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1246 N Farm to Market 3083 Rd WConroe, TX 77304
1246 N FM 3083 W
Asset ClassHealthcare Facility
Weighted Average Lease Term5.1 Years
Square Feet: 19,482% Leased: 91%Parking Spaces: 104 SpacesAccess Data Room
Value Add Healthcare Opportunity
overview of deal

Overview

This multi-tenant medical office building located at 1246 N

FM 3083 W Conroe, TX 77304 (the "Property"). Boasting a footprint of approximately 19,482 square feet, this property was developed in 2017 and is currently 91% leased. The asset is anchored by VIP Surgical who plans to sign a 10-year lease extension which would push the WALT to 8.87 Years. Next Level Urgent Care and Dominion Aesthetics make up the rest of the rent roll while still offering upside to a new investor with 1,820 square feet available for lease. The vacant suite has an MRI and CT machine in the space offering incredible value to a prospective tenant.

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Investment Highlights

  • New construction MOB offering investors a value-creation opportunity through leasing of the vacant 10%
  • Lease extension opportunity with the Anchor Surgery Center that would push the WALT to nearly 9 years
  • NNN lease asset with minimal landlord responsibilities
  • Fee simple ownership, no ground lease restrictions
  • Strong in-place healthcare occupancy with a diversified rent roll and strong occupancy history
  • Positioned on a 4AC lot bolstering an impressive 104 parking spaces which is a 5:1 ratio, more than sufficient parking for all current and future tenants, staff, and patients
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1246 N Farm to Market 3083 Rd WConroe, TX 77304

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Listing provided by Revere CRE