doctors

Doctors Pavillion

46 SGT. PRENTISS DR. NATCHEZ, MS

Price: 

$7344912

Cap:

6.25%

NOI:

$459057

Square Footage:

47,755

Lot Size:

0 Acres

Year Built/Remodeled:

2005

MISSISSIPPI BROKER OF RECORD: BANG REALTY OF MISSISSIPPI, INC

Property Description: 

Capital Commercial Partners is pleased to bring to the market Doctors Pavilion, a 93% leased 47,755 sf multi-tenant “Class A” medical office building located in Natchez, MS. The building was constructed in 2005 and the investment offers ease of management with 7 tenants. The tenants are on long term leases and are staggered between 2023-2030. Merit Health is the anchor and occupies 57% of the net rentable square footage on long term leases through 2028/2030.

The building is located on a 0.58 acre site immediately adjacent to the Merit Health Hospital. It is connected to the hospital via sky bridge and accesses all hospital parking via a reciprocal easement agreement. The building has rights to 199 parking spaces, representing a healthy 4.17 cars per 1,000 sf of rentable area.

The hospital has 179 beds and is the only acute care hospital facility within 60 miles. It has operated there since 1960. It offers a comprehensive array of medical services to patients in five surrounding Mississippi counties and two Louisiana parishes. It is protected against additional competition by Certificate of Need provisions under state law.  

The property benefits from its location directly next to Merit Health Hospital and is at the intersection of I-84 & I-425. It also benefits from being close in proximity to major routes into the city via U.S. Route 61, U.S. Route 84, U.S. Route 65, U.S. Route 98, Mississippi Highway 554 and 555.

This is a unique opportunity for an investor to acquire a Class A medical office asset with long term leases in a great location with replaceable rents.

Investment Highlights:

Class A medical office investment
Merit Health occupies 57% with long term leases in-place through 2028/2030
Located directly adjacent to Merit Health Hospital with connecting skybridge
Rents all below $20 PSF

Financial Summary:

All Cash

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