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Office Medical

Lake Ambulatory Care Center

9500 Mentor Ave, Mentor, OH 44060

Listing Price: $10,795,000

Cap Rate
6.50%
Rentable SF
49,556
Occupancy
92.1%
Year Built
1991
Lot Size
5.94 acres

Investment Overview

Marcus & Millichap is pleased to present Lake Ambulatory Care Center. The multi-tenant medical office building, triple-net leased property, is approximately 92 percent occupied by eight tenants, with leases extended until 2028. The asset provides the new investor the opportunity to own approximately 49,556 square feet of medical use space, sitting in a popular shopping and office location of Mentor, Ohio. The property is currently leased to eight tenants, all of which specialize in the health care industry. Lake Health stands as the anchor tenant occupying 47 percent of the asset with a lease extending to 2028. The remainder of the building is occupied by Northcoast Laser Cosmetics (laser medicine/surgery), Lake Orthopaedic Associates, Inc., Lake OB/GYN, Dr. Roger Espinosa (doctor of cardiology), Lake County Dental, North Coast Endoscopy, and Dr. Siminovitch (doctor of urology). The site of the subject property sits in Mentor, Ohio, approximately 25 miles north of Cleveland and across the street from the area’s nearest hospital, University Hospitals Mentor Health Center (https://lakehealth.org/location/mentor-campus/). In addition, the property’s location has a positive demographic profile, with an average household income of approximately $82,644 within one mile of the property and an estimated population of 102,130 within five miles of the property.

Investment Highlights

  • Lake Health Stands as the Largest Tenant and Just Recently Merged with University Hospital's Health System, Which has a Moody's Rating of A2
  • 92.1 Percent Leased Medical Office Building Located in a Popular Office/Shopping Location of Mentor, Ohio
  • The Property Sits Across the Street from Lake Health Mentor Campus, the Area's Nearest Hospital and the Same Health System as the Building's Largest Tenant

Exclusively Listed By

Financing By

Office Medical

Lake Ambulatory Care Center

Listing Price: $10,795,000

Cap Rate
6.50%
Rentable SF
49,556
Occupancy
92.1%
Year Built
1991
Lot Size
5.94 acres

Investment Highlights

  • Lake Health Stands as the Largest Tenant and Just Recently Merged with University Hospital's Health System, Which has a Moody's Rating of A2
  • 92.1 Percent Leased Medical Office Building Located in a Popular Office/Shopping Location of Mentor, Ohio
  • The Property Sits Across the Street from Lake Health Mentor Campus, the Area's Nearest Hospital and the Same Health System as the Building's Largest Tenant

Investment Overview

Marcus & Millichap is pleased to present Lake Ambulatory Care Center. The multi-tenant medical office building, triple-net leased property, is approximately 92 percent occupied by eight tenants, with leases extended until 2028. The asset provides the new investor the opportunity to own approximately 49,556 square feet of medical use space, sitting in a popular shopping and office location of Mentor, Ohio. The property is currently leased to eight tenants, all of which specialize in the health care industry. Lake Health stands as the anchor tenant occupying 47 percent of the asset with a lease extending to 2028. The remainder of the building is occupied by Northcoast Laser Cosmetics (laser medicine/surgery), Lake Orthopaedic Associates, Inc., Lake OB/GYN, Dr. Roger Espinosa (doctor of cardiology), Lake County Dental, North Coast Endoscopy, and Dr. Siminovitch (doctor of urology). The site of the subject property sits in Mentor, Ohio, approximately 25 miles north of Cleveland and across the street from the area’s nearest hospital, University Hospitals Mentor Health Center (https://lakehealth.org/location/mentor-campus/). In addition, the property’s location has a positive demographic profile, with an average household income of approximately $82,644 within one mile of the property and an estimated population of 102,130 within five miles of the property.

Exclusively Listed By

Financing By

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