Single-Tenant Office Medical

Concentra Urgent Care

30 Royal Little Drive, Providence, RI 02904

Listing Price: $4,125,000

Cap Rate
7.39%
Tenant Name
Concentra Urgent Care
Years Remaining On Lease
4.70
Gross SF
8,500
Rentable SF
8,500
Price/Gross SF
$485.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.84

Investment Overview

Subject property is an 8,500 rentable square foot medical office building situated on 0.97 acre in Providence, Rhode Island. The property was a built-to-suit for Concentra in 2009. Concentra is a National Health Care provider and subsidiary of Select Medical Holdings (NYSE: SEM). As a Credit Rated Tenant, Concentra provides a Corporate Guaranteed Lease. There are approximately six years remaining on Concentras NNN lease, with one, five-year renewal option. Rent increases 2.5% annually, providing a 7.45% blended Cap Rate over the initial base lease term.

Concentra Urgent Care has great street visibility with approximately 650 total feet of frontage on Royal Little Drive, Branch Avenue, and Silver Springs Road. It is only 0.3 mile from the Interstate-95 ramp, which benefits from 261,000 vehicles daily. Property is also positioned within a heavily trafficked retail corridor. Nearby nationally recognized retail tenants include Walmart, The Home Depot, Direct TV, AAA Insurance, Wendys, Subway and more.

Investment Highlights

  • 8,500 Rentable Square Foot Medical Office Building
  • Concentra Provides a Corporate Guaranteed Lease, With Over 520 Medical Centers
  • Approximately 5 Years Remain On NNN Lease | One, Five-Year Option
  • 2.5% Rent Increases Annually, Providing a 7.76% Blended Cap Rate Over the Base Term
  • One Mile to Brown University
  • Three Miles to Downtown Providence
  • 11 Miles to T.F. Green Airport

Exclusively Listed By

Single-Tenant Office Medical

Concentra Urgent Care

Listing Price: $4,125,000

Cap Rate
7.39%
Tenant Name
Concentra Urgent Care
Years Remaining On Lease
4.70
Gross SF
8,500
Rentable SF
8,500
Price/Gross SF
$485.29
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.84

Investment Highlights

  • 8,500 Rentable Square Foot Medical Office Building
  • Concentra Provides a Corporate Guaranteed Lease, With Over 520 Medical Centers
  • Approximately 5 Years Remain On NNN Lease | One, Five-Year Option
  • 2.5% Rent Increases Annually, Providing a 7.76% Blended Cap Rate Over the Base Term
  • One Mile to Brown University
  • Three Miles to Downtown Providence
  • 11 Miles to T.F. Green Airport

Investment Overview

Subject property is an 8,500 rentable square foot medical office building situated on 0.97 acre in Providence, Rhode Island. The property was a built-to-suit for Concentra in 2009. Concentra is a National Health Care provider and subsidiary of Select Medical Holdings (NYSE: SEM). As a Credit Rated Tenant, Concentra provides a Corporate Guaranteed Lease. There are approximately six years remaining on Concentras NNN lease, with one, five-year renewal option. Rent increases 2.5% annually, providing a 7.45% blended Cap Rate over the initial base lease term.

Concentra Urgent Care has great street visibility with approximately 650 total feet of frontage on Royal Little Drive, Branch Avenue, and Silver Springs Road. It is only 0.3 mile from the Interstate-95 ramp, which benefits from 261,000 vehicles daily. Property is also positioned within a heavily trafficked retail corridor. Nearby nationally recognized retail tenants include Walmart, The Home Depot, Direct TV, AAA Insurance, Wendys, Subway and more.

Exclusively Listed By

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