loader
Join Free
Views: 79 Updated: 05.21.24 Posted: 05.02.23 Status: Inactive

Summary

Price $3,725,613
Built/Renov 1993/2008
Tenant Memorial Health System
Cap Rate 7.50%
Lease Type NN+
Guarantor Corporate
Size/SF 9,835
Lease Start 09-30-2019
#Units 110
Price/SF $378.81
Expiration 01-31-2027
Tenant Type Medical/Health
NOI $279,421
R. Term 2.2
Ownership Fee Simple
Rent/SF $28.41
Increases 3.0%/1/yrs
Pop 5Mi 49,360
Lot/AC 0.90
Options 4/5yrs/3%
AHHI 5Mi $61,090

Lease Highlights

  • Memorial Health System exercised a 5-year lease extension early and removed their termination option
  • The lease features 4 (5-year) options to extend
  • Rent for the renewal options shall be fair market rental value in the first year with 3% renewal escalations thereafter
  • Favorable NN+ lease with landlord responsibilities limited to roof & structure
  • Memorial has been recognized as a 2022-2023 Best Hospital in Mississippi by U.S. News & World Report

Location Description

The 9,835-square-foot Memorial Health System property is positioned in a high-traffic area just blocks from the beach. It is within proximity to several highly traveled thoroughfares; West Beach Boulevard (30,000 VPD), 25th Avenue (42,000 VPD), and Interstate 10 (63,000 VPD). The subject property is positioned less than one-half mile south of the Memorial Hospital Gulfport, a 328-bed acute...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Memorial Health System is a comprehensive, integrated health care organization located in Mississippi. Memorial’s expansive footprint includes two hospital facilities, three outpatient surgery...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,735 27,497 50,768
2023 Total Population : 5,714 27,086 49,877
2023 Employed Civilian Pop : 2,024 9,916 19,304
2023 Total Businesses : 231 1,380 2,383
2023 Average Household Income : $ 46,215 $ 53,883 $ 64,283
2023 Total Consumer Spending : $ 94 M $ 507 M $ 1137 M
2023 Median Age : 39 36 38
2023 Total Households : 2,314 10,720 20,230
2023 Pop Age 25+: Bachelor's Degree : 363 1,845 4,648
2023 Average Home Value : $ 158,892 $ 161,184 $ 186,262
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Railroad St Broad Ave 2018 4,500 0.13 mi
42nd Ave Central St 2018 1,000 0.17 mi
42nd Ave Finley St 2006 5,100 0.29 mi
42nd Ave 14th St 2018 2,700 0.29 mi
Broad Avenue W Beach Blvd 2018 5,800 0.30 mi
W Railroad St 39th Ave 2005 290 0.31 mi
Camp Avenue Finley St 2018 440 0.33 mi
W Beach Blvd 41st Ave 2005 30,000 0.36 mi
Broad Avenue 13th St 2018 6,600 0.36 mi
West Beach Boulevard 38th Ave 2018 24,000 0.37 mi

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