Marcus & Millichap is pleased to present this hospital leased single tenant absolute NNN medical office building, located at 1018 N Mound Street in Nacogdoches, TX. The subject property is a 22,656 SF outpatient healthcare building, that is 100% leased to Nacogdoches County Hospital District dba Nacogdoches Memorial Hospital. Some of the tenant's uses at the property include: Neurology, a Breast Care Center, Cardiology, Family Medicine & a Lab.
This property is ideally located right next door to the tenant’s 231 bed Nacogdoches Memorial Hospital campus. This hospital serves the population in the 12 surrounding counties and it additionally houses East Texas’ only Level III Trauma Center. The tenant is a government entity that can levy property taxes and it is backed by sales and use tax revenues. This building is additionally situated ~0.5 miles from the campus of Stephen F. Austin State University, with its’ ~12K total student enrollment.
The subject property offers an investor an ideal 1031 exchange opportunity. The building features very stable hospital tenancy, an attractive 7.4% average cap rate over the remaining initial lease term and absolutely zero landlord responsibilities.