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Single-Tenant Office

Mercy Health - 10 Year Lease

8599 Ridge Ave, Cincinnati, OH 45236

Listing Price: $5,183,000

Cap Rate
6.15%
Tenant Name
Mercy Health Cincinnati LLC
Years Remaining On Lease
9.9
Gross SF
15,000
Guarantor
Corporate Guarantee
Rentable SF
15,000
Price/Gross SF
$345.53
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.11

Investment Overview

Bon Secours Health Systems and Mercy Health merged in September of 2018 to become Bon Secours Mercy Health, the fifth largest Catholic health care ministry in the U.S., and one of the nation’s 20 largest health care systems. With more than 1,200 care sites across seven states – Florida, Kentucky, Maryland, New York, Ohio, South Carolina, Virginia, and two countries (United States and Ireland), Mercy Health’s system has 48 hospitals, thousands of providers, and 60,000 associates. These figures include 3,000 providers in the U.S. and 450 consultants in Ireland. Cincinnati is a city in Ohio and the county seat of Hamilton County with a population of nearly 310,000. It is a livable city that offers a high quality of life for its residents. A wide range of cultural and entertainment activities can be found in Cincinnati, including the Riverbend concert arena on the banks of the Ohio River, the expanding Main Street district, as well as three major sports teams. Cincinnati is also home to the University of Cincinnati, with nearly 47,000 students.

Investment Highlights

  • 10 Years Remaining on Triple-Net (NNN) Lease with Bon Secours Mercy Health (Primary Medical Care)
  • Leasehold Provides for 100 Percent Depreciable Asset
  • Annual Rental Increases with Multiple Renewal Options
  • New 2017 Construction Purpose Built Class A Medical Office Building
  • 769,694 Residents Within a Ten-Mile Radius - Dense Cincinnati-Dayton MSA Infill
  • Excellent Visibility and Accessibility Along Ronald Reagan Cross County Hwy - 126 with Over 53,800 Cars per Day and Immediately Off of I-75 South (About 145,000 Cars per Day)
  • Impressive 5.7 / 1,000-Square-Foot Parking Ratio on Site
  • Directly Down the Street from the University of Cincinnati Reading Campus

Exclusively Listed By

Financing By

Single-Tenant Office

Mercy Health - 10 Year Lease

Listing Price: $5,183,000

Cap Rate
6.15%
Tenant Name
Mercy Health Cincinnati LLC
Years Remaining On Lease
9.9
Gross SF
15,000
Guarantor
Corporate Guarantee
Rentable SF
15,000
Price/Gross SF
$345.53
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.11

Investment Highlights

  • 10 Years Remaining on Triple-Net (NNN) Lease with Bon Secours Mercy Health (Primary Medical Care)
  • Leasehold Provides for 100 Percent Depreciable Asset
  • Annual Rental Increases with Multiple Renewal Options
  • New 2017 Construction Purpose Built Class A Medical Office Building
  • 769,694 Residents Within a Ten-Mile Radius - Dense Cincinnati-Dayton MSA Infill
  • Excellent Visibility and Accessibility Along Ronald Reagan Cross County Hwy - 126 with Over 53,800 Cars per Day and Immediately Off of I-75 South (About 145,000 Cars per Day)
  • Impressive 5.7 / 1,000-Square-Foot Parking Ratio on Site
  • Directly Down the Street from the University of Cincinnati Reading Campus

Investment Overview

Bon Secours Health Systems and Mercy Health merged in September of 2018 to become Bon Secours Mercy Health, the fifth largest Catholic health care ministry in the U.S., and one of the nation’s 20 largest health care systems. With more than 1,200 care sites across seven states – Florida, Kentucky, Maryland, New York, Ohio, South Carolina, Virginia, and two countries (United States and Ireland), Mercy Health’s system has 48 hospitals, thousands of providers, and 60,000 associates. These figures include 3,000 providers in the U.S. and 450 consultants in Ireland. Cincinnati is a city in Ohio and the county seat of Hamilton County with a population of nearly 310,000. It is a livable city that offers a high quality of life for its residents. A wide range of cultural and entertainment activities can be found in Cincinnati, including the Riverbend concert arena on the banks of the Ohio River, the expanding Main Street district, as well as three major sports teams. Cincinnati is also home to the University of Cincinnati, with nearly 47,000 students.

Exclusively Listed By

Financing By

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