Spectrum Eye Care Portfolio | MOB & STNL — Sale in Findlay, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Findlay, OH 45840
  • Year built: 2006

Investment Figures

Cap rate
7.85%

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

Marcus & Millichap is Pleased to Exclusively Present the Spectrum Eye Care Portfolio Located in Findlay and Lima Ohio. The Portfolio Consists of a Four Tenant Medical Office Building and a Single Tenant Eye Care Building both 100 Percent Occupied to Leading Healthcare Providers. The Two Medical Office Buildings Consist of Over 32,000 Combined Square Feet and Both were Developed in 2006 (Lima Renovated in 2017), Requiring Minimal Landlord Responsibility Under the Triple-Net (NNN) Leases. The Tenants in the Portfolio Include: Spectrum Eye Care (MOB and STNL), Blanchard Valley Health System, DeClerck Family Dental and Retina Vitreous Associates, who is Owned by CEI Vision Partners. The Four Tenants Cover the Whole Spectrum of Healthcare Services, Eye Care, Dentistry, Family/Primary Care and more. Three Out of the Four Tenants Feature Strong Corporate Guarantees Such as Blanchard Valley Health System, who has a Fitch Credit Rating of “A+” and Retina Vitreous Associates who is Guaranteed by CEI Vision Partners, and Backed by EyeCare Partners who has Over $1.4 Billion in Annual Revenue. The Spectrum Eye Medical Office Building is Located on the Eastern Side of Findlay, Directly Off of US Hwy 224 which Features a Traffic County Over 6,600 Vehicles Per Day. Additionally, the MOB is 1.2 Miles Away from Major Retail Center “Flag City Station” which is Home to National Credit Retailors such as Walmart, Meijer, Menards, Kohls, T.J. Maxx, PetSmart and many more in the Findlay Village Mall. The Single Tenant Spectrum Eye Care Facility in Lima is Just Northeast of the Lima Mall and Lima Plaza, Major Retail Centers with Ample Visitors Per Year. Investment Highlights: • 100 Percent Leased to National Credit and Local Healthcare Providers • Over $240,000 Invested in Upgrades and Capital Improvements • State-Of-The-Art Medical Offices Both Under 20 Years of Age (2006 and 2017)

Market Context

This office in Findlay, OH is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2006. It has been on the market for 100 days. Compare it against other office listings for sale in Findlay, OH — view the full market.

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