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Optima Dermatology 5817 Happy Hollow Rd 5,738 SF Office Building Milford, OH 45150 $8,468,784 CAD ($1,475.91 CAD/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Lease
- Attractive Rent Increases
- Strategic Location
- New Construction
- Strong Operator
- Strong Demographics
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single-tenant, triple-net leased Optima Dermatology investment property located at 5817 Happy Hollow Road in Milford, Ohio (the “Property”). The Property was build-to-suit for Optima Dermatology in 2023 with a brand-new, 15-year lease that currently has over 13 years of term remaining followed by six (6), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. The Property is strategically located along Ohio Route 28, the primary retail and commercial throughfare in the area, and is just off of Interstate 275. Optima Dermatology benefits from excellent visibility and is exposed to high daily traffic counts. The location is across the street from the Delco Plaza Shopping Center, one of many large retail centers along OH Route 28 all of which create a major trade area with numerous national retailers and restaurants, in addition to local business and services. Milford is part of the Cincinnati MSA and is positioned 15 miles east of the city.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
5,738 SF
Building Class
B
Year Built
2023
Price
$8,468,784 CAD
Price Per SF
$1,475.91 CAD
Cap Rate
7%
NOI
$592,814 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,738 SF
Building FAR
0.13
Lot Size
1.02 AC
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Optima Dermatology
- Health Care and Social Assistance
- -
- -
- Triple Net
- Jul 2038
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Optima Dermatology | Health Care and Social Assistance | - | - | Triple Net | Jul 2038 |
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Optima Dermatology | 5817 Happy Hollow Rd
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