9th Avenue Medical Plaza

Highlights:

• 100% Occupied By 6 Strong Medical Tenants
• Nearly 50% of the GLA Leased to Baptist Hospital Cancer Center
• Property Features Extremely Expensive Build-Out Including Linear Accelerator & Vault
• Long Standing Occupancy With Most Tenants Having Been There Since 2006
• Regular Scheduled Rent Increases Secure Hedge Against Inflation as Well as Steady NOI Growth
• High Cap Rate With Strong Cash Flow From 100% Occupied Building
• This Property Has a Value-Add Component Featuring 1.95 Acres of Undeveloped Land
• Nearly ½ of the Parcel Undeveloped Providing Future Upside For an Investor By Building a Second Building
• Future Job Growth Over the Next 10 Years is Estimated at Approximately 30.79%
• Texas is One of the Few Income Tax-Free States in the Country
• Strong Traffic Counts – Over 26,000 Cars Per Day
• Ideally Located Within 1 Block From the Future Christus Healthcare Hospital Facility
• Trade Area Covers More Than 80,000 People in the Immediate Area Growing to Over 140,000 Within the Surrounding Area
• Average Household Incomes Average Above $80,000 in Immediate Area
• Adjacent To Central Mall Featuring Top National Retailers That Include: Walmart, McDonald’s, Starbucks, Target and Conoco
• Depending on Offer Price and Terms, Tenants With an Ownership Interest Are Open to Negotiating Early Extensions to Their Leases

Description:

Sands Investment Group is Pleased to Present For Sale the 9th Avenue Medical Plaza Which Consists of One Building, Totaling 25,075 SF on 4.23 Acres of Land. Built in 2006, the Building is Home to 6 Strong Medical Practices. Over 50% of the Space is Occupied By Baptist Hospitals of Southeast Texas. Each of the Other Tenants Support Baptist Hospital Offering a Synergistic and Destination Oriented Investment. In Addition to Being Offered at a 7.00% Cap Rate, This Property Has a Value-Add Component That Features 1.95 Acres of Undeveloped Land.


In Cooperation with Sands Investment Group Austin, LLC
BoR: Max Freedman Lic. #9004706

Documents: