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Single-Tenant Office Medical

Atrium Health Union Family Practice | Rare Single Tenant Hospital Leased MOB

1106 Reynolds St, Monroe, NC 28112

Listing Price: $6,600,000

Cap Rate
5.48%
Tenant Name
Carolinas Physicians Network, Inc. (Atrium Health)
Years Remaining On Lease
7.1
Guarantor
Corporate Guarantee
Rentable SF
19,502
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.54

Investment Overview

Marcus & Millichap is pleased to present this single tenant hospital leased medical office building located at 1106 Reynolds St in Monroe, NC. The building is ideally situated 0.7 miles from the 182 bed Atrium Health Union Hospital and it is located within the rapidly expanding Charlotte, NC MSA. The subject property is 100% leased to Carolinas Physicians Network, Inc. (Atrium Health | AA- Credit Rated). The tenant has occupied this location for over 20 years and they recently executed a lease extension. Some of Atrium’s medical services at the property include: Pharmacy, Minor Surgeries, Imaging, Pediatric Care, Women’s Health, Men’s Health, Behavioral Health & Preventative Care. The current owner recently replaced the roof and the parking lot was upgraded when the tenant signed their new lease extension. This property is an ideal 1031 investment, since it is a rare opportunity to acquire a hospital leased MOB in a thriving major MSA.

Investment Highlights

  • Rare Single Tenant Hospital Leased MOB | Atrium Health (AACredit Rating)
  • Attractive 2.5% Annual Increases | 5.89% Cap Rate Over the Remaining Lease Term
  • Tenant Has Occupied This Property for 20+ Years & They Recently Renewed Their Lease
  • Recent Roof Replacement & Parking Lot Renovation
  • 0.7 Miles From the 182 Bed Atrium Health Union Hospital
  • Attractive Location Within the Rapidly Growing Charlotte MSA

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Single-Tenant Office Medical

Atrium Health Union Family Practice | Rare Single Tenant Hospital Leased MOB

Listing Price: $6,600,000

Cap Rate
5.48%
Tenant Name
Carolinas Physicians Network, Inc. (Atrium Health)
Years Remaining On Lease
7.1
Guarantor
Corporate Guarantee
Rentable SF
19,502
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.54

Investment Highlights

  • Rare Single Tenant Hospital Leased MOB | Atrium Health (AACredit Rating)
  • Attractive 2.5% Annual Increases | 5.89% Cap Rate Over the Remaining Lease Term
  • Tenant Has Occupied This Property for 20+ Years & They Recently Renewed Their Lease
  • Recent Roof Replacement & Parking Lot Renovation
  • 0.7 Miles From the 182 Bed Atrium Health Union Hospital
  • Attractive Location Within the Rapidly Growing Charlotte MSA

Investment Overview

Marcus & Millichap is pleased to present this single tenant hospital leased medical office building located at 1106 Reynolds St in Monroe, NC. The building is ideally situated 0.7 miles from the 182 bed Atrium Health Union Hospital and it is located within the rapidly expanding Charlotte, NC MSA. The subject property is 100% leased to Carolinas Physicians Network, Inc. (Atrium Health | AA- Credit Rated). The tenant has occupied this location for over 20 years and they recently executed a lease extension. Some of Atrium’s medical services at the property include: Pharmacy, Minor Surgeries, Imaging, Pediatric Care, Women’s Health, Men’s Health, Behavioral Health & Preventative Care. The current owner recently replaced the roof and the parking lot was upgraded when the tenant signed their new lease extension. This property is an ideal 1031 investment, since it is a rare opportunity to acquire a hospital leased MOB in a thriving major MSA.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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