Healthcare

MercyOne Centerville Medical Office Building

1 Saint Joseph Dr Centerville, IA United States 52544-9017
Asking Price Contact for pricing
Sq. Footage 15,748
NOI Net Operating Income N/A
Cap Rate N/A

Attributes

Year Built 2018

Property Description

MercyOne Centerville Medical Office Building for sale, a new, on-campus medical office building with 15,748 rentable square feet located in Centerville, Iowa. The property is fully leased to MercyOne Centerville Medical Center. The property has an irreplaceable location at MercyOne Centerville Hospital, which is the only hospital within a 20-mile radius. MercyOne Centerville Hospital is part of MercyOne, Iowa’s largest health system with eight hospitals and over 3,200 beds that is operated by a joint-venture between Trinity Health and Common Spirit, two of the nation’s largest faith-based not-for-profit health systems. The lease is guaranteed by Catholic Health Initiatives-Iowa, part of CommonSpirit Health (BBB+ / stable). The building is occupied by high value medical specialists that see patients in the building’s 30 exam rooms. 

Investment Highlights

  • 100% leased to market leading MercyOne Centerville Hospital
  • Corporate guaranty by Catholic Health Initiatives, Iowa; part of CommonSpirit Health
  • Absolute, long-term net lease
  • Fixed rental escalations every two years
  • No landlord capital obligations
  • Available free and clear of mortgage debt
  • Strategically located on the MercyOne Centerville Hospital campus; connected via interior walkway
  • Centerville is 90 miles southeast of Des Moines and is the largest city in Appanoose County
  • Large senior population - 39.2% of the residents are 55 and older in Appanoose County
  • Favorable average household income of $56,863 in Appanoose County
Steve Leathers
EVP, Capital Markets
CJ Kodani
VP, Capital Markets

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