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Single-Tenant Office Medical

Fairbanks Urology Portfolio | STNL Medical | 3% Annual Increases

1211 Cushman St, Fairbanks, AK 99701

Listing Price: $8,345,000

Cap Rate
8.67%
Tenant Name
Fairbanks Urology
Years Remaining On Lease
8.1
Gross SF
19,328
Guarantor
Corporate Guarantee
Rentable SF
19,328
Price/Gross SF
$431.76
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.44

Investment Overview

Marcus & Millichap's Brown Retail Group has been exclusively selected to market for sale a two-property NNN medical portfolio in Fairbanks, AK. Both properties have been renovated specifically to suit the needs of Fairbanks Urology, Northern Alaska’s premier Urology/ Oncology provider. Both sites are 100% leased to the Fairbanks Urology practice, which is owned and backed by Integrated Oncology Network (ION), a leading national healthcare provider consisting of over 55 Oncology/Urology clinics across the U.S. The facilities are located just under a mile away from each other in Downtown Fairbanks. The 1211 Cushman St. property recently underwent an extensive $3.85M+ renovation and signed a new ten-year NNN lease in 2022. The 819 1st Ave property recently underwent a $300,000 renovation and signed a ten-year lease in 2020. Both properties feature rare, 3% annual rent increases resulting in an above 10% cap rate by 2029. Fairbanks Urology is the only standalone urology practice outside of the Anchorage MSA in all of Alaska; providing vital services to all of central and northern Alaska. The properties benefit from an affluent population with household incomes exceeding $101,000 within a 5-mile radius.

Investment Highlights

  • Long-Term NNN Leases
  • 3% Annual Rent Increases
  • High-Yield Investment
  • Minimal Landlord Responsibilities
  • No Urology Competition / Long-Term Stability
  • Strong Tenant - 60% Integrated Oncology Network / 40% Founding Physician Owned
  • 1211 Cushman St. $3.85M+ Property Renovation in 2022
  • 819 1st Ave Property Renovation in 2020

Exclusively Listed By

Broker of Record

  • Carlton Smith

    Broker Of Record

    (907) 463-4800

    License(s) REC B 10266

    Alaska

Financing By

Single-Tenant Office Medical

Fairbanks Urology Portfolio | STNL Medical | 3% Annual Increases

Listing Price: $8,345,000

Cap Rate
8.67%
Tenant Name
Fairbanks Urology
Years Remaining On Lease
8.1
Gross SF
19,328
Guarantor
Corporate Guarantee
Rentable SF
19,328
Price/Gross SF
$431.76
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.44

Investment Highlights

  • Long-Term NNN Leases
  • 3% Annual Rent Increases
  • High-Yield Investment
  • Minimal Landlord Responsibilities
  • No Urology Competition / Long-Term Stability
  • Strong Tenant - 60% Integrated Oncology Network / 40% Founding Physician Owned
  • 1211 Cushman St. $3.85M+ Property Renovation in 2022
  • 819 1st Ave Property Renovation in 2020

Investment Overview

Marcus & Millichap's Brown Retail Group has been exclusively selected to market for sale a two-property NNN medical portfolio in Fairbanks, AK. Both properties have been renovated specifically to suit the needs of Fairbanks Urology, Northern Alaska’s premier Urology/ Oncology provider. Both sites are 100% leased to the Fairbanks Urology practice, which is owned and backed by Integrated Oncology Network (ION), a leading national healthcare provider consisting of over 55 Oncology/Urology clinics across the U.S. The facilities are located just under a mile away from each other in Downtown Fairbanks. The 1211 Cushman St. property recently underwent an extensive $3.85M+ renovation and signed a new ten-year NNN lease in 2022. The 819 1st Ave property recently underwent a $300,000 renovation and signed a ten-year lease in 2020. Both properties feature rare, 3% annual rent increases resulting in an above 10% cap rate by 2029. Fairbanks Urology is the only standalone urology practice outside of the Anchorage MSA in all of Alaska; providing vital services to all of central and northern Alaska. The properties benefit from an affluent population with household incomes exceeding $101,000 within a 5-mile radius.

Exclusively Listed By

Broker of Record

  • Carlton Smith

    Broker Of Record

    (907) 463-4800

    License(s): REC B 10266

    Alaska

Financing By

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