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Single-Tenant Office Medical

Meritus Health System

22911 Jefferson Blvd, Smithsburg, MD 21783

Listing Price: $2,376,000

Cap Rate
7.25%
Tenant Name
Meritus Health System
Years Remaining On Lease
4.3
Gross SF
9,185
Guarantor
Corporate Guarantee
Rentable SF
9,185
Price/Gross SF
$258.68
Lease Type
Double Net
Rent Per Square Feet
$19.01

Investment Overview

Marcus & Millichap is pleased to present the fee-simple ownership interest in 22911 Jefferson Boulevard in Smithsburg, Maryland. This single-tenant medical office property is 100 percent occupied by Meritus Health System. Meritus Health operates under a desirable double-net lease structure with 5.9 years remaining on an original 10 year term. The property is positioned on a 1.81-acre parcel offering 9,189 rentable square feet. The tenant boasts an investment-grade BBB+ Fitch credit rating. The lease offers competitive two percent annual rental escalations and three, five-year renewal options. Services at the site include Pediatric and Adult Medicine serving the greater Maryland community.

This property offers an investor the opportunity to acquire a passive, single-tenant medical office asset operating under a desirable double-net lease structure. There are two percent annual rental escalations which provide an excellent hedge against inflationary pressure, coupled with a strong lease term and healthy renewal options.

Investment Highlights

  • 100 Percent Leased Office Building
  • Single-Tenant Double-Net leased Investment Opportunity
  • Two Percent Annual Rental Escalations

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) MD: 5005538

    Maryland

Single-Tenant Office Medical

Meritus Health System

Listing Price: $2,376,000

Cap Rate
7.25%
Tenant Name
Meritus Health System
Years Remaining On Lease
4.3
Gross SF
9,185
Guarantor
Corporate Guarantee
Rentable SF
9,185
Price/Gross SF
$258.68
Lease Type
Double Net
Rent Per Square Feet
$19.01

Investment Highlights

  • 100 Percent Leased Office Building
  • Single-Tenant Double-Net leased Investment Opportunity
  • Two Percent Annual Rental Escalations

Investment Overview

Marcus & Millichap is pleased to present the fee-simple ownership interest in 22911 Jefferson Boulevard in Smithsburg, Maryland. This single-tenant medical office property is 100 percent occupied by Meritus Health System. Meritus Health operates under a desirable double-net lease structure with 5.9 years remaining on an original 10 year term. The property is positioned on a 1.81-acre parcel offering 9,189 rentable square feet. The tenant boasts an investment-grade BBB+ Fitch credit rating. The lease offers competitive two percent annual rental escalations and three, five-year renewal options. Services at the site include Pediatric and Adult Medicine serving the greater Maryland community.

This property offers an investor the opportunity to acquire a passive, single-tenant medical office asset operating under a desirable double-net lease structure. There are two percent annual rental escalations which provide an excellent hedge against inflationary pressure, coupled with a strong lease term and healthy renewal options.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): MD: 5005538

    Maryland

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