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All Forum Posts by: Seth Smith

Seth Smith has started 1 posts and replied 1 times.

Commercial Real Estate Investing

Post: Urgent Care Facility

Seth SmithPosted
  • Posts 1
  • Votes 2

Hello,

I am considering making an offer on an urgent care. The price per sqft is very high for an office built out for medical use.. however, there is an in place tenant paying strong rent with 3% increases for 10 years (close to 7% cap, NNN)

What I don't understand is why the tenant agreed to pay close to 2X market comps in rent in price per sqft per year for this facility. It is mostly new building with new medical equipment. Do urgent care facilities really draw greater than $500 per sqft sales price

Has anyone invested in urgent care facilities? Any advice?

2 Votes