517 3rd Ave - Medical FOR SALE


Chesapeake, OH 45619
$1,400,000 USD
415-489-1742
517 3rd Ave, Chesapeake, OH for Sale
$1,400,000 USD
Medical - FOR SALE
1/9
null | 8.43% Cap Rate

517 3rd Ave
Chesapeake, OH 45619


HIGHLIGHTS

  • NNN lease with minimal landlord responsibilities and 2% annual rent increases
  • Tenant operates six locations across Lawrence County
  • Only three miles from Cabell Hunting Hospital (Ranked top 100 hospital in 2023) and multiple other medical institutions
  • Strategically located off Hwy-527 with 14,800+ VPD
  • RRS Ohio strategically signed a 12-year lease in 2021 to serve as a larger replacement location for its then existing outpatient clinic in South Point

OVERVIEW

Transwestern is pleased to present 517 Third Ave in Chesapeake, OH, a single tenant medical office building. The tenant, RRS Ohio Drug & Alcohol, operates six locations across Lawrence County and signed a 12-year lease at the subject property in 2021. The RRS facility is located just off OH-527 which sees more than 14,900 Vehicles per Day. OH-527 runs directly through downtown Huntington, WV to the south, and Chesapeake, OH to the North. The subject property is strategically located just 3 miles from Cabell Huntington Hospital which ranked as a top 100 Hospital in 2023. The Hospital is a 303-bed teaching hospital for Marshall University Schools of Medicine, Pharmacy and Nursing. They are home to the Hoops Family Children's Hospital and the Edwards Comprehensive Cancer Center, and serve patients throughout West Virginia, Eastern Kentucky, and Southern Ohio. Broker of Record Bailey Martin OH Lic#2022001018

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$167 USD /SF

CAP RATE

8.43%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

-

APN/PARCEL ID

24-027-1300-000

ASK ABOUT THIS PROPERTY

CJ BrillTranswestern Real Estate ServicesMore Info
415-489-1742

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CJ BrillTranswestern Real Estate ServicesMore Info
415-489-1742

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.