Million Total 2021 Net Revenue.
  • Minimal Landlord Responsibility.
  • Fully Renovated in 2013.

Investment Overview

Marcus & Millichap is Pleased to Present the Signature Health Center Located in the Historic Ashtabula Hotel. This Six Story 45,851 Square Foot Building was Originally Constructed in 1930 as a Hotel in Downtown Ashtabula, Ohio. It was Purchased in 2003 and Remains a Historic Landmark. Due to it’s Historic Classification, it Underwent a Full Rehab in 2013. Since then, the Building Continues to Remain in Good Health. Signature Health is Responsible for all Maintenance and Expenses Associated with the Property Except Roof, Structure, Parking Lot, and HVAC Replacement. Outpatient Programs at the Facility Provide a Wide Range of Psychiatric Counseling and Case Management Services Including Diagnostic Assessments, Psychiatry, Partial Hospitalization, Mental Health, Substance Abuse Treatment, Case Management, Individual Counseling, Marital Counseling, Behavior Therapy, Group Therapy, Pharmacy, Lab Services, Integrated Medicine, and Suboxone Treatment.

Exclusively Listed By

Financing By

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