patient first exclusive listing | clinton, md€¦ · client testimonial “usra has worked with...

Patient First | Clinton, MDOffering Memorandum

ANDREW FALLONEXECUTIVE MANAGING DIRECTOR

(703) 787-4733 [email protected]

Actual Site

EXCLUSIVE LISTINGOffering Memorandum

MICHAEL R. KATZREF ADVISORY, LLC | PRESIDENT


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C A L K A I N .C O MC A L K A I N .C O M

Patient First | Clinton, MD


9000 Woodyard Rd | Clinton, MD 20735

Price $9,050,000 | Cap Rate 5.70%

Net Operating Income (NOI) $515,826.52

Rent/Month $42,985.54

Rent/SF $62.75

Rentable Square Feet 8,220+/- SF

Land Area 1.242+/- Acres

Tenant Name Patient First Corporation

Website www.patientfirst.com

Guarantor Corporate

Ownership Type Fee Simple

Lease Type NNN

Landlord Responsibilities None

Year Built 2015

Lease Term Remaining 18 Years

Rent Commencement October 13, 2015

Lease Expiration October 31, 2035

Increases 10% in Years 11 & 16

Options Six (6), Five (5) Year with 10% Rent Increases

Rent Schedule

Term Increases Annual Rent Monthly Rent2016 (Current Term) - $515,826.52 $42,985.54

2025-2031 10% $567,409.17 $47,284.10

2031-2035 10% $624,150.09 $52,012.51

Years 21-25 (Option 1) 10% $686,565.10 $57,213.76

Years 26-30 (Option 2) 10% $755,221.61 $62,935.13

Years 31-35 (Option 3) 10% $830,743.77 $69,228.65

Years 36-40 (Option 4) 10% $913,818.15 $76,151.51

Years 41-45 (Option 5) 10% $1,005,199.96 $83,766.66

Years 46-50 (Option 6) 10% $1,105,719.95 $92,143.33

Investment Highlights• 18 years remaining

• Absolute NNN lease - no landlord responsibilities

• Washington, DC MSA

• Newly constructed, built in 2015 and located directly on Woodyard Road

• Surrounded by national retailers including Lowe’s, AutoZone, Rite Aid, Walgreens, CVS, Safeway, and more

• Strong demographics with population of 45,000 within 3 miles

• 34,041 VPD on Woodyard Rd

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Financial Summary


About Patient FirstPatient First is a chain of patient care centers

in the United States. The centers allow

patients to walk in and receive diagnosis

and treatments for common symptoms and

ailments that can receive outpatient care without an appointment. The company,

which is based in Glen Allen, Virginia, currently has locations in Maryland,

Pennsylvania, New Jersey and Virginia.

Since opening our first medical center in 1981, Patient First’s vision remains the

same: making access to quality medical care as convenient and cost-effective as

possible. To achieve this objective, they have adopted and continue to embrace

many innovative operating systems and practices.

• All Patient First medical centers are open every day of the year from 8 am

to 10 pm - including weekends and holidays.

• Patients can come at times that best fit their schedules and when urgent

medical attention is needed on days as well as at times when other facilities

are closed.

• No appointments are necessary. Patients can walk into a Patient First

center and receive prompt attention upon arrival. Patients who wish to see

a particular physician or physician assistant can call ahead or go online to

explore the dates and times when that person will be seeing patients.

• X-rays, lab tests, and prescription drugs are available on-site to save time

and reduce the need for extra trips.

Patient First now offers both primary and urgent care services and participates

in most insurance plans. They also provide a broad range of Occupational Health

services. There are currently 67 Patient First centers in the Mid-Atlantic region.

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Tenant Overview


Surrounding Retail

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Distance To:Alexandria, VA 14 miles

Washington, DC 14 miles

• $99,407 median household income within 1 mile radius

• Growing Washington, DC suburb, with over 114,000 people within 5 miles

Washington, DC

Alexandria, VA

Clinton, MD

Location Overview

495

695

Joint Base Andrew

Subject Site

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Subject Site

Woodyard Rd 34,041VPD

Branch Ave100,772 VPD

Lab Corporation

486,777 SF of Retail

Blakaley Homes

206,049 SF of Retail

Clinton Plaza Shopping CenterWoodyard Crossing

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Clinton Village

Subject Site


Pine View Ln

7



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Site Plan


Clinton, MDClinton is an unincorporated census-

designated place (CDP) in the southern part

of Prince George’s County in Maryland,

United States. The population of Clinton

was 35,970 at the 2010 census. Clinton is

historically known for its role in the American

Civil War concerning the Abraham Lincoln assassination. Clinton is adjacent to

Camp Springs, Rosaryville, Melwood, and Andrews Air Force Base, home of the

Air Force Systems Command and the President’s plane Air Force One.

Save Surratt House Museum Clearwater Nature Center

Andrews Air Force Base

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Market Overview


Radius 1 Mile 3 Mile 5 MilePopulation2016 Population 9,048 46,207 114,844

2021 Population 9,312 48,510 121,146

2010-2016 Annual Rate 0.38% 0.80% 0.92%

2016-2021 Annual Rate 0.58% 0.98% 1.07%

2016 Male Population 47.9% 47.6% 47.3%

2016 Female Population 52.1% 52.4% 52.7%

2016 Median Age 45.1 40.8 39.9

Households2016 Total Households 3,096 15,581 40,305

2021 Total Households 3,172 16,258 42,219

2010-2016 Annual Rate 0.22% 0.64% 0.77%

2016-2021 Annual Rate 0.49% 0.85% 0.93%

2016 Average Household Size 2.77 2.91 2.82

Median Household Income2016 Median Household Income $99,407 $97,840 $90,179

2021 Median Household Income $108,408 $105,758 $100,202

2016-2021 Annual Rate 1.75% 1.57% 2.13%

Average Household Income2016 Average Household Income $112,914 $111,188 $105,216

2021 Average Household Income $122,908 $121,393 $114,640

2016-2021 Annual Rate 1.71% 1.77% 1.73%

Per Capita Income2016 Per Capita Income $39,909 $38,065 $37,218

2021 Per Capita Income $43,016 $41,222 $40,213

2016-2021 Annual Rate 1.51% 1.61% 1.56%

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Demographics


ANDREW FALLONEXECUTIVE MANAGING DIRECTOR


Who Are We? We are a national commercial real estate firm that provides consulting and brokerage services to both private and institutional clientele with an expertise on triple net lease investments. We pride ourselves on being a world class leader by providing our clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, estate planning and wealth management.

We have built solid relationships throughout our decades of experience and innovation, implementing long-term allocation within the context of each client’s particular risk tolerance and identifying how best to acquire and dispose of income producing properties for each entities’ specific set of investment criterion. At Calkain, our foresight and past performance are leading the net lease investment industry.

Our HistoryLike most success stories, Calkain was formulated from humble beginnings. Jonathan W. Hipp, President and CEO, took the initiative to build upon his decades of experience and performance and left a large international brokerage firm to become an independent and innovative leader within the triple net lease investment community. Armed with a sole employee and a single office, the firm has grown exponentially since its infancy in 2005.

With the growth in staff, seasoned professionals have been attracted to Calkain’s model of innovation, entrepreneurship and the fostering of long-lasting and meaningful relationships. Industry experts have joined Calkain in the hopes of implementing the skills they have honed in complementary aspects of real estate investment.

Through a tremendous endeavor, tireless hours have been committed to continually prove that Calkain is America’s Net Lease Company®. Its countless accolades received from the world’s leading business publications, including Forbes™, Fortune™ and the New York Times™ have confirmed that Calkain is a true leader in triple net lease investing services.

Client Testimonial

“USRA has worked with Calkain on numerous occasions. They have always been meticulous in their work ethic, providing superior service and extremely prompt attention to our needs. I highly recommend them.

–Jack Genende, Partner | U.S. Realty Advisors, LLC. (USRA)

$11.5 Billion in Closed Transactions

$300 Million

in Active Listings

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C A L K A I N .C O MC A L K A I N .C O M

About Calkain

DISCLAIMER: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regula-tions, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

Corporate Headquarters Washington, DC12930 Worldgate Drive | Suite 150 Herndon, VA 20170 T: (703) 787-4714 • F: (703) 787-4783

Tampa400 N. Tampa Street | Suite 2660 Tampa, FL 33602 T: (813) 282-6000 • F: (813) 282-6098

South Florida300 S. Pine Island Road | Suite 300 Fort Lauderdale, FL 33324 T: (954) 302-7365

Atlanta111 Village Parkway, Building 200 | Suite 202 Marietta, GA 30067 T: (404) 900-5629

Boston101 Federal Street | Suite 1900 Boston, MA 02110 T: (617) 261-8584

CALKAIN.COM

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patient first exclusive listing | clinton, md€¦ · client testimonial “usra has worked with...

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