Single-Tenant Net Leased Medical Surgery Center | 7.5% Cap Rate

Investment Overview

Opportunity to acquire a fully leased single tenant medical office and surgery center. The regional tenant Summit Spine & Joint Center has operating in the building for years and has just executed a new five-year triple net lease. Summit Spine & Joint Center operates 17 ambulatory surgery centers and 44 clinics, making it one of the largest interventional spine care networks in the Southeast. While the offering provides investors reliable income, acquiring a surgery center well under replacement cost at only $211/SF offers tremendous value. The attractive brick facility features two well built out procedure rooms, an effective medical floor plan and a covered canopy for patient drop-off. The facility is well suited for the tenant and for a multitude of medical uses. The property is well-located In Ringgold, a popular high-growth and affluent suburb of Chattanooga, Tennessee within a few miles of variety of medical facilities including CHI Memorial Hospital. And get this. The office vacancy in the Catoosa County market is only 1.2%. A contiguous level 1.31-acre commercial site is also available for $400,000.