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Xpress Wellness Urgent Care | Triple Net Lease Investment

$2,115,578

1805 ½ E 17th Avenue, Hutchinson, KS 67501

Active
Last Updated: 01/27/2021

6.65

Cap Rate

140,686

NOI

Details:
Cap Rate:    6.65%
NOI:    $140,686
Building Size:    3,600 sqft
Lot Area:    0.63 acres
Lease Type:    Absolute Net
Year Built:    2020
Price Per Sqft:    $587.66
Roof & Structure:    Tenant’s Responsibility
HVAC:    Tenant’s Responsibility
Repairs & Maintenance:    Tenant’s Responsibility
Highlights:
  • Brand New Construction Xpress Wellness Urgent Care – Opening in January 2021
  • Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities – Three (5) Year Option Periods and 1.25% Annual Rental Increases Beginning Year 3
  • Corporate Guarantee From Xpress Wellness Holdings, LLC
  • Strong Population of 37,509 Making an Average Household Income of $60,334 Within a 3-Mile Radius
  • Situated Right Off of Ken Kennedy Fwy and E 17th Avenue With a Combined VPD of Over 18,100 Vehicles
  • Xpress Wellness is Open 7 Days a Week Offering In-Network Providers, Online Check-In, Virtual Visits, Including Telemedicine and Ready to Treat Non-Life-Threatening Injuries and Illnesses
  • Xpress Wellness Urgent Care is the Largest Urgent Care Operator in Secondary Markets in Oklahoma With Recent Expansion Into the Kansas Market
  • Founded in 2014, Xpress Wellness Currently Has 19 Locations Across Oklahoma and Kansas With Plans to Open 14 Additional Clinics in 2020
  • In November 2018, Latticework Capital Management, a Dallas Based Private Equity Group, Partnered With Xpress Wellness Urgent Care Resulting in Additional Capital For Continued Growth For the Concept, Read More Here
  • Latticework Capital Management Has Broad Experience Across the Healthcare Ecosystem Having Completed Over 85 Transactions Across a Diverse Array of Healthcare Subsectors Representing Over $1.5 Billion of Equity Investments
  • Virtual Visits, Including Telemedicine, Quickly and Proficiently Expand the Xpress Wellness Operating Model Beyond Traditional Brick and Mortar
  • Service Lines Capture a Wide Range of Patients From Urgent Care, Primary Care, Occupational Medicine and Workers Comp
  • “Retailization” of Healthcare – Retail Focused Model Maximizes Patient Convenience and Comfort and Creates Synergies With Nearby Tenants
  • Presence Within Smaller Communities Makes Xpress Wellness a Rising Independent Provider in Rural Markets
  • Neighboring Tenants Include: Walmart Supercenter, ALDI, Home Depot, Lowe’s, Hobby Lobby, Dollar Tree, Goodwill, AutoZone, Petco, Chick-fil-A, Chili’s Grill & Bar, IHOP, Starbucks and More
Description:

Sands Investment Group is Pleased to Present Exclusively For Sale the 3,600 SF Xpress Wellness Urgent Care Located at 1805 ½ E 17th Avenue in Hutchinson, KS. This Opportunity Includes a New Construction 15-Year Triple Net (NNN) Lease With Zero Landlord Responsibilities, Providing For a Secure Investment.



In Cooperation With Sands Investment Group Kansas, LLC - Lic. #CO00002897
Broker of Record: Max Freedman – Lic. #00241927

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