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Miscellaneous

Next Level Urgent Care (Adjacent to UT Austin Campus)

3221 Red River St, Austin, TX 78705

Listing Price: $3,010,000

Cap Rate
4.75%
Tenant Name
Next Level Urgent Care
Years Remaining On Lease
10.1
Gross SF
4,205
Guarantor
Corporate Guarantee
Rentable SF
4,205
Price/Gross SF
$715.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.00

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Next Level Urgent Care in Austin, Texas. The property consists of a 4,205-square-foot building that sits on approximately 0.25 acres of land. The tenant signed a new 10-year lease, with 2.5% annual rental escalations and two, five-year options. The property has excellent access and visibility on Red River Street, in a dense commercial corridor along Interstate 35 (217,234 vehicles per day). The area is extremely dense with more than 376,408 residents within a five-mile radius. It is estimated that the population will be 408,156 five years from now, which represents a change of 8.43% from the current year.

Investment Highlights

  • New 10-Year Triple-Net Lease with a Corporate Guarantee
  • Adjacent to The University of Texas at Austin (50,000 Students and 14,400 Employees)
  • Located in a Dense Commercial Corridor Along Interstate 35 (217,234 VPD)
  • 2.5% Annual Rental Escalations
  • Huge Daytime Population of 668,669, a 77% Increase over the Residential Population
  • Infill Austin, TX Location - More than 376,408 Residents Within a Five-Mile Radius
  • 2022 Construction - 4,205-SF Medical Building a Block from St. David's Medical Center
  • Fast-Growing Brand - Next Level Medical, LLC Operates 25 Locations and has 19 More Locations in Development

Exclusively Listed By

Miscellaneous

Next Level Urgent Care (Adjacent to UT Austin Campus)

Listing Price: $3,010,000

Cap Rate
4.75%
Tenant Name
Next Level Urgent Care
Years Remaining On Lease
10.1
Gross SF
4,205
Guarantor
Corporate Guarantee
Rentable SF
4,205
Price/Gross SF
$715.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$34.00

Investment Highlights

  • New 10-Year Triple-Net Lease with a Corporate Guarantee
  • Adjacent to The University of Texas at Austin (50,000 Students and 14,400 Employees)
  • Located in a Dense Commercial Corridor Along Interstate 35 (217,234 VPD)
  • 2.5% Annual Rental Escalations
  • Huge Daytime Population of 668,669, a 77% Increase over the Residential Population
  • Infill Austin, TX Location - More than 376,408 Residents Within a Five-Mile Radius
  • 2022 Construction - 4,205-SF Medical Building a Block from St. David's Medical Center
  • Fast-Growing Brand - Next Level Medical, LLC Operates 25 Locations and has 19 More Locations in Development

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Next Level Urgent Care in Austin, Texas. The property consists of a 4,205-square-foot building that sits on approximately 0.25 acres of land. The tenant signed a new 10-year lease, with 2.5% annual rental escalations and two, five-year options. The property has excellent access and visibility on Red River Street, in a dense commercial corridor along Interstate 35 (217,234 vehicles per day). The area is extremely dense with more than 376,408 residents within a five-mile radius. It is estimated that the population will be 408,156 five years from now, which represents a change of 8.43% from the current year.

Exclusively Listed By

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