Richland, WA - BestMed

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, BestMed Urgent Care investment property located in Richland, Washington. The tenant, Community Care Partners, LLC has over 14 years remaining with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features annual 2% rental increases throughout the initial term and at the beginning of the first option period, steadily growing NOI and hedging against inflation. At the beginning of the second option period the rental increase is 10.40%. The lease is NNN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The property is located near the signalized, hard corner intersection of George Washington Way and Williams Blvd with a combined (95,400 VPD). George Washington Way, is a major retail thoroughfare serving the city of Richland. The BestMed Urgent Care is positioned just south of Washington Plaza, a 137,000 SF shopping center with major national/credit tenants including Safeway, Big Lots, Planet Fitness, and more. Additionally, the asset is located a few miles northeast of Vintner Square,
a 308,000 square foot Target, Grocery Outlet, Marshalls, and Ross Dress for Less anchored center. Furthermore, BestMed Urgent Care is positioned less than a mile northeast of Kadlec Regional Medical Center, a 24/7 hospital with over 275 staffed hospital beds. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Dollar Tree, Big 5, 7-Eleven, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 109,800 with an affluent average household income of $128,826.