Office Medical

The Doctor's Plaza

471 W Army Trail Rd, Bloomingdale, IL 60108

Listing Price: $4,430,500

Cap Rate
8.25%
Gross SF
27,799
Rentable SF
27,799
Price/Gross SF
$159.38
Year Built
1994
Lot Size
5.53 acres

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership interest 471-473 W. Army Trail Road Bloomingdale, Illinois. This two-building, multi-tenant medical office property sits on a 5.53-acre corner parcel, boasting excellent visibility and ease of access. The site is positioned at the corner of Army Trail Road and Brighton Drive seeing over 30,844 vehicles per day and is in the heart of the Bloomingdale business district. Building one (471 Army Trail Road) is 91.77 percent occupied by a synergistic mix of medical tenants, all operating under highly desirable Triple Net lease structures. DuPage Medical Group anchors building one, occupying 54.69 percent of the site under a long-term lease through 2027 with two, five-year options and annual 2 percent rental increases. The remaining two tenants have lease term through 2022, with the Reproductive Medicine Institute featuring 2 percent annual increases and one, five-year renewal option. The weighted average lease term for building one is 4.56-years. Building two (473 Army Trail Road) is 46.72 percent occupied by three medical tenants operating under highly desirable Triple Net lease structures. Northwest Medical Care occupies 10.5 percent of the site under a long-term lease with term through 2026 and competitive annual 2 percent increases.

The buildings combined are 69.38 percent occupied by a strong tenant mix with competitive upside through leasing the remaining vacant space. The combined weighted average lease term is 5.30-years. Through stabilization, this two-building portfolio can reach a Pro Forma capitalization rate of 11.88 percent.

Investment Highlights

  • Triple-Net leased MOB Portfolio
  • 8.25 Percent In-Place / 11.88 Percent Pro Forma Capitalization Rate
  • 69.38 Percent Combined Occupancy / Competitive Value-Add Opportunity

Exclusively Listed By

Listing Price: $4,430,500

Cap Rate
8.25%
Gross SF
27,799
Rentable SF
27,799
Price/Gross SF
$159.38
Year Built
1994
Lot Size
5.53 acres

Investment Highlights

  • Triple-Net leased MOB Portfolio
  • 8.25 Percent In-Place / 11.88 Percent Pro Forma Capitalization Rate
  • 69.38 Percent Combined Occupancy / Competitive Value-Add Opportunity

Investment Overview

Marcus & Millichap is pleased to present the fee simple ownership interest 471-473 W. Army Trail Road Bloomingdale, Illinois. This two-building, multi-tenant medical office property sits on a 5.53-acre corner parcel, boasting excellent visibility and ease of access. The site is positioned at the corner of Army Trail Road and Brighton Drive seeing over 30,844 vehicles per day and is in the heart of the Bloomingdale business district. Building one (471 Army Trail Road) is 91.77 percent occupied by a synergistic mix of medical tenants, all operating under highly desirable Triple Net lease structures. DuPage Medical Group anchors building one, occupying 54.69 percent of the site under a long-term lease through 2027 with two, five-year options and annual 2 percent rental increases. The remaining two tenants have lease term through 2022, with the Reproductive Medicine Institute featuring 2 percent annual increases and one, five-year renewal option. The weighted average lease term for building one is 4.56-years. Building two (473 Army Trail Road) is 46.72 percent occupied by three medical tenants operating under highly desirable Triple Net lease structures. Northwest Medical Care occupies 10.5 percent of the site under a long-term lease with term through 2026 and competitive annual 2 percent increases.

The buildings combined are 69.38 percent occupied by a strong tenant mix with competitive upside through leasing the remaining vacant space. The combined weighted average lease term is 5.30-years. Through stabilization, this two-building portfolio can reach a Pro Forma capitalization rate of 11.88 percent.

Exclusively Listed By

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