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Single-Tenant Office Medical

Health Express Raynham

106 New State Hwy, Raynham, MA 02767

Listing Price: $2,680,000

Cap Rate
6.00%
Tenant Name
Health Express
Years Remaining On Lease
5.7
Gross SF
5,901
Guarantor
Corporate Guarantee
Rentable SF
5,901
Price/Gross SF
$454.16
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.57

Investment Overview

Marcus & Millichap is pleased to present a NNN Health Express property located at 106 New State Hwy in Raynham, MA. The subject property currently has six years remaining on a corporate backed NNN lease guaranteed by Steward Medical Group which includes 2% annual rent escalations and two five-year options to extend. The 5,901 square foot building sits on a 0.69-acre with 29 parking spots. The subject property is situated on US-Route 44, which traverses from Plymouth, MA to upstate New York, and sees over 28,000 vehicles per day. Located in the primary commercial corridor of Raynham, several national retail brands are nearby, including Stop & Shop, Walgreens, CVS, Dunkin, and more. The subject property is located 0.25 miles from the Raynham/Taunton border, an area with strong demographics. Within a five-mile radius of the property, there are over 79,000 residents and an average household income 1.6 times than the national average. Health Express Raynham is an urgent care location operated by the nearby Morton Hospital in Taunton. Both entities are under the umbrella of Steward Health Care Systems, the country’s largest physician-led medical system. This urgent care is unusual in that it is corporately backed by Steward, while most are guaranteed by the employed doctors.

Investment Highlights

  • Corporately guaranteed NNN lease with zero landlord responsibilities
  • Guarantor provides hospital credit, far stronger than most UC guarantors
  • Annual rent bumps provide strong hedge against inflation
  • Highly trafficked area with more than 28,000 VPD
  • Over 79,000 residents within a five-mile radius of the property
  • Average household income 1.6 times higher than national average
  • Located in primary commercial corridor of Raynham

Exclusively Listed By

Financing By

Single-Tenant Office Medical

Health Express Raynham

Listing Price: $2,680,000

Cap Rate
6.00%
Tenant Name
Health Express
Years Remaining On Lease
5.7
Gross SF
5,901
Guarantor
Corporate Guarantee
Rentable SF
5,901
Price/Gross SF
$454.16
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.57

Investment Highlights

  • Corporately guaranteed NNN lease with zero landlord responsibilities
  • Guarantor provides hospital credit, far stronger than most UC guarantors
  • Annual rent bumps provide strong hedge against inflation
  • Highly trafficked area with more than 28,000 VPD
  • Over 79,000 residents within a five-mile radius of the property
  • Average household income 1.6 times higher than national average
  • Located in primary commercial corridor of Raynham

Investment Overview

Marcus & Millichap is pleased to present a NNN Health Express property located at 106 New State Hwy in Raynham, MA. The subject property currently has six years remaining on a corporate backed NNN lease guaranteed by Steward Medical Group which includes 2% annual rent escalations and two five-year options to extend. The 5,901 square foot building sits on a 0.69-acre with 29 parking spots. The subject property is situated on US-Route 44, which traverses from Plymouth, MA to upstate New York, and sees over 28,000 vehicles per day. Located in the primary commercial corridor of Raynham, several national retail brands are nearby, including Stop & Shop, Walgreens, CVS, Dunkin, and more. The subject property is located 0.25 miles from the Raynham/Taunton border, an area with strong demographics. Within a five-mile radius of the property, there are over 79,000 residents and an average household income 1.6 times than the national average. Health Express Raynham is an urgent care location operated by the nearby Morton Hospital in Taunton. Both entities are under the umbrella of Steward Health Care Systems, the country’s largest physician-led medical system. This urgent care is unusual in that it is corporately backed by Steward, while most are guaranteed by the employed doctors.

Exclusively Listed By

Financing By

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