Investment Overview

1200 Mountain Street is a uniquely located medical office building in Carson City, Nevada. Built in 1961 and situated upon 1.51 acres of land, the premises consist of two buildings, comprising a total of 20,632 square feet. Formerly occupied by the highly successful Carson Medical Group, this Mountain Street location helped launch their practice to require a larger facility, prompting the recent expansion to their newly constructed 5-acre site. Their services included family practice, otolaryngology (ENT), an after-hours walk-in clinic, a senior wellness program and an onsite lab. The Subject Property features two fully built-out medical facilities, each with wet exam rooms and a common reception. One of the buildings is a 3,301 square-foot, single-story single-tenant medical office. The second building includes 17,331 square feet of gross building area configured for multi-tenant use. Both buildings were originally constructed in 1961. The larger building had additions and significant renovations constructed in 1981 and 1991. The smaller building was also renovated in 1991. Both buildings have typical medical office interiors such as exam rooms, medical lab areas, reception areas, open and private office areas, break areas and other medical office amenities. A variety of capital improvements have been made to the property since 2013 including a new roof on the main building, upgraded HVAC systems, a resurfaced parking lot and other interior and exterior cosmetic upgrades. A portion of the main building has been upgraded with fire sprinkler safety systems. Surrounded by prominent and historical buildings, including the Governor’s Mansion which is just blocks away from the Subject on Mountain Street, as well as minutes from the Nevada State Capitol Complex, including the Capitol Building, the Nevada Supreme Court and the Nevada State Legislature. Directly across from the Subject Property lies the Carson Tahoe Health Specialty Medical Center, which is part of the Carson Tahoe Health system (a leading nonprofit regional hospital system in Northern Nevada) and offers a 29-bed Long-Term Acute Care Hospital, and the recently constructed Carson Tahoe Care Center and Memory Care facility, which is a joint venture between Carson Tahoe Health and Prestige Senior Living. A variety of other medical users surround the Subject. Just a half mile to North Carson Street allows great access to highways and close proximity to the surrounding cities.