1340 Belmont Ave - Medical FOR SALE


Youngstown, OH 44504- Brier Hill
$4,150,000 USD
813-210-7741
1340 Belmont Ave, Youngstown, OH for Sale
$4,150,000 USD
Medical - FOR SALE
1/3
null | 8% Cap Rate

1340 Belmont Ave
Youngstown, OH 44504
Brier Hill


HIGHLIGHTS

  • ? Fully Occupied Medical Office with Proximity to Hospital Campus ? 1,300 feet from Mercy Health St. Elizabeth Campus
  • ? Consistent Rent Growth ? Fresenius rent increases 3.5% Annually ? Mercy Health rent increases 2% Annually
  • ? Priced Below Replacement Cost ? $175.77 PPSF creates barrier to entry for new construction limiting competition from entering the market.
  • ? Excellent Historical Occupancy ? Fresenius has occupied for 34 Years
  • ? New Lease Signed by Mercy Health ? Five Year term to commence upon completion of Landlord improvements
  • ? Synergistic Tenant Mix ? Nephrology Practice Refers Patients to Dialysis Clinic

OVERVIEW

? Fully Occupied Medical Office with Proximity to Hospital Campus ? 1,300 feet from Mercy Health St. Elizabeth Campus ? Consistent Rent Growth ? Fresenius rent increases 3.5% Annually ? Mercy Health rent increases 2% Annually ? Priced Below Replacement Cost ? $175.77 PPSF creates barrier to entry for new construction limiting competition from entering the market. ? Excellent Historical Occupancy ? Fresenius has occupied for 34 Years ? New Lease Signed by Mercy Health ? Five Year term to commence upon completion of Landlord improvements ? Synergistic Tenant Mix ? Nephrology Practice Refers Patients to Dialysis Clinic ? Freestanding Medical Facility on Large Parcel ? Provides Visitors Easy Access and Ample Parking ? Anchor Tenant is Largest Dialysis Treatment Company Globally ? Fresenius Revenue Exceeds $19B Annually ? NYSE: FMS

FOR SALE DETAILS

PRICE

$4,150,000 USD

PRICE/SF

$156 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi-Tenant Fresenius MOB

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

MU-C

APN/PARCEL ID

53-079-0-523.00-0

ASK ABOUT THIS PROPERTY

Christopher BiusoMarcus & MillichapMore Info
813-210-7741

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Christopher BiusoMarcus & MillichapMore Info
813-210-7741

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.