Investment Overview

The subject offering is an absolute triple-net leased healthcare facility in the main medical corridor of Richmond, IN just south of the Reid Health Hospital, the main hospital for all of Wayne County. The Richmond Oral & Maxillofacial Surgical Center is a sale-leaseback opportunity that is subject to a brand-new, 10-year lease which will commence at the close of escrow. The lease structure is absolute triple-net with no landlord expense or administration responsibilities. The tenant is responsible for all common area maintenance, building maintenance, repairs, property taxes, insurance, and capital expenditures at the subject property. Current annual rent at the site is $48,213 ($14.50 PSF) and grows by $1 per square foot (approx. 7%) in year 6 of the original term & at the beginning of each five-year renewal option period. Dr. Corbin Partridge has operated out of the subject site since he purchased the practice in 2014. Richmond is the county seat community of Wayne County and is located in east central Indiana directly along Interstate 70 in between Indianapolis (IN), Dayton (OH) & Cincinnati (OH). Richmond has four colleges: Earlham College, Indiana University East, Ivy Tech Community College of Indiana, and the Purdue Polytechnic Institute - Richmond.