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Views: 98 DOM: 179 Updated: 10.18.24 Posted: 06.07.24 Status: Active

Summary

Price $6,520,800
Built/Renov 2024
Tenant ConvenientMD
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,148
Lease Start 08-15-2024
#Units 47
Price/SF $1,266.67
Expiration 08-31-2039
Tenant Type Medical/Health
NOI $391,248
R. Term 14.9
Ownership Fee Simple
Rent/SF $76.00
Increases 10.0%/5/yrs
Pop 5Mi 52,607
Lot/AC 1.25
Options 5/5yrs/10%
AHHI 5Mi $153,936

Lease Highlights

  • Brand-new 2024 construction
  • Brand-new 15-year lease with 5 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

ConvenientMD is strategically located on Pleasant Valley Road, with access to 29,000 vehicles passing by daily. The property benefits from outstanding visibility, frontage, and access and is positioned adjacent to the primary entrance to Pleasant Valley Crossing, a new construction regional shopping center anchored by Market 32 (regional grocery store) and home to Fresenius, Starbucks, Five...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: ConvenientMD
  • Guarantor:Corporate
  • Company:Bain Capital Double Impact
  • # Units:47
  • Stock:Private

About Tenant

ConvenientMD is a leading urgent care provider in New England. Their walk-in medical facilities provide treatment for injuries and illnesses, on-site COVID-19 testing, X-rays, labs, minor...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 1,620 17,419 51,915
2024 Total Population : 1,639 17,554 51,999
2024 Employed Civilian Pop : 981 9,959 28,481
2024 Total Businesses : 86 506 1,470
2024 Average Household Income : $ 165,752 $ 148,113 $ 149,653
2024 Total Consumer Spending : $ 93 M $ 899 M $ 2626 M
2024 Median Age : 45 44 43
2024 Total Households : 661 7,078 20,527
2024 Pop Age 25+: Bachelor's Degree : 263 3,196 9,208
2024 Average Home Value : $ 604,296 $ 551,577 $ 547,865
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Boston Road 2019 8,244 0.17 mi
Boston Road Worcester-Providence Tpke 2022 7,609 0.17 mi
BOSTON ROAD Worcester-Providence Tpke 2021 7,617 0.17 mi
Dudley Road 2019 904 0.17 mi
DUDLEY ROAD Boston Rd 2021 836 0.17 mi
Dudley Road Boston Rd 2022 835 0.17 mi
Boston Rd Worcester-Providence Tpke 2001 5,800 0.18 mi
Boston Road Worcester-Providence Tpke 2022 3,948 0.21 mi
BOSTON ROAD Worcester-Providence Tpke 2021 3,952 0.21 mi
BOSTON ROAD Worcester-Providence Tpke 2020 3,529 0.22 mi

Listing Broker

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