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Single-Tenant Office Medical

Premier Care of Indiana

309 S Norton Ave, Marion, IN 46952

Listing Price: $996,006

Cap Rate
9.00%
Tenant Name
Premier Care of Indiana
Years Remaining On Lease
2.0
Gross SF
8,500
Guarantor
No Guarantee
Rentable SF
8,500
Price/Gross SF
$117.18
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.70

Investment Overview

Marcus & Millichap is pleased to present 309-319 South Norton Avenue in Marion, Indiana. This single tenant medical office asset offers 8,500-square-feet of 2004 construction. The site is occupied by Community Medical Services otherwise known as Premier Care of Indiana. The Care Center operates under a triple-net lease structure, with lease term through 2023, and two, five-year options. Additionally, the lease features three percent annual base rent increases, providing an excellent hedge against inflationary pressures. Premier Care is an accredited outpatient treatment center with the focus of opioid treatment and part of the Community Medical Services organization. Community Medical Services operates in nine states totaling forty-six locations. Within five miles of the subject location, there are nearly 15,000 households earning an average income of $55,000. This property offers an investor the opportunity to acquire a stabilized, triple-net medical office facility backed by a large healthcare organization. Lease term of over two years remaining and five-year options on the backend of their lease. Tenants providing the rehabilitation services Premier Care does, tend to stay where they are as it can be difficult to relocate due to their patient base.

Investment Highlights

  • Passive Triple Net Lease Structure
  • Three Percent Annual Base Rent Increase
  • Two, Five-Year Options

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Single-Tenant Office Medical

Premier Care of Indiana

Listing Price: $996,006

Cap Rate
9.00%
Tenant Name
Premier Care of Indiana
Years Remaining On Lease
2.0
Gross SF
8,500
Guarantor
No Guarantee
Rentable SF
8,500
Price/Gross SF
$117.18
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$10.70

Investment Highlights

  • Passive Triple Net Lease Structure
  • Three Percent Annual Base Rent Increase
  • Two, Five-Year Options

Investment Overview

Marcus & Millichap is pleased to present 309-319 South Norton Avenue in Marion, Indiana. This single tenant medical office asset offers 8,500-square-feet of 2004 construction. The site is occupied by Community Medical Services otherwise known as Premier Care of Indiana. The Care Center operates under a triple-net lease structure, with lease term through 2023, and two, five-year options. Additionally, the lease features three percent annual base rent increases, providing an excellent hedge against inflationary pressures. Premier Care is an accredited outpatient treatment center with the focus of opioid treatment and part of the Community Medical Services organization. Community Medical Services operates in nine states totaling forty-six locations. Within five miles of the subject location, there are nearly 15,000 households earning an average income of $55,000. This property offers an investor the opportunity to acquire a stabilized, triple-net medical office facility backed by a large healthcare organization. Lease term of over two years remaining and five-year options on the backend of their lease. Tenants providing the rehabilitation services Premier Care does, tend to stay where they are as it can be difficult to relocate due to their patient base.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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