CenterWell Senior Primary Care

1454 Central Blvd, Brownsville, TX 78520

$4,701,000

Cap Rate 7.00%

Views: 137 DOM: 262 Updated: 10.04.24 Posted: 04.03.24 Status: Active

Summary

Price $4,701,000	Built/Renov 2021	Tenant CenterWell Senior Primary Care
Cap Rate 7.00%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 13,502	Lease Start 10-01-2021	#Units 140
Price/SF $348.17	Expiration 09-30-2031	Tenant Type Medical/Health
NOI $329,091	R. Term 6.9	Ownership Fee Simple
Rent/SF $24.37	Increases 10.0%/2/yrs	Pop 5Mi 162,719
Lot/AC 1.69	Options 4/5yrs/10%	AHHI 5Mi $65,696

Lease Highlights

CenterWell has 7+ years remaining on the current lease term with 4 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof & structure | Reimbursed by tenant
Corporate guarantee | Investment grade tenant

Location Description

CenterWell is strategically located at the signalized, hard corner intersection of Central Blvd. and Boca Chica Blvd., with access to a combined daily traffic count of 43,566 vehicles. The property is located just half a mile away from Valley Baptist Medical Center, which features 243 beds. In the vicinity, there are well-known national retailers such as H-E-B, Walgreens, Dollar General,...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Strategically located
Dense 100M+ pop 5 mi
Major MSA
Income tax free state
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

CenterWell Senior Primary Care Wikipedia Brownsville, Texas Zip Code 78520 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CenterWell Senior Primary Care
Guarantor:Corp T and Rated
Company:Humana,, Inc
# Units:140
Tenant S&P: BBB
Moody’s: Baa2
Stock: NYSE: HUM

About Tenant

CenterWell Senior Primary (Centerwell) is a network of one-stop doctor’s offices that offer complete care for Medicare and Medicare Advantage patients, with a focus on senior primary care. Each...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	12,733	87,148	164,521
2023 Total Population :	12,826	86,363	163,363
2023 Employed Civilian Pop :	4,838	33,282	63,903
2023 Total Businesses :	518	3,493	4,698
2023 Average Household Income :	$ 60,117	$ 61,090	$ 65,643
2023 Total Consumer Spending :	$ 246 M	$ 1573 M	$ 3034 M
2023 Median Age :	36	33	32
2023 Total Households :	4,613	29,085	52,216
2023 Pop Age 25+: Bachelor's Degree :	1,369	8,296	16,472
2023 Average Home Value :	$ 153,506	$ 142,518	$ 144,253

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Boca Chica Boulevard	Central Blvd	2022	17,064	0.02 mi
Central Boulevard	Boca Chica Blvd	2020	19,784	0.03 mi
Central Boulevard	Boca Chica Blvd	2022	22,123	0.03 mi
Boca Chica Boulevard	Brownfield Rd	2020	12,139	0.05 mi
Boca Chica Boulevard	Brownfield Rd	2022	16,000	0.05 mi
Central Boulevard	Boca Chica Blvd	2022	22,826	0.05 mi
Central Boulevard	Boca Chica Blvd	2020	18,620	0.05 mi
Boca Chica Blvd	Brownfield Rd	2014	14,472	0.09 mi
Central Blvd	Stovall Rd	2000	24,000	0.34 mi
Lakeside Blvd	W Madison St	2014	3,597	0.38 mi

Listing Broker

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
23586 Views
59 Sold

Eric Carlton

Colliers NNN Group

Contact

180 Listings
25367 Views
63 Sold

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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