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Previous Description:
State Certified, established Tenant, pure triple-net. 2.5 years remaining on current lease with an additional 5-year option. Tenant currently paying $16.90 per square foot, with annual 3% increases. Building offers 15,066 sq ft, 40 bed care facility, industrial kitchen, additional kitchens, handicap accessible. Seller may consider carrying a contract.
Updated Description:
State Certified Alzheimer’s care facility established 15-year Tenant and 100% occupied. This property is offered currently at a 6% cap rate. The project offers a total of 15,066 sq ft consisting of 4 separate wings, each wing has 10 beds (9 rooms), kitchen, laundry, ADA bathrooms, office area, common area with fireplace and television, and a dining area. One wing has had a kitchen remodel to provide a “commercial” kitchen for food prep for the entire facility. The tenant is currently paying $17.41 sf NNN rent with an increase scheduled in 3/2027 to $17.93. The tenant has one 5-year option remaining at market rent to be negotiated at the time of option. Please contact agent for additional information.
