ChenMed Dedicated Senior Medical - Cincinnati, OH
7642 Reading Rd, Cincinnati, OH, 45237, US
A$4,955,000
Description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee simple interest in the Chen Dedicated Holdings LLC (“ChenMed” or “Tenant”) medical office building located at 5264 Lee Road, Maple Heights, OH ("Property" or "Asset"). At this location ChenMed operates its Dedicated Senior Medical Center concept. The Property is fully occupied by ChenMed, operating on a long-term, absolute NNN lease with ±18 years of primary term remaining and 2.50% annual escalations.
Dedicated Senior Medical Center, a key part of the national ChenMed family, provides a transformative, physician-led primary care model specifically for seniors. As a comprehensive healthcare destination, it offers a full spectrum of services under one roof, including on-site labs, diagnostics, medication dispensing, and transportation. The center operates on a high-touch, value-based care model, assigning each physician a small patient panel to ensure personalized attention. This proactive approach leads to proven superior outcomes, including 33% fewer hospitalizations for its patients, and has fueled the company's expansion to over 110 centers nationwide. ChenMed generated $3.75B in revenue for the trailing twelve months ended June 2026, demonstrating the financial strength behind this proven healthcare model.
The Asset consists of a 13,400 SF medical office building situated on a 1.24-acre parcel. Originally built in 1994 and fully renovated in 2020, the facility operates as a modern medical clinic providing primary care services for seniors. The absolute triple-net lease features attractive 2.5% annual rent escalations, providing a strong hedge against inflation.
Positioned on Lee Road in Maple Heights, an established southeast suburb of Cleveland within minutes of I-480 and three miles from Cleveland Clinic Marymount Hospital, the Property is supported by a dense, established patient base with a population of 200,531 and 87,923 households within a five-mile radius.
This offering provides investors the opportunity to acquire a long-term absolute NNN lease with annual increases, leased to a recession-resistant healthcare operator of scale, within one of the nation’s premier healthcare markets.
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Attributes
Asking price
A$5,826,000
Cap rate
7%
Occupancy
100%
WAULT
18 years
Media
Investment Highlights
- Medical office building fully leased to ChenMed’s Dedicated Senior Medical Center, a value-based senior primary care operator with 110+ locations across 15 states and a 42-year operating history.
- Absolute NNN lease with no landlord responsibilities and ±18 years of primary term remaining with 2.50% annual rent escalations
- Established Cleveland healthcare market: three miles from Cleveland Clinic Marymount Hospital (322 beds) and within eight miles of Cleveland Clinic’s main campus, University Hospitals Cleveland Medical Center, and MetroHealth, with 200,531 residents within five miles and quick access to I-480 (±180,000 VPD).
Contact brokers
ChenMed - Maple Heights, OH (0 Properties)
