FOR SALE $2,100,000€¦ · FOR SALE CARENOW $2,100,000 Willard H. (Bill) Langhenry, MAI...
Transcript of FOR SALE $2,100,000€¦ · FOR SALE CARENOW $2,100,000 Willard H. (Bill) Langhenry, MAI...
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FOR SALECARENOW$2,100,000
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
2355 E. GRAPEVINE MILLS CIRCLE
GRAPEVINE, TX
Property: CareNow Medical Facility, approximate 3,855 SF medical building. Masonry construc� on.
Tenant: CareNow operates 24 Medical Facili� es in the DFW area
Lease: Approximately 4 years remaining on 5-year renewal lease (same tenant since 1998), NNN leaseLoca� on: CareNow is located along E. Grapevine Mills Circle, with direct frontage on the TX-121 service
road. The site is directly in front of the Grapevine Mills Mall and adjacent to Bass Pro Shop.Na� onal-credit tenants in the surrounding area include FedEx, Hya� , Hilton, Embassy Suites,
Comfort Suites, Starbucks, Chick-fil-A, Hampton Inn, LA Fitness, Whataburger, and Golden Corral
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INVESTMENT HIGHLIGHTSCARENOW- $2,100,000GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
15-Year original lease term commencedSeptember 1, 1998. There are now 4 Yearsremaining on the 5 Year renewal, plusOne (1), Five (5) Year Renewal Op� on at prevailing market rate.
Lease Commencement: September 1,1998
Outstanding location in a high-growth,affluent area
Profitable Urgent Care provider with24 facilities throughout the DFWMetroplex.
Good quality masonry construction –building completed in 1998.
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LOCATION MAPCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
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LOCATION MAPCARENOWGRAPEVINE, TX
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AERIAL MAPCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
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AERIAL MAPCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
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LEASE ABSTRACTCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
Tenant: Primary Health Inc., a Texas Corporation d/b/a CareNow
Completion : September 1, 2018
Term: 15-Year original lease term commenced Sept 1998. 4 Years remaining on a 5-Year
renewal, plus One (1), Five (5) Year Renewal Op� ons at prevailing market rate
LeaseCommencement: September 1, 1998
Building Size: Approximately 3,855 (100% leased to a single tenant)
Land Size: 23,598 SF or 0.5417 acres
Rent/ Month Rent/ AnnumRental Rate: Current through 8/30/18 $13,450 $161,400
One, 5-year option at market rental rate.
NNN Expenses: Tenant is responsible for all expenses arising from the use or operation of theproperty including taxes, insurance, utilities, and common area maintenance,
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YIELD ANALYSISCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920, Ext. 1
214-893-5331 Cell
Price: $2,100,000 – All Cash
Annual Rental Income : $161,400 (3,855 SF @ $41.56/SF)
Less:
Structural Reserve @ $0.15/SF: (600)
Management @ $100/month: (1,200)
Net Opera� ng Income: $159,600
Capitaliza� on Rate: 7.60%
Sales Price/SF @ 3,855 SF $544.75
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TENANT DESCRIPTIONCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
CareNow medical centers provide convenient medical care to families in the Dallas/Fort Worth area. Qualified physicians treat a range of Primary Care, Urgent Care and Occupa� onal Medicine needs. Most insurance is accepted. No appointment is needed and pa� ents can check-in online.
The doctors at CareNow are ready to meet all of a family’s general Primary Care medical needs, from sniffles to school physicals and beyond. They offer hours, loca� ons and services that make them more convenient than an ordinary doctor’s office
CareNow offers a full range of Physical Therapy services at four loca� ons in the Metroplex. Experienced Physical Therapists guide pa� ents through individualized treatment programs, designed to involve pa� ents in their recovery and teach them about proper body mechanics at therapy facili� es.
CareNow offers a comprehensive range of occupa� onal medicine services (OccMed services) as an occupa� onal health center to keep employees healthy and working safely. Their physicians emphasize a back-to-work mentality as theytreat your employees. They also work directly with pa� ents to provide clear answers about the health of their people using a number of detailed management reports.
CareNow can set up an occupa� onal medicine plan customized to corporate needs using a computerized Preference Card. You simply fill out your preferences for OccMed protocol, and that informa� on is put into prac� ce by adding it to an employees’ charts.
When people can’t wait to get well, they go to CareNow. They avoid the long waits and other difficul� es and high cost of going to a hospital emergency room for many Urgent Medical Care issues. Every CareNow center offers expert suture care for cuts, has complete x-ray facili� es for sprains and breaks, and is typically open un� l 10pm on weekdays, 8pm on Saturday and 5pm on Sunday.
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24 LOCATIONS IN THE DFW METROPLEXCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
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SURVEYCARENOWGRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
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SITE PLANCARENOWGRAPEVINE, TX
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ADDITIONAL PHOTOGRAPHS– SURROUNDING RETAILCARENOWGRAPEVINE, TX
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ADDITIONAL PHOTOGRAPHS– CARENOW FACILITYCARENOWGRAPEVINE, TX
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FLOOR PLANCARENOWGRAPEVINE, TX
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INFORMATION ABOUT BROKERAGE SERVICESCARENOWGRAPEVINE, TX