20 University Estates Blvd
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20 University Estates Blvd
13,602 SF Office Building Athens, OH 45701 £4,647,899 (£342/SF) 6.45% Net Initial Yield
Investment Highlights
- Located in Athens, home to Ohio University (21,000 students)
- 2.5% annual rental increases in the primary term & renewal options
- Proven successful location with an established patient base and reputation in the community
- Long-term lease with 10+ years remaining
- New 10-year lease extension demonstrating tenant’s commitment to the property
- Guaranteed by a leading regional health system
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant Marietta Memorial Hospital medical office building located in Athens, OH. The property is an orthopedic surgery center and an orthopedic doctor’s office. The lease is guaranteed by Marietta Area Health Care, Inc., which recently executed a new 10-year lease extension demonstrating their commitment to the property and the success of the practice. The lease features 2.5% annual rental increases. Marietta Area Health Care, Inc. is a leading regional health system founded in 1921 and has over 3,500 employees.
The surgery center is strategically located two miles west of the University of Ohio, which has over 21,000 students. There are over 25,000 people that live within three miles of the property.
The surgery center is strategically located two miles west of the University of Ohio, which has over 21,000 students. There are over 25,000 people that live within three miles of the property.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
13,602 SF
Building Class
B
Year Built
2015
Price
£4,647,899
Price Per SF
£342
Net Initial Yield
6.45%
NOI
£299,805
Tenancy
Single
Number of Floors
1
Typical Floor Size
13,602 SF
Building FAR
0.13
Lot Size
2.34 AC
Zoning
Commercial
Parking
60 Spaces (4.41 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £402,346 | |
| Land Assessment | £68,310 | Total Assessment | £470,656 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£68,310
Improvements Assessment
£402,346
Total Assessment
£470,656
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20 University Estates Blvd
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