Single-Tenant Office Medical
University Hospitals Urgent Care by WellStreet
1407 W 117th St, Cleveland, OH 44107
Listing Price: $3,478,000
Investment Overview
University Hospitals Urgent Care by WellStreet 10-Year Lease in Cleveland, Ohio. Irreplaceable Hard Corner Site; Located at Signalized Intersection of Two Arterials with a Combined 22,200 VPD. Just One-Mile North of I-90 Exit Ramps (I-90 = 128,000 VPD). Excellent Visibility via Zero Setback from Both Roadways and Prominent Storefront Façade & Signage. Hyperdense, Middle-Income Trade Area – Huge 25,120 Population and 14,100 Households in a One-Mile Radius; $68K/Three-Mi AHHI. W 117th Street Corridor – Major Daily Needs Retail/Services Corridor with Major Traffic Drivers Including Target, Home Depot, Giant Eagle, Aldi, GFS, and Numerous QSR & Auto Parts/Service Businesses.
University Hospitals Urgent Care by WellStreet
Investment Highlights
- University Hospitals Urgent Care by WellStreet 10-Year Lease in Cleveland, Ohio
- New 2024 Build-to-Suit Construction; Class "A" Quality with 4-Sided Masonry Exterior
- Excellent Visibility via Zero Setback from Both Roadways and Prominent Storefront Façade & Signage
- Landlord-Favorable Double-Net "Plus" Lease; Landlord Responsible for Replacement of Roof Only (2024-Installed with 20-Year Transferrable Warranty)
- Passive Investment: Tenant Pays Taxes Direct, Self-Maintains CAM, and is Responsible for All Maint/Repair/CapEx Except Roof Replacement and Structure
- 9 Percent Rent Increase in 2029 and 12 Percent Rent Increases in Options
- Lessee is a JV Partnership between University Hospitals (UH) and WellStreet Urgent Care with 20+ Urgent Care Units in Operation
- UH & WellStreet JV Partnership Proven Successful by Impressive Rollout of 20+ Freestanding New-Build, Freestanding Retrofit, and Inline/Shopping Center Urgent Care Clinics throughout the Cleveland MSA in the Past 2 Years
Single-Tenant Office Medical
University Hospitals Urgent Care by WellStreet
Listing Price: $3,478,000
Investment Highlights
- University Hospitals Urgent Care by WellStreet 10-Year Lease in Cleveland, Ohio
- New 2024 Build-to-Suit Construction; Class "A" Quality with 4-Sided Masonry Exterior
- Excellent Visibility via Zero Setback from Both Roadways and Prominent Storefront Façade & Signage
- Landlord-Favorable Double-Net "Plus" Lease; Landlord Responsible for Replacement of Roof Only (2024-Installed with 20-Year Transferrable Warranty)
- Passive Investment: Tenant Pays Taxes Direct, Self-Maintains CAM, and is Responsible for All Maint/Repair/CapEx Except Roof Replacement and Structure
- 9 Percent Rent Increase in 2029 and 12 Percent Rent Increases in Options
- Lessee is a JV Partnership between University Hospitals (UH) and WellStreet Urgent Care with 20+ Urgent Care Units in Operation
- UH & WellStreet JV Partnership Proven Successful by Impressive Rollout of 20+ Freestanding New-Build, Freestanding Retrofit, and Inline/Shopping Center Urgent Care Clinics throughout the Cleveland MSA in the Past 2 Years
Investment Overview
University Hospitals Urgent Care by WellStreet 10-Year Lease in Cleveland, Ohio. Irreplaceable Hard Corner Site; Located at Signalized Intersection of Two Arterials with a Combined 22,200 VPD. Just One-Mile North of I-90 Exit Ramps (I-90 = 128,000 VPD). Excellent Visibility via Zero Setback from Both Roadways and Prominent Storefront Façade & Signage. Hyperdense, Middle-Income Trade Area – Huge 25,120 Population and 14,100 Households in a One-Mile Radius; $68K/Three-Mi AHHI. W 117th Street Corridor – Major Daily Needs Retail/Services Corridor with Major Traffic Drivers Including Target, Home Depot, Giant Eagle, Aldi, GFS, and Numerous QSR & Auto Parts/Service Businesses.
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