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Single-Tenant Office Medical

Patient First | 19 Years Remain | Washington, D.C. MSA | 100% Depreciable

601 Potomac Station Dr, Leesburg, VA 20176

Listing Price: $3,719,686

Cap Rate
7.00%
Tenant Name
Patient First
Years Remaining On Lease
18.5
Guarantor
Corporate Guarantee
Rentable SF
6,914
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.66

Investment Overview

Patient First is a privately held regional chain of urgent care centers in the Mid-Atlantic region. The company, which is based in Glen Allen, Virginia, opened its first medical center in 1981 and now has 76 locations across the Mid-Atlantic. Initially opening in the Richmond area, the tenant went on a significant expansion into the Washington, DC, Baltimore, and Philadelphia markets over the last decade. In the Baltimore-Washington, DC region, the company has 34 locations with an additional site scheduled to open in Fall 2021.

Investment Highlights

  • Attractive Yield & Depreciation Benefits in Leasehold Interest
  • 19 Year-Term Corporate Lease
  • Two Percent Annual Rental Increases

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Single-Tenant Office Medical

Patient First | 19 Years Remain | Washington, D.C. MSA | 100% Depreciable

Listing Price: $3,719,686

Cap Rate
7.00%
Tenant Name
Patient First
Years Remaining On Lease
18.5
Guarantor
Corporate Guarantee
Rentable SF
6,914
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.66

Investment Highlights

  • Attractive Yield & Depreciation Benefits in Leasehold Interest
  • 19 Year-Term Corporate Lease
  • Two Percent Annual Rental Increases

Investment Overview

Patient First is a privately held regional chain of urgent care centers in the Mid-Atlantic region. The company, which is based in Glen Allen, Virginia, opened its first medical center in 1981 and now has 76 locations across the Mid-Atlantic. Initially opening in the Richmond area, the tenant went on a significant expansion into the Washington, DC, Baltimore, and Philadelphia markets over the last decade. In the Baltimore-Washington, DC region, the company has 34 locations with an additional site scheduled to open in Fall 2021.

Exclusively Listed By

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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