Single-Tenant Office Medical
Fairbanks Urology 819 | STNL Medical | 3% Annual Increases
819 First Ave, Fairbanks, AK 99701
Listing Price: $2,550,000
Investment Overview
Marcus & Millichap 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
- Strong Rent Growth (9.4%), Low Vacancy (2.0%), and High Barrier-to-Entry Market
- Affluent Demographics / Income Tax-Free State
Exclusively Listed By
Broker of Record
Single-Tenant Office Medical
Fairbanks Urology 819 | STNL Medical | 3% Annual Increases
Listing Price: $2,550,000
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
- Strong Rent Growth (9.4%), Low Vacancy (2.0%), and High Barrier-to-Entry Market
- Affluent Demographics / Income Tax-Free State
Investment Overview
Marcus & Millichap 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.