Single-Tenant Office Medical

Pinnacle Treatment Center

300 Carrera Dr, London, KY 40741

Listing Price: $4,670,000

Cap Rate
6.50%
Tenant Name
Pinnacle Treatment Center
Years Remaining On Lease
17.80
Gross SF
15,900
Guarantor
Corporate Guarantee
Rentable SF
15,900
Price/Gross SF
$293.71
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.10

Investment Overview

Marcus & Millichap is pleased to present the Pinnacle Treatment Center located in London, Kentucky

The 15,900 square foot building was originally built-to-suit for Pinnacle in 2017 and is positioned on about 3 acres along Carrera Drive. The building has excellent exposure along Carrera Drive, which runs north and south and intersects with Russell Dyche Memorial Highway, which is a major thoroughfare in London. The highway runs into Interstate 75 less than a quarter-mile from the Pinnacle Treatment Center. This corridor is home to a number of national retailers including McDonalds, Buffalo Wild Wings, Cracker Barrel, Cheddars, Wendys, Taco Bell, Waffle House, KFC, White Castle and Arbys. There are several hotels and motels nearby including Hampton Inn, Fairfield Inn & Suites by Marriott, Motel 6, Econo Lodge, Red Roof Inn and Budget Inn which help drive the daytime traffic in the area. Walmart has a large distribution center also just west of the Pinnacle Treatment Center along the highway.

Pinnacle Treatment Center signed a 20-year lease which commenced on June 20, 2018 and is set to expire June 30, 2038. The lease is considered modified triple net, with very minimal landlord responsibilities and the tenant being directly responsible for all CAM, taxes, and insurance expenses associated with the building including HVAC. Landlord shares in the cost of a new roof, which is currently covered by warranty. There are rare 3 percent annual increases in both the base lease term and in the ten-year renewal option.

Pinnacle Treatment Centers provide inpatient and outpatient treatment for those suffering from addiction. Their services include drug-free and medication-assisted treatment, through a network of 102 facilities across Pennsylvania, New Jersey, Virginia, Indiana, Ohio, Kentucky and California.

Investment Highlights

  • Modified Triple Net Lease | Minimal Landlord Responsibility (Roof Replacement Shared)
  • 15,900 Square Foot Freestanding Medical Office Building
  • High-Quality Build-to-Suit Construction in 2017 for Pinnacle Treatment Center
  • Original 20-Year Lease Commenced June 20, 2018 | 18+ Years Remaining
  • Rare 3% Annual Rent Increases in the Base Term & in the Ten-Year Renewal Option
  • Pinnacle Treatment Center has 102 Locations Across 7 States

Exclusively Listed By

Single-Tenant Office Medical

Pinnacle Treatment Center

Listing Price: $4,670,000

Cap Rate
6.50%
Tenant Name
Pinnacle Treatment Center
Years Remaining On Lease
17.80
Gross SF
15,900
Guarantor
Corporate Guarantee
Rentable SF
15,900
Price/Gross SF
$293.71
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.10

Investment Highlights

  • Modified Triple Net Lease | Minimal Landlord Responsibility (Roof Replacement Shared)
  • 15,900 Square Foot Freestanding Medical Office Building
  • High-Quality Build-to-Suit Construction in 2017 for Pinnacle Treatment Center
  • Original 20-Year Lease Commenced June 20, 2018 | 18+ Years Remaining
  • Rare 3% Annual Rent Increases in the Base Term & in the Ten-Year Renewal Option
  • Pinnacle Treatment Center has 102 Locations Across 7 States

Investment Overview

Marcus & Millichap is pleased to present the Pinnacle Treatment Center located in London, Kentucky

The 15,900 square foot building was originally built-to-suit for Pinnacle in 2017 and is positioned on about 3 acres along Carrera Drive. The building has excellent exposure along Carrera Drive, which runs north and south and intersects with Russell Dyche Memorial Highway, which is a major thoroughfare in London. The highway runs into Interstate 75 less than a quarter-mile from the Pinnacle Treatment Center. This corridor is home to a number of national retailers including McDonalds, Buffalo Wild Wings, Cracker Barrel, Cheddars, Wendys, Taco Bell, Waffle House, KFC, White Castle and Arbys. There are several hotels and motels nearby including Hampton Inn, Fairfield Inn & Suites by Marriott, Motel 6, Econo Lodge, Red Roof Inn and Budget Inn which help drive the daytime traffic in the area. Walmart has a large distribution center also just west of the Pinnacle Treatment Center along the highway.

Pinnacle Treatment Center signed a 20-year lease which commenced on June 20, 2018 and is set to expire June 30, 2038. The lease is considered modified triple net, with very minimal landlord responsibilities and the tenant being directly responsible for all CAM, taxes, and insurance expenses associated with the building including HVAC. Landlord shares in the cost of a new roof, which is currently covered by warranty. There are rare 3 percent annual increases in both the base lease term and in the ten-year renewal option.

Pinnacle Treatment Centers provide inpatient and outpatient treatment for those suffering from addiction. Their services include drug-free and medication-assisted treatment, through a network of 102 facilities across Pennsylvania, New Jersey, Virginia, Indiana, Ohio, Kentucky and California.

Exclusively Listed By

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