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Single-Tenant Office Medical

WellMed

200 W Kearney St, Mesquite, TX 75149

Listing Price: $822,517

Cap Rate
6.95%
Tenant Name
WellMed
Years Remaining On Lease
3.4
Guarantor
Corporate Guarantee
Rentable SF
3,700
Lease Type
Double Net
Rent Per Square Feet
$15.45

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a newly renovated WellMed in Mesquite, Texas. This WellMed offers a double net lease with two, five-year renewal options and one percent annual rent increases throughout the base term and option periods. In 2018, approximately $400,000 worth of renovations was put into the 3,700-square-foot building. WellMed is a multibillion-dollar revenue healthcare company serving the senior population and working hard to keep older adults healthy. Today, WellMed is a network of doctors, specialists and other medical professionals that specialize in providing care for more than 700,000 adults with over 16,000 doctors’ offices in Texas and Florida. This property is 13 miles from downtown Dallas and is part of the Dallas-Fort Worth metro area, which is the fourth-most populous metro in the nation with a total population of nearly 7.5 million residents. The immediate area has strong demographics with the population more than 240,000 within a five-mile radius of the Subject Property. The population growth in the Dallas metro in recent years ranks among the highest in the U.S. for a major metro. The average household income within three miles is $74,360. The property is within walking distance to the Dallas Regional Medical Center, which is a 202-bed hospital with nearly 400 physicians. Surrounding national retailers include Walmart Supercenter, Tractor Supply Company, Anytime Fitness, Kroger, Hobby Lobby, Old Navy, Kohl’s, Ross, PetSmart, AutoZone, O’Reilly Auto Parts, Wells Fargo, McDonald’s, Wendy’s, Arby’s, Whataburger, Chipotle, Walgreens, CVS and many more. This WellMed is five miles from Dallas College, the single-largest undergraduate college in Dallas County with more than 160,000 students across seven campuses.

Investment Highlights

  • Two, Five-Year Tenant Renewal Options; One Percent Annual Rent Increases Throughout Base Term and Option Periods
  • Property was Remolded in 2018 with $400,000 in Renovations
  • WellMed is a Multibillion-Dollar Revenue Healthcare Company Serving the Senior Population Primarily in Texas and Florida
  • WellMed is a Network of Doctors, Specialists and Other Medical Professionals Serving Over 700,000 Older Adults
  • Within Walking Distance to Dallas Regional Medical Center, a 202-Bed Hospital With Nearly 400 Physicians
  • Surrounding National Retailers Include Walmart Supercenter, Tractor Supply Company, Anytime Fitness, Kroger, Hobby Lobby, Old Navy, Kohl's, Ross, PetSmart, AutoZone, O'Reilly Auto Parts, Wells Fargo, McDonald's, Wendy's, Arby's, Whataburger, Chipotle, Walgreens, CVS and Many More

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Single-Tenant Office Medical

WellMed

Listing Price: $822,517

Cap Rate
6.95%
Tenant Name
WellMed
Years Remaining On Lease
3.4
Guarantor
Corporate Guarantee
Rentable SF
3,700
Lease Type
Double Net
Rent Per Square Feet
$15.45

Investment Highlights

  • Two, Five-Year Tenant Renewal Options; One Percent Annual Rent Increases Throughout Base Term and Option Periods
  • Property was Remolded in 2018 with $400,000 in Renovations
  • WellMed is a Multibillion-Dollar Revenue Healthcare Company Serving the Senior Population Primarily in Texas and Florida
  • WellMed is a Network of Doctors, Specialists and Other Medical Professionals Serving Over 700,000 Older Adults
  • Within Walking Distance to Dallas Regional Medical Center, a 202-Bed Hospital With Nearly 400 Physicians
  • Surrounding National Retailers Include Walmart Supercenter, Tractor Supply Company, Anytime Fitness, Kroger, Hobby Lobby, Old Navy, Kohl's, Ross, PetSmart, AutoZone, O'Reilly Auto Parts, Wells Fargo, McDonald's, Wendy's, Arby's, Whataburger, Chipotle, Walgreens, CVS and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a newly renovated WellMed in Mesquite, Texas. This WellMed offers a double net lease with two, five-year renewal options and one percent annual rent increases throughout the base term and option periods. In 2018, approximately $400,000 worth of renovations was put into the 3,700-square-foot building. WellMed is a multibillion-dollar revenue healthcare company serving the senior population and working hard to keep older adults healthy. Today, WellMed is a network of doctors, specialists and other medical professionals that specialize in providing care for more than 700,000 adults with over 16,000 doctors’ offices in Texas and Florida. This property is 13 miles from downtown Dallas and is part of the Dallas-Fort Worth metro area, which is the fourth-most populous metro in the nation with a total population of nearly 7.5 million residents. The immediate area has strong demographics with the population more than 240,000 within a five-mile radius of the Subject Property. The population growth in the Dallas metro in recent years ranks among the highest in the U.S. for a major metro. The average household income within three miles is $74,360. The property is within walking distance to the Dallas Regional Medical Center, which is a 202-bed hospital with nearly 400 physicians. Surrounding national retailers include Walmart Supercenter, Tractor Supply Company, Anytime Fitness, Kroger, Hobby Lobby, Old Navy, Kohl’s, Ross, PetSmart, AutoZone, O’Reilly Auto Parts, Wells Fargo, McDonald’s, Wendy’s, Arby’s, Whataburger, Chipotle, Walgreens, CVS and many more. This WellMed is five miles from Dallas College, the single-largest undergraduate college in Dallas County with more than 160,000 students across seven campuses.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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