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Office Medical

SSM Physical Therapy

4964 Benchmark Centre Dr, Swansea, IL 62226

Listing Price: $1,250,000

Cap Rate
8.00%
Gross SF
7,200
Rentable SF
7,200
Price/Gross SF
$173.61
Occupancy
100.0%
Year Built
2007
Lot Size
0.98 acres

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a Single Tenant Medical Office Building Fully Occupied By SSM Health Physical Therapy (“The Property”) located in
Swansea, IL.

The Property features a recent 7-year lease with SSM Health Physical Therapy, who bought out Benchmark Physical Therapy at this location in 2023. The lease is double net with the tenant responsible for Taxes, Insurance, and some CAM expenses. The lease is at a below market $14.41 PSF, which provides upside potential through the option rent which jumps to Full Market Value in 2035.

The 7,200 SF building was built in 2007 with state-of-the-art physical therapy and aquatic therapy pools providing a multi-specialty physical therapy hub. SSM Physical Therapy currently operates 80 Physical Therapy locations under their SSM Select Rehab St. Louis subsidiary which guarantees this lease. This is a growing branch of SSM Health which is one of the top not-for-profit health systems in America.

The Property is located in Swansea IL, a wealthy city in the eastern portion of the St. Louis MSA with very strong real estate fundamentals. The trade area has more than 30,000,000 square feet of office and retail space which is more than 95% occupied.

The Property is offered for sale at an 8.00% cap rate totaling $1,250,000.

Investment Highlights

  • Freestanding Built-to-Suit Physical Therapist and Aquatic Therapy |7,200 SF
  • A+ Credit Rating Tenant | SSM Health Has Over 1,880 locations in Illinois, Missouri, Oklahoma, and Wisconsin | SSM Employs 11,000 Providers and Nearly 39,000 Employees
  • Affluent Area: Two-Mile Average Household Income is $108,694

Exclusively Listed By

  • Jacob Dunaway

    Associate

    (314) 889-2553

    Email Jacob

    License(s): MO: 2023024767

    St. Louis

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Office Medical

SSM Physical Therapy

Listing Price: $1,250,000

Cap Rate
8.00%
Gross SF
7,200
Rentable SF
7,200
Price/Gross SF
$173.61
Occupancy
100.0%
Year Built
2007
Lot Size
0.98 acres

Investment Highlights

  • Freestanding Built-to-Suit Physical Therapist and Aquatic Therapy |7,200 SF
  • A+ Credit Rating Tenant | SSM Health Has Over 1,880 locations in Illinois, Missouri, Oklahoma, and Wisconsin | SSM Employs 11,000 Providers and Nearly 39,000 Employees
  • Affluent Area: Two-Mile Average Household Income is $108,694

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a Single Tenant Medical Office Building Fully Occupied By SSM Health Physical Therapy (“The Property”) located in Swansea, IL. The Property features a recent 7-year lease with SSM Health Physical Therapy, who bought out Benchmark Physical Therapy at this location in 2023. The lease is double net with the tenant responsible for Taxes, Insurance, and some CAM expenses. The lease is at a below market $14.41 PSF, which provides upside potential through the option rent which jumps to Full Market Value in 2035. The 7,200 SF building was built in 2007 with state-of-the-art physical therapy and aquatic therapy pools providing a multi-specialty physical therapy hub. SSM Physical Therapy currently operates 80 Physical Therapy locations under their SSM Select Rehab St. Louis subsidiary which guarantees this lease. This is a growing branch of SSM Health which is one of the top not-for-profit health systems in America. The Property is located in Swansea IL, a wealthy city in the eastern portion of the St. Louis MSA with very strong real estate fundamentals. The trade area has more than 30,000,000 square feet of office and retail space which is more than 95% occupied. The Property is offered for sale at an 8.00% cap rate totaling $1,250,000.

Exclusively Listed By

  • Jacob Dunaway

    Associate

    (314) 889-2553

    Email Jacob

    License(s): MO: 2023024767

    St. Louis

  • Alex Perez

    First Vice President Investments

    (314) 889-2525

    Email Alex

    License(s): MO: 2000163389 , NE: 20230231, IL: 475199830, AL: 000164341 - 0

    St. Louis

  • Chris Garavaglia

    First Vice President Investments

    (314) 889-2552

    Email Chris

    License(s): MO: 2015042068, NE: 20240127

    St. Louis

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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