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Views: 72 Updated: 01.26.24 Posted: 05.03.23 Status: Inactive 03.07.24

Summary

Price $10,612,185
Built/Renov 1990/2000
Tenant West Tennessee Health Care
Cap Rate 6.25%
Lease Type NN+
Guarantor Corp Rated
Size/SF 40,576
Lease Start 09-01-2022
#Units 90
Price/SF $261.54
Expiration 08-31-2032
Tenant Type Medical/Health
NOI $689,792
R. Term 7.8
Ownership Fee Simple
Rent/SF $17.00
Increases 2.0%/1/yrs
Pop 5Mi 67,009
Lot/AC 1.58
Options 2/5yrs/2%
AHHI 5Mi $67,219

Lease Highlights

  • Brand-new 10-year lease with 2 (5-year) options to extend
  • Lease features 2% annual rent increases throughout the initial term and each option period
  • Favorable NN+ with landlord responsibilites limited to roof and structure
  • Corporate guarantee by Jackson-Madison County Grand Hospital
  • Jackson-Madison County Grand Hospital is an investment grade tenant (S&P: A-)

Location Description

This West Tennessee Health Care - Senior Service Division facicilty is positioned along North Parkway which sees 11,800 vehicles per day and backs up to North Highland Avenue which experiences over 21,925 vehicles daily. Interstate 40 (46,790 VPD) is located directly north of the property, and to the west is US 45 Bypass (48,193 VPD), two major thoroughfares for the area. Located within a...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: West Tennessee Health Care
  • Guarantor:Corp Rated
  • Company:Jackson-Madison County Grand Hospital
  • # Units:90
  • Tenant S&P: A-
  • Moody’s: A2
  • Stock:Private

About Tenant

West Tennessee Health Care is a public, not-for-profit, multi-specialty health care provider with 90 different hospitals and medical centers serving more than half a million patients a year across...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,408 39,589 66,711
2023 Total Population : 6,514 40,070 67,066
2023 Employed Civilian Pop : 2,780 15,498 27,718
2023 Total Businesses : 407 2,692 3,472
2023 Average Household Income : $ 79,938 $ 66,375 $ 73,196
2023 Total Consumer Spending : $ 201 M $ 940 M $ 1723 M
2023 Median Age : 39 36 37
2023 Total Households : 2,882 16,134 26,985
2023 Pop Age 25+: Bachelor's Degree : 861 4,573 8,141
2023 Average Home Value : $ 201,830 $ 210,548 $ 222,144
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Rutledge Pl 2022 12,475 0.07 mi
North Pkwy Rutledge Pl 2012 11,783 0.07 mi
N JACKSON Birchwood Ln 2019 7,785 0.26 mi
North Highland Avenue Pine Tree Dr 2022 21,732 0.26 mi
US 45 Old Hickory Blvd 2021 21,907 0.26 mi
JACKSON Old Hickory Blvd 2019 16,443 0.29 mi
Old Hickory Boulevard Greenfield Dr 2022 7,539 0.30 mi
Old Hickory Boulevard East North Pkwy 2022 7,057 0.41 mi
OLD HICKORY BLVD. E. North Pkwy 2021 6,899 0.41 mi
Russell Road Northland Dr 2022 2,557 0.54 mi

Listing Broker

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