loader
Join Free
Views: 103 DOM: 163 Updated: 11.06.24 Posted: 07.10.24 Status: Active

Summary

Price $2,550,000
Built/Renov 2008/2023
Tenant UPMC
Cap Rate 6.82%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 8,000
Lease Start 02-01-2024
#Units 840
Price/SF $318.75
Expiration 01-31-2034
Tenant Type Medical/Health
NOI $173,873
R. Term 9.1
Ownership Fee Simple
Rent/SF $21.73
Increases 10.0%/5/yrs
Pop 5Mi 6,573
Lot/AC 2.68
Options 1/5yrs/10%
AHHI 5Mi $69,804

Lease Highlights

  • UPMC has 9 years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features 10% rental escalations throughout the initial term an option periods
  • Corporate guaranteed lease

Location Description

UPMC is strategically located on Raystown Road, with access to 3,800 vehicles passing by daily. The property is regionally accessible due to its proximity to major interstates and highways, specifically U.S. Route 30, I-99, which connects to State College, PA and Penn State University’s main campus, and the PA Turnpike (I-76), which sees 36,543 VPD. Additionally, many retail amenities surround...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: UPMC
  • Guarantor:Corp Rated
  • Company:UPMC
  • # Units:840
  • Tenant S&P: A
  • Moody’s: A1
  • Stock:Private

About Tenant

University of Pittsburgh Medical Center, known as UPMC, is a world-renowned, nonprofit healthcare provider and insurer committed to delivering exceptional, people-centered care and community...


...

Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 379 4,198 6,835
2024 Total Population : 386 4,230 6,883
2024 Employed Civilian Pop : 167 1,890 3,195
2024 Total Businesses : 16 193 339
2024 Average Household Income : $ 78,630 $ 72,393 $ 76,695
2024 Total Consumer Spending : $ 11 M $ 122 M $ 210 M
2024 Median Age : 54 47 49
2024 Total Households : 156 1,860 3,028
2024 Pop Age 25+: Bachelor's Degree : 44 275 539
2024 Average Home Value : $ 280,839 $ 194,951 $ 229,624
*ESRI data is presented for informational purposes only

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity