NeuroRestorative Houston_Property for Sale

9951 Fannin Street, Houston, TX, 77045, US

NeuroRestorative Houston

Asset Description

Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present for sale the 100 percent fee simple interest in a 20,600-square-foot post-acute care neuro-rehabilitation facility (the “Property”) in Houston, Texas. The Property is leased to Mentis Houston LLP dba NeuroRestorative (“Tenant”) through May 1, 2029 on an absolute net basis. The investment offers a bond-like, inflation-hedged cash flow for the next 5 years with annual rent escalations of 2.5 percent. In year one of the investor’s holding period, the net operating income is $952,639 (based on a September 1, 2024 closing date). Uniquely positioned for long-term sustainable growth, NeuroRestorative, the operator, is a market leader in post-acute rehabilitation services for acquired brain injuries and has 116 locations across 25 states.

...

Attributes

Asking price

€9,569,000

Cap rate

9.65%

Building area net

1,914 m²

Occupancy

100%

Year built

2008

Land area gross

1.1 ha

WAULT

4.9 years

Media

Investment Highlights

4.9 years of lease term remaining
36% population growth projected withing a 1-mile radius
No state income tax
3.5 miles from the largest Medical Center in the world
8 million patient encounters per year at The Texas Medical Center
Absolute Net Lease tenant
Fannin Street, Houston's main thoroughgare connecting to The Medical Center
7.91% CAGR growth expectation from the 2023 to 2031 in the U.S. Healthcare Industry