1351 S 8th St - Medical FOR SALE


Springfield, IL 62703
$28,803,360 USD
918-494-2690
1351 S 8th St, Springfield, IL for Sale
$28,803,360 USD
Medical - FOR SALE
1/7
null | Request Cap Rate

1351 S 8th St
Springfield, IL 62703


HIGHLIGHTS

  • Investment Grade Guarantor
  • Newly Constructed, Mission Critical Drive-Up Lab Facility
  • Strategic Location
  • Long-Term, Absolute Net Lease
  • Zero Cash Flow Structure with Paydown/Readvance

OVERVIEW

$4,800,561 | Equity Required 20.0% | Equity Over Debt Northmarq Commercial is pleased to exclusively offer for sale the fee simple interest in the 24,000-square-foot drive-up lab facility located at 1351 South 8th Street in Springfield, Illinois (the “Property”). The Property is 100% leased to and guaranteed by Springfield Clinic, LLP, (the “Guarantor” or “Springfield Clinic”). The Property, a build-to-suit for Springfield Clinic that was completed in 2024, is situated on ± 2.32 acres. Springfield Clinic is operating under a long-term, 27-year absolute NNN lease, with contractual cash flow through November 2051 and 45 years of renewal options. The asset is offered with assumable, fixed rate, high-leverage financing. In association with Isaiah Harf, Lic #471019332

FOR SALE DETAILS

PRICE

$28,803,360 USD

PRICE/SF

$576 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Springfield Clinic (Zero Cash Flow)

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.32 AC

LAND SF

101,059 SF

ZONING

-

APN/PARCEL ID

14-34.0-386-004

ASK ABOUT THIS PROPERTY

Zach PoolNorthmarqMore Info
918-494-2690

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Zach PoolNorthmarqMore Info
918-494-2690

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