TRIPLE NET MEDICAL AND RETAIL CENTER

TRIPLE NET MEDICAL AND RETAIL CENTER

Smith_logo_1Property #INL172 SOLD

Excellent opportunity to purchase a well located building directly across the street from Northside Hospital, on highly trafficked 49th St N – currently leased to two tenants; one is a doctor’s office, and the other a pharmacy, both on triple net leases with incremental increases; building totals just under 12,000 square feet – lot size is about 23,840 square feet, with C-3 zoning – landlord is only responsible for roof and structure; Tenants reimburse all other expenses – Cap rate at asking price, without management or vacancy, is about 10%, and increases to 11% in year three of the leases.  – $569,000.

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