1112 Gene Reed Road

Property Details

Absolute NNN lease. Tenant is a vascular surgery center recently acquired by a local hospital group. Lease start date 10/6/21 for 10 year term with 2% annual rent increases. Current annual rent is $244,077.79. At expiration of initial 10-year term there are 5 renewal options for 3 years each. Tenant responsible for all operating expenses plus structural repairs. Desirable investment because experts estimate that medical office buildings generate a higher percentage of bonus depreciation than other investment types, typically in the 40% to 60% range. Buyers must confirm with their own tax professionals, but if the estimates are accurate, then based on an 80% improvement to total property ratio, first year bonus depreciation would be in the range of $1,593,000 to $2,390,400 Site visits, nor contact with tenant, permitted except as arranged by listing agent.

Features

• Type: Office
• Acreage: 1.21
• Year Built: 1985