Patient First Northern Virginia — Sale in Manassas, VA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Manassas, VA 20110

Investment Figures

Cap rate
5.75%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

EXPANDING REGIONAL URGENT CARE – The Tenant, Patient First is subject to a NNN corporate ground lease that commenced in June 2010 and has 4.5 years remaining. Patient First operates within a 6,552-square-foot building on 0.72 acres which is cross-parked with the neighboring Evergreen Terrace Shopping Center in Manassas, Virginia, a suburb of the greater Washington, D.C. metropolitan area. As with any medical fit out, its expensive buildout is costly to replicate therefore increasing the probabilities of renewal in this location. The buildout features a design enabling the tenant to provide a large range of medical services including urgent care, immunizations, lab testing, x-rays, and occupational health practices. STRONG PLACER.AI & UNIQUE OPTION STRUCTURE - The Patient First lease features a unique, highly beneficial, option renewal structure. Set to expire in 4.5 years, Patient First has three, 10-year options available. In the first option, the rent resets to Fair Market Value, protected by a floor of the current rent. Additionally, over the next 15-years, rent escalates by 14% every 5 years, before resetting to Fair Market value in Option 3. According to Placer AI, this location recorded 104.6K visits over the past year which ranks in the 82nd percentile across the chain nationally and as the most visited location within a 15-mile radius. When combined with the chain’s expensive medical buildout and strong Placer.ai ranking, it is likely the new owner will benefit immensely from the renewal structure. Investment Highlights: • RARE 10-YEAR FMV OPTION PERIODS • STRONG PLACER.AI AND HIGH MEDICAL BUILDOUT SUPPORT HIGH LIKELIHOOD OF RENEWAL • EXPANDING REGIONAL BRAND WITH 79 LOCATIONS; IMPLIED INVESTMENT GRADE CREDIT

Market Context

This retail in Manassas, VA is listed for sale. It is offered at an approximate 5.8% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 100 days. Compare it against other retail listings for sale in Manassas, VA — view the full market.

Contact

Explore this market

Similar Retail Business for Sale in Manassas, VA