Quality Care ER - Paris TX
2675 41st Street Southeast, Paris, TX, 75462, US
$8,544,000 | 14,320 sf
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.
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Attributes
Asking price
$9,950,000
Cap rate
9.65%
Building area net
20,600 sf
Occupancy
100%
Year built
2008
Land area gross
2.73 acres
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
Contact brokers
NeuroRestorative Houston (0 Properties)
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Last updated
Oct 24, 2024
