NNN Medical Building | 11 Yr WALT | 3% Rent Increases

Highlights:

• NATIONAL & REGIONAL TENANTS: 100% occupied by two medical tenants, Summit Medical Group (regional medical tenant) and English Mountain Recovery (Summit BHC - national medical tenant).
• LONG TERM LEASES: Summit Medical Group signed a new 15-year NNN lease and English Mountain Recovery signed a new 7-year NNN lease. Both leases include 3% annual rent increases.
• NNN LEASES: Both tenants have the responsibility of paying for all the costs associated with the property, such as property taxes, building insurance, repair and maintenance.
• CAPITAL IMPROVEMENTS: Summit Medical Group’s space underwent a $600K renovation in 2023 and English Mountain Recovery is undergoing a $100K renovation to their space.
• LOCATED IN MEDICAL CORRIDOR: Located across the street from LeConte Medical Center (recognized as a Top 100 Community Hospital) and next to a VA Medical Center, the Sevier County Health Department and the Burchfiel Medical Professional Building.
• MAJOR TOURIST DESTINATION: Sevierville attracts tourists due to its proximity to popular attractions such as the Great Smoky Mountains National Park, Dollywood theme park, and various outdoor recreational activities like hiking, fishing, and camping.

Description:

MIDDLE CREEK MEDICAL ARTS BUILDING is a 14,135 square foot multi-tenant medical office building located in Sevierville, TN leased to Summit Medical Group (regional medical tenant) and English Mountain Recovery (acquired by Summit BHC - national medical tenant). Both tenants are on long leases NNN leases with 3% annual increases.

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