Office Medical

Fresenius Anchored MOB | Value Add

1883 Hwy 43 S, Canton, MS 39046

Listing Price: $5,250,000

Cap Rate
3.89%
Gross SF
44,095
Rentable SF
44,095
Price/Gross SF
$119.06
Year Built
2005
Lot Size
3.87 acres

Investment Overview

Marcus & Millichap is pleased to present this Value-Add Fresenius Anchored Medical Office Building, located in Canton, MS. The subject property was constructed in 2005 and it is situated 28 miles North of the capital Jackson, which is also the most populous city in the State. The area is home to one of Nissan North America's car manufacturing plants, which employs approximately 6,000 workers and Amazon also recently purchased 69 acres with plans to build a large distribution center.

The building is a 44,095 SF multi-tenant medical office building located at 1883 Highway 43 S. Fresenius (BBB credit rated) is the anchor tenant in the project and they have over 13 years remaining on their lease. Fresenius additionally has a Certificate of Need (CON) for their use in this project. One of the other tenants, Dr. Truly, is also the mayor of Canton, MS.

The subject property's vacant suites are all 2nd generation spaces and are ready to lease, with only minor TI work required. There is also a large fully built-out vacant surgery center and the State recently indicated that they would allow a multi-specialty surgery center use at this location, making it much easier to lease out. M&M analysis projects that the pro forma cap rate will be an extremely attractive 12.32% at 90% occupancy.

The subject property offers a unique opportunity for a value-add investor to acquire a long term leased MOB with credit, stable current tenancy, a low price per SF and the potential for massive pro forma returns via future lease-up.

Investment Highlights

  • Unique Value-Add Opportunity | 44,095 SF Medical Office Building
  • 12.32% Projected Pro Forma Cap Rate at 90% Occupancy
  • Anchored by Fresenius (BBB Credit Rating) with 13+Years Remaining on Their Lease
  • I/O Bridge Lending Available
  • Low PPSF - $119/SF
  • 2005 Construction

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

Office Medical

Fresenius Anchored MOB | Value Add

Listing Price: $5,250,000

Cap Rate
3.89%
Gross SF
44,095
Rentable SF
44,095
Price/Gross SF
$119.06
Year Built
2005
Lot Size
3.87 acres

Investment Highlights

  • Unique Value-Add Opportunity | 44,095 SF Medical Office Building
  • 12.32% Projected Pro Forma Cap Rate at 90% Occupancy
  • Anchored by Fresenius (BBB Credit Rating) with 13+Years Remaining on Their Lease
  • I/O Bridge Lending Available
  • Low PPSF - $119/SF
  • 2005 Construction

Investment Overview

Marcus & Millichap is pleased to present this Value-Add Fresenius Anchored Medical Office Building, located in Canton, MS. The subject property was constructed in 2005 and it is situated 28 miles North of the capital Jackson, which is also the most populous city in the State. The area is home to one of Nissan North America's car manufacturing plants, which employs approximately 6,000 workers and Amazon also recently purchased 69 acres with plans to build a large distribution center.

The building is a 44,095 SF multi-tenant medical office building located at 1883 Highway 43 S. Fresenius (BBB credit rated) is the anchor tenant in the project and they have over 13 years remaining on their lease. Fresenius additionally has a Certificate of Need (CON) for their use in this project. One of the other tenants, Dr. Truly, is also the mayor of Canton, MS.

The subject property's vacant suites are all 2nd generation spaces and are ready to lease, with only minor TI work required. There is also a large fully built-out vacant surgery center and the State recently indicated that they would allow a multi-specialty surgery center use at this location, making it much easier to lease out. M&M analysis projects that the pro forma cap rate will be an extremely attractive 12.32% at 90% occupancy.

The subject property offers a unique opportunity for a value-add investor to acquire a long term leased MOB with credit, stable current tenancy, a low price per SF and the potential for massive pro forma returns via future lease-up.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

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