Skip to main content

Single-Tenant Office Medical

Rehab Associates of Central VA

44 Clifton St, Lynchburg, VA 24501

Listing Price: $2,897,000

Cap Rate
6.00%
Tenant Name
Rehab Associates of Virginia
Gross SF
10,865
Guarantor
Corporate Guarantee
Rentable SF
10,865
Price/Gross SF
$266.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.00

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of 44 Clifton Street in Lynchburg, Virginia. The subject property consists of 10,865-square-feet of rentable building area on a 1.89-acre plot of land. The building is fully leased to the Rehabilitation Associate of Central Virginia. The Rehab Associates provide physical therapy for a variety of needs out of fourteen clinics throughout Central Virginia. Clifton Street is their only location that has an indoor pool for aquatic therapy. RACVA's parent company, U.S. Physical Therapy, has over 500 locations in 39 states across the country. This investment opportunity is an absolute-net sale-leaseback with ten years of term, two percent annual rent increases, and four five-year renewal options. Lynchburg is located in central Virginia approximately 60 miles east of Roanoke and 115 miles west of Richmond. The site benefits from excellent accessibility and visibility being just off of Langhorne Road which sees over 13,500 vehicles per day. Additionally, the Centra Lynchburg General Hospital is less than one mile down the road. The estimated population within five miles of the subject property is approximately 87,000 with an average household income of just under $70,000 per year. This opportunity provides investors the rare chance to acquire a single-tenant net-leased medical office on a sale-leaseback. The sale-leaseback has favorable terms with a long-term lease, annual rent increases as a hedge against inflationary pressures, and no landlord responsibilities.

Investment Highlights

  • 10-Year Sale-Leaseback Commencing at Close of Escrow
  • Two Percent Annual Rent Increases
  • Four Five-Year Renewal Options
  • Strong Regional Tenant With Investment-Grade Parent Guarantee
  • Proximity to Central Lynchburg General Hospital (Less Than One Mile)
  • Excellent Accessibility (Langhorne Road - 13,600 VPD)

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Single-Tenant Office Medical

Rehab Associates of Central VA

Listing Price: $2,897,000

Cap Rate
6.00%
Tenant Name
Rehab Associates of Virginia
Gross SF
10,865
Guarantor
Corporate Guarantee
Rentable SF
10,865
Price/Gross SF
$266.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$16.00

Investment Highlights

  • 10-Year Sale-Leaseback Commencing at Close of Escrow
  • Two Percent Annual Rent Increases
  • Four Five-Year Renewal Options
  • Strong Regional Tenant With Investment-Grade Parent Guarantee
  • Proximity to Central Lynchburg General Hospital (Less Than One Mile)
  • Excellent Accessibility (Langhorne Road - 13,600 VPD)

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of 44 Clifton Street in Lynchburg, Virginia. The subject property consists of 10,865-square-feet of rentable building area on a 1.89-acre plot of land. The building is fully leased to the Rehabilitation Associate of Central Virginia. The Rehab Associates provide physical therapy for a variety of needs out of fourteen clinics throughout Central Virginia. Clifton Street is their only location that has an indoor pool for aquatic therapy. RACVA's parent company, U.S. Physical Therapy, has over 500 locations in 39 states across the country. This investment opportunity is an absolute-net sale-leaseback with ten years of term, two percent annual rent increases, and four five-year renewal options. Lynchburg is located in central Virginia approximately 60 miles east of Roanoke and 115 miles west of Richmond. The site benefits from excellent accessibility and visibility being just off of Langhorne Road which sees over 13,500 vehicles per day. Additionally, the Centra Lynchburg General Hospital is less than one mile down the road. The estimated population within five miles of the subject property is approximately 87,000 with an average household income of just under $70,000 per year. This opportunity provides investors the rare chance to acquire a single-tenant net-leased medical office on a sale-leaseback. The sale-leaseback has favorable terms with a long-term lease, annual rent increases as a hedge against inflationary pressures, and no landlord responsibilities.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President / District Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

MM Texture Background
MM Textured Background Lower