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Scott & White Clinic, Leander, TX

Scott & White Clinic

TX, United States

Price $5,085,000
Cap Rate
NOI
Lease Term 6 Years
Lease Type
Rental Increases $1.50 PSF in Year 6 and adjustments to prevailing Fair Market Value in option periods
Year Built 2011
Building Size 12,457 sq. ft.
Lot Size 2.09 Acres (91,040 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

SINGLE TENANT NET LEASE WITH SCHEDULED RENT INCREASES
» 10-year lease with 7 years remaining
» Rental increases in the primary term and option periods, providing a hedge against inflation
» Building was built in 2011 to tenant’s unique specifications

LOCATED IN THE RAPIDLY GROWING AUSTIN MSA
» Leander is part of the Austin MSA, which is the 35th largest metropolitan area in the United States
» Forbes continues to rate the Austin MSA as one of the fastest growing markets in the United States
» The Austin MSA is defined by stunning growth, lower business and living costs, and a youthful, well-educated work force

STRONG DEMOGRAPHICS IN THE TRADE AREA
» Population over 87,300 in a 5 mile radius, with a projected growth rate over 3.36% over the next 5 years
» Average household income of $93,500 in a 5 mile radius

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located in a highly trafficked area of Leander, less than one mile south of downtown, with frontage along heavily traveled South U.S. Highway 138, with 22,000 average daily traffic count in front of the property. The site is located directly across from the Crystal Crossing residential community and less than a half mile from the Gateway Shopping Center, anchored by Lowe’s Home Improvements and Kohl’s and featuring over 121,500 square feet of junior tenants. Just over a mile north of the property is the H-E-B Plus! anchored shopping center, which includes national and regional tenants such as Chase Bank, Subway, and Texell Credit Union. Approximately four miles south of the property is the 93-bed Cedar Park Regional Medical Center. The center provides complete inpatient, outpatient, surgical, and emergency care. The subject property will have great synergistic value with this medical center and others in the area, as its focus is primarily devoted to outpatients. The site benefits from robust demographics, with a population of 69,960 and average household income of $91,915 within a 5-mile radius. Additionally, the site is centered in Leander’s rapidly growing school district, with Leander Middle School, New Hope High School, Wiley Middle School, Pleasant Hill Elementary School, and Rouse High School located within a two mile radius of the property.

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