willo-medical

Willo Medical

36001 Euclid Ave, Willoughby, Ohio 44094

Price: 

$3500000

Cap:

8.00%

NOI:

$419,425

Square Footage:

25,647

Lot Size:

1.86 Acres

Year Built/Remodeled:

2005


Property Description: 

Willo Medical is a two-story medical office building directly across the street from Lake West Hospital. It was completely renovated in 2005 with over $1.2M in capital improvements. They include roof, exterior, front/rear parking lot (completely removed and replaced), HVAC, ADA elevator, and interior facelift. The investment offers substantial upside with additional lease-up of vacant space. Placing new debt yields a 11.67% cash on cash return and 19.06% total return based on current income.

Investment Highlights:

80% Occupancy Offering Real Upside
Completely Renovated 25,647 SF Medical Office Building
Directly Across from Lake West Hospital
Demand for Medical Office Space Continues to Grow in Submarket
Located in Willoughby's Main Retail Corridor
Surrounded by National Credit Tenants Including Target, Lowe's, OfficeMax, Petsmart, SBUX, Chipotle, Dunkin Donuts, and Panera
Strong Residual Land Value

Financial Summary:

75% LTV 3.75%, 25 year amortization, 5 year term

Other investment opportunities

OrthoNow

New York City, New York
$9000000
(5.00% CAP)

Available