Investment Highlights
- 2 Property – 67,161 SF MOB Portfolio
- 27% Credit Leased – A+ Credit Rated SSM Healthcare & BBB+ Credit Rated AT&T Subsidiary
- Situated Near the 111 Bed Barnes-Jewish St Peters Hospital
- 25 Miles from Downtown St. Louis
- 1 Mile from the 1M+ SF Mid Rivers Mall
- Highly Visible from the Interstate I-70 and Highway 70 Interchange
Offering Summary
| Price | $10,500,000 |
| Down Payment | (35%) $3,675,000 |
| Loan Amount | $6,825,000 |
| Loan Type | Proposed New |
| Interest Rate / Amortization | 4.500% / 30 Years |
| Rentable SF | 67,161 |
| Price Per Rentable SF | $156.34 |
| Year Built | 2003 |
| Parcel Size | 5.17 AC |
| Cap Rate – Current | 7.57% |
| Net Cash Flow After Debt Service – Current | 10.33% |
| Total Return -Current | 14.17% |
Investment Overview
M&M
Major Tenants
- SSM Healthcare
- LM Berry (AT&T)
- Pain Management
- Mid Rivers Surgery
- St Charles Dermatology
- St Charles Orthopedic
- Fertility Institute
- Dealer Protection
Operating Data
| Income | Current |
| Base Rent | |
| Occupied Space | $1,248,061 |
| Available Space at Market Rents | $176,847 |
| Gross Potential Rent | $1,424,908 |
| Expense Reimbursements | $61,384 |
| Gross Potential Income | $1,486,292 |
| Vacancy / Collection Allowance | 12.4% / $176,847 |
| Effective Gross Income | $1,309,445 |
| Total Expenses | $514,883 |
| Net Operating Income | $794,562 |
| Debt Service | $414,975 |
| Debt Coverage Ratio | 1.91 |
| Net Cash Flow After Debt Service | 10.33% / $379,586 |
| Principal Reduction | $141,157 |
| Total Return | 14.17% / $520,743 |
| Expenses | |
| Real Estate Taxes | $167,400 |
| Insurance | $17,500 |
| Utilities | $198,800 |
| Repairs & Maintenance | $31,100 |
| Management Fee | $39,283 |
| Janitorial | $20,300 |
| Fire / Life Safety | $6,300 |
| Elevator | $6,600 |
| Trash | $8,400 |
| Landscaping / Parking Lot | $19,200 |
| Total Expenses | $514,883 |
| Expenses Per SF | $7.67 |
Contact Information
Ryan Gonzales
Associate
Tel: (858) 373-3100
Fax: (858) 373-3110
License: CA 01109934
Ryan.Gonzales@marcusmillichap.com
www.marcusmillichap.com/RyanGonzales
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