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Concentra Urgent Care - Providence, RI 290 Branch Ave 8,500 SF Office Building Providence, RI 02904 $7,218,069 CAD ($849.18 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporately guaranteed by Concentra Health Services, Inc. (NYSE: CON).
- 15+ year operating history at the site, paired with a recent 10-year extension, suggests Concentra is dedicated to this location.
- Trophy location in downtown Providence, RI, with 221,557 residents within a 3-mile radius of the property.
- Concentra is the nation’s leader in occupational medicine and premier provider of urgent care services with 550+ locations in 41 states.
- Long-term 10-year Triple Net (NNN) Lease with attractive 2% annual increases and minimal landlord responsibilities.
- Excellent visibility along Branch Ave and close proximity to I-95, which sees 142,000 vehicles per day.
EXECUTIVE SUMMARY
We are pleased to present exclusively for sale the 8,500 SF Concentra Urgent Care located at 290 Branch Ave in Providence, RI. This deal includes a long-term 10-year Triple Net (NNN) Lease with attractive 2% annual increases and minimal landlord responsibilities, ensuring consistent returns backed by a nationally recognized medical operator.
In Cooperation With ParaSell, Inc., A Licensed Rhode Island Broker - Lic. #REC.0018146 BoR: Scott Reid - Lic. RI #REC.0018146
In Cooperation With ParaSell, Inc., A Licensed Rhode Island Broker - Lic. #REC.0018146 BoR: Scott Reid - Lic. RI #REC.0018146
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
8,500 SF
Building Class
C
Year Built
2009
Price
$7,218,069 CAD
Price Per SF
$849.18 CAD
Cap Rate
6%
NOI
$433,084 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
8,500 SF
Building FAR
0.20
Lot Size
0.97 AC
Zoning
M1
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Concentra
- Health Care and Social Assistance
- 8,500 SF
- $50.95 CAD
- Double Net
- Jun 2035
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Concentra | Health Care and Social Assistance | 8,500 SF | $50.95 CAD | Double Net | Jun 2035 |
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | PROV-740394-000000-000000 | Improvements Assessment | $1,386,707 CAD |
| Land Assessment | $796,093 CAD | Total Assessment | $2,182,800 CAD |
PROPERTY TAXES
Parcel Number
PROV-740394-000000-000000
Land Assessment
$796,093 CAD
Improvements Assessment
$1,386,707 CAD
Total Assessment
$2,182,800 CAD
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Concentra Urgent Care - Providence, RI | 290 Branch Ave
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