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Single-Tenant Office Medical

Fast Pace Urgent Care

1800 E State Road 44, Shelbyville, IN 46176

Listing Price: $3,048,000

Cap Rate
5.25%
Tenant Name
Fast Pace Urgent Care
Years Remaining On Lease
14.7
Gross SF
3,700
Guarantor
Corporate Guarantee
Rentable SF
3,700
Price/Gross SF
$823.78
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.24

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of 1800 East State Road 44, Shelbyville, Indiana. The subject property is currently under construction and being developed to suit the needs of Fast Pace Urgent Care. Upon completion, the building will be a 3,700-square-foot, state-of-the-art medical office space, located on a hard corner surrounded by national retailers. Rent commencement is expected to begin in August 2022, which will begin a 15-Year absolute-net lease. The lease features ten percent annual rent increases every five years, as well as at the beginning of each of the three, five-year renewal options. Fast Pace Health Urgent Care was founded in 2009, with just one clinic in Collinwood, Tennessee to over 147 walk-in locations in the states of Tennessee, Kentucky, Mississippi, Louisiana, and Indiana. The clinics provide treatment for a wide range of illnesses, injuries, and common conditions, along with wellness, diagnostics, and screening services. Each clinic features multiple exam rooms, on-site lab testing, and x-ray capabilities. Fast Pace boasts short wait times and the ability to easily share records between locations providing convenience to patients no matter where they are. Shelbyville is in Central Indiana less than forty minutes’ drive from Downtown Indianapolis. The subject property benefits from fantastic visibility and accessibility situated conveniently on State Road 44 which see over 14,000 vehicles per day. Investor benefits from fee-simple ownership of the building and land.

Investment Highlights

  • 15 Year Long-Term Lease on a New Construction Face Pace Urgent Care
  • Minimal Landlord Responsibilities for Structure and Load Bearing Walls
  • 10 Percent Rental Increases Every Five Years at Each Option Period

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Single-Tenant Office Medical

Fast Pace Urgent Care

Listing Price: $3,048,000

Cap Rate
5.25%
Tenant Name
Fast Pace Urgent Care
Years Remaining On Lease
14.7
Gross SF
3,700
Guarantor
Corporate Guarantee
Rentable SF
3,700
Price/Gross SF
$823.78
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$43.24

Investment Highlights

  • 15 Year Long-Term Lease on a New Construction Face Pace Urgent Care
  • Minimal Landlord Responsibilities for Structure and Load Bearing Walls
  • 10 Percent Rental Increases Every Five Years at Each Option Period

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership of 1800 East State Road 44, Shelbyville, Indiana. The subject property is currently under construction and being developed to suit the needs of Fast Pace Urgent Care. Upon completion, the building will be a 3,700-square-foot, state-of-the-art medical office space, located on a hard corner surrounded by national retailers. Rent commencement is expected to begin in August 2022, which will begin a 15-Year absolute-net lease. The lease features ten percent annual rent increases every five years, as well as at the beginning of each of the three, five-year renewal options. Fast Pace Health Urgent Care was founded in 2009, with just one clinic in Collinwood, Tennessee to over 147 walk-in locations in the states of Tennessee, Kentucky, Mississippi, Louisiana, and Indiana. The clinics provide treatment for a wide range of illnesses, injuries, and common conditions, along with wellness, diagnostics, and screening services. Each clinic features multiple exam rooms, on-site lab testing, and x-ray capabilities. Fast Pace boasts short wait times and the ability to easily share records between locations providing convenience to patients no matter where they are. Shelbyville is in Central Indiana less than forty minutes’ drive from Downtown Indianapolis. The subject property benefits from fantastic visibility and accessibility situated conveniently on State Road 44 which see over 14,000 vehicles per day. Investor benefits from fee-simple ownership of the building and land.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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