Northmarq Commercial is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the land and building of a multi-tenant medical- anchored office facility located in Fairview Park, Ohio (the “Property”).
The Property consists of 0.46 acres and a one story, 11,806-square-foot medical office that was built in 2007. It is situated in Fairview Center at the intersection of West 227th Street and Brookpark Road (12,122 VPD) just off Interstate 480 (92,844 VPD) making the site extremely accessible. There are nearly 209,000 in population in a five-mile radius with an average household income in excess of $110,000 annually.
The Primary Tenant is Total Renal Care, Inc., a subsidiary of DaVita, Inc. who occupies 34% of the Property. DaVita has operated at this location since 2008 and retrofitted the space to their exact specifications and strategically selected this site to grow their presence in the Cleveland market. The Tenant recently executed a five (5) year lease expiring February 28, 2029 with three additional five (5) year options with ten percent (10%) increases at the start of each option. The annual rent is currently $70,770 and the lease is NN with limited landlord responsibilities.
In association with: Jeff McKinney - OH Lic. #BRK.2016002560