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1005 Campus Cir 17,924 SF Office Building Hermitage, PA 16148 $8,214,846 CAD ($458.32 CAD/SF) 7.24% Cap Rate
Investment Highlights
- NNN Lease Structure – Tenant is responsible for taxes, insurance, and CAM, providing investors with a truly passive income-producing asset.
- Healthy Lease Term Remaining – Approximately 4.5 years left on a newly structured 5-year lease that commenced in the 2025 fiscal year.
- Build-to-Suit Construction – Purpose-built in 2005 for Dr. Tonnies’ orthopedic and physical therapy practice, designed to support long-term clinical o
- Appraised at List Price – Seller recently obtained an appraisal validating the property’s value at the current list price.
Executive Summary
This offering presents a fully leased, single-tenant medical office property occupied by Hermitage Orthopedics and Sports Medicine, a well-established orthopedic and physical therapy practice. The asset is positioned on an expansive 11.16-acre parcel and features a purpose-built facility constructed in 2005 to accommodate specialized medical operations. The property benefits from a newly executed five-year NNN lease commencing October 2025, providing investors with a stable and predictable income stream.
The lease includes 3% annual rental escalations and two three-year renewal options, ensuring long-term occupancy and income growth. The tenant has provided both business and personal guarantees, supported by a net worth exceeding $8 million, and has placed a $1.2 million escrow holdback, reinforcing financial security and commitment to the location.
Strategically located in Hermitage, PA, the property is part of a robust healthcare ecosystem anchored by UPMC Horizon and Sharon Regional Medical Center. The area offers strong connectivity via U.S. Route 18 and Interstate 80, with proximity to Pittsburgh, Erie, and Youngstown. Hermitage’s stable demographics, growing healthcare demand, and ongoing economic development initiatives—including the Hickory Fields redevelopment and LindenPointe Innovation Campus—further enhance the property’s long-term investment appeal.
This asset combines a high-quality medical facility, a credit-backed lease structure, and a thriving regional healthcare market, making it an attractive opportunity for investors seeking durable income and minimal management responsibilities.
The lease includes 3% annual rental escalations and two three-year renewal options, ensuring long-term occupancy and income growth. The tenant has provided both business and personal guarantees, supported by a net worth exceeding $8 million, and has placed a $1.2 million escrow holdback, reinforcing financial security and commitment to the location.
Strategically located in Hermitage, PA, the property is part of a robust healthcare ecosystem anchored by UPMC Horizon and Sharon Regional Medical Center. The area offers strong connectivity via U.S. Route 18 and Interstate 80, with proximity to Pittsburgh, Erie, and Youngstown. Hermitage’s stable demographics, growing healthcare demand, and ongoing economic development initiatives—including the Hickory Fields redevelopment and LindenPointe Innovation Campus—further enhance the property’s long-term investment appeal.
This asset combines a high-quality medical facility, a credit-backed lease structure, and a thriving regional healthcare market, making it an attractive opportunity for investors seeking durable income and minimal management responsibilities.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
17,924 SF
Building Class
B
Year Built
2005
Price
$8,214,846 CAD
Price Per SF
$458.32 CAD
Cap Rate
7.24%
NOI
$594,755 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
17,924 SF
Building FAR
0.04
Lot Size
11.16 AC
Parking
45 Spaces (2.51 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Hermitage Orthopedic/sports Medicine
- Services
- -
-
$9.99
-
Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Hermitage Orthopedic/sports Medicine | Services | - | $9.99 | Lorem Ipsum | Jan 0000 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 12-158-330-001-006 | Improvements Assessment | $552,697 CAD |
| Land Assessment | $229,139 CAD | Total Assessment | $781,835 CAD |
Property Taxes
Parcel Number
12-158-330-001-006
Land Assessment
$229,139 CAD
Improvements Assessment
$552,697 CAD
Total Assessment
$781,835 CAD
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1005 Campus Cir
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