Erlanger Health

60 Erlanger South Drive, Ringgold, GA 30736

$2,286,000

Cap Rate 6.35%

Views: 135 DOM: 58 Updated: 11.02.24 Posted: 09.24.24 Status: Active

Summary

Price $2,286,000	Built/Renov 2010	Tenant Erlanger Health
Cap Rate 6.35%	Lease Type Double NN	Guarantor Corp Rated
Size/SF 7,955	Lease Start 12-01-2016	#Units 34
Price/SF $287.37	Expiration 07-31-2034	Tenant Type Medical/Health
NOI $145,178	R. Term 9.8	Ownership Fee Simple
Rent/SF $18.25	Increases 2.0%/1/yrs	Pop 5Mi 62,710
Lot/AC 1.40	Options 2/5yrs/2%	AHHI 5Mi $91,520

Lease Highlights

New 10-year lease extension
The lease features 2% annual rental increases throughout the initial term and option periods
Corporate guaranteed lease
Investment grade tenant

Location Description

Erlanger Health is strategically located at the hard corner intersection of Erlanger South Drive and Battlefield Parkway, a major thoroughfare with access to a combined daily traffic count of 20,300 vehicles. The property is conveniently positioned just two miles west of Interstate 75 and surrounded by prominent national tenants such as Subway, BP, CVS Pharmacy, Popeyes, and more. The 5-mile...

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Key Features

Hard corner intersection
Strategically located
Freeway close
Hospital close
Affluent suburb location
Major MSA
Recently extended lease
Annual rent increases
Corporate Guarantee
Investment grade tenant

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Links

Erlanger Health Wikipedia Ringgold, Georgia Zip Code 30736 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Erlanger Health
Guarantor:Corp Rated
Company:Elanger Health System
# Units:34
Tenant S&P: A
Moody’s: Baa1
Stock:Private

About Tenant

Erlanger Health System is a large, non-profit, public healthcare organization that provides a full range of medical services, including specialized care in areas such as trauma, cardiology,...

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Listing Broker

Zach Wright

The Boulder Group (Denver)

Contact

17 Listings
1806 Views
8 Sold

Brian Brockman

Bang Realty, Inc

Contact

29 Listings
1997 Views
1 Sold

Zach Wright

Zach Wright is a Vice President and Head of the Denver office of The Boulder Group. Zach specializes on the sale of net leased investment properties located nationally, with a focus on the Rocky Mountain and Midwest states. The key to Zach’s success is his work ethic and drive to constantly improve ways in which he can create value for his clients. Through a vast network built upon strong relationships and a honest reputation, Zach is able to successfully assist clients with the acquisition and

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Brian Brockman

Brian is one of only a handful of real estate brokers who is licensed in all 50 states and the District of Columbia. Brian is also one of a few auctioneers licensed throughout the country and has sold real estate via online auctions across the United States. Now, Brian is using his national real estate experience to help facilitate transactions for other commercial real estate brokers across the county. Brian has over 15 years in asset management experience and has sold properties for investo

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Brandon Wright

The Boulder Group (Denver)

Contact

16 Listings
1661 Views
8 Sold

Brandon Wright

Brandon Wright is a Listing Broker/Agent, Landlord Broker/Agent with The Boulder Group - Denver. Brandon has transacted 464K square feet with a value around 79M. Currently, Brandon has 8 listings available in Casey, Brownstown, Broomfield, Brighton, and Aurora.

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