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Updated over 2 years ago,
MI dental practice abs. NNN
I see a lot of healthcare properties (dentists, eye dr., etc.) listed by Matthews. As an example is one below, been sitting on the market for 167 days. Located off the beaten path in MI, so not a hot location. But 3% annual rent increases, 10 years left on lease term, solid tenant, cap rate 6.75%. This is just one example of a number of stale medical properties listed. Other than mediocre location, what am I missing?
Also, any overall thoughts on the medical property space, which interests me because people need healthcare in person regardless of economy, so more recession-resistant I would think.