Medical office condominium NNN leased to Blount Memorial Hospital/Prisma Health. Tenant pays taxes, insurance, condo fee, utilities, maintenance, etc.
Tenant has recently exercised the first of two three-year options to renew. The first option year begins on August 1, 2024, at $57,856.71/Year.
The second option period will begin on August 1, 2027, at $63,221.59/Year, a 9%+ increase.
If the tenant exercises the second option, the 6-year cap rate is 8%.
There are two floors: approximately 2,200 SF on the first floor and approximately 900 SF on the second floor. The first floor has a large waiting area with a visitor's waiting room, reception desk, employee restroom, an office with a private restroom, kitchen area, 8 exam rooms and a nurses/filing area.
Interior photos are from before the current tenant occupied the premises.
SHOWINGS BY APPOINTMENT ONLY. PLEASE DO NOT DISTURB THE TENANT! PLEASE CALL THE LISTING AGENT TO ARRANGE AN APPOINTMENT AFTER HOURS.