Single-Tenant Office Medical
Signature Health - STNL Healthcare W/ ASSUMABLE DEBT @ 4% IR
4726 Main Ave, Ashtabula, OH 44004
Listing Price: $5,398,000
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.
Signature Health - STNL Healthcare W/ ASSUMABLE DEBT @ 4% IR
Investment Highlights
- Tenant "Signature Health" is a Leader in Primary Care, Mental Health, and Rehabilitation Services in Northeast Ohio
- Assumable Debt - Investment Offers an Assumable Loan at a Rate of 4 Percent. Interest Rate Does Not Float or Change
- Tenant Expanded 15 Percent Into Unleased Space within Building, Reinforcing Long Term Commitment
- Double Net Lease (NN) Offers Landlord Minimal Responsibility in 2013 Fully Redeveloped Building. (Over $1.2 Million Allocated From Government)
- Signature Health Ashtabula is the Companies Most Profitable Location, $20+ Million of the Companies $89 Million Total Net Revenue (2021)
- Flat Lease for 16.5 Years Including the Two, Five Year Renewal Options and the Building/Location is Perfect for the Type of Business
- Over the Next 16.5 Years Buyer will Collect $6,451,000 of Rent. At the End of Term, Landlord can Restructure Deal/Lease and Raise the Rent per Square Foot which is Approximately $4 Below Market Rent per Square Foot
- Little to No Locations in Ashtabula where Signature Health Could Relocate their Highest Producing Location
Exclusively Listed By
Financing By
Single-Tenant Office Medical
Signature Health - STNL Healthcare W/ ASSUMABLE DEBT @ 4% IR
Listing Price: $5,398,000
Investment Highlights
- Tenant "Signature Health" is a Leader in Primary Care, Mental Health, and Rehabilitation Services in Northeast Ohio
- Assumable Debt - Investment Offers an Assumable Loan at a Rate of 4 Percent. Interest Rate Does Not Float or Change
- Tenant Expanded 15 Percent Into Unleased Space within Building, Reinforcing Long Term Commitment
- Double Net Lease (NN) Offers Landlord Minimal Responsibility in 2013 Fully Redeveloped Building. (Over $1.2 Million Allocated From Government)
- Signature Health Ashtabula is the Companies Most Profitable Location, $20+ Million of the Companies $89 Million Total Net Revenue (2021)
- Flat Lease for 16.5 Years Including the Two, Five Year Renewal Options and the Building/Location is Perfect for the Type of Business
- Over the Next 16.5 Years Buyer will Collect $6,451,000 of Rent. At the End of Term, Landlord can Restructure Deal/Lease and Raise the Rent per Square Foot which is Approximately $4 Below Market Rent per Square Foot
- Little to No Locations in Ashtabula where Signature Health Could Relocate their Highest Producing Location
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
