Three-Property Rehabilitation Center
For Sale
Contact for pricing
Pending
6132 NE 12th Ave, Pleasant Hill, IA 50327
Behavioral health facilities leased on an absolute NNN structure with long-term contractual rent growth.
Property SizeContact for details
Days on Market141
Property Features for 6132 NE 12th Ave
General Information
Standard status
Pending
Property subtype
Retail, Office
Additional Details
Cap Rate
8.5%
Building Details
Buildings
3
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Kyle Mackulak · License #CA 02055597
Source:
Crexi
Added: Apr 12
Changed: Aug 29
Last Checked: Aug 29 at 10:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This three-property portfolio comprises inpatient behavioral health facilities focused on alcohol and drug addiction rehabilitation. The assets are located in Iowa and Indiana, with two Iowa facilities operating under the ThriveNow brand and the Indiana location using the Indiana Treatment Center name. Pleasant Hill opened in December 2024, while Iowa City is preparing for its opening and Mishawaka is expected to begin operations in the coming months.
Nelson Construction and Development will operate the facilities, with Ascension Recovery Services responsible for day-to-day management. Ascension has developed and managed behavioral health systems across more than 35 states and has launched 75 programs. Each property is supported by an absolute NNN lease featuring a 15-year term and 3% annual rent increases. The portfolio is offered at an 8.50 cap rate, and plans call for six additional facilities to become operational by next year.
Nelson Construction and Development will operate the facilities, with Ascension Recovery Services responsible for day-to-day management. Ascension has developed and managed behavioral health systems across more than 35 states and has launched 75 programs. Each property is supported by an absolute NNN lease featuring a 15-year term and 3% annual rent increases. The portfolio is offered at an 8.50 cap rate, and plans call for six additional facilities to become operational by next year.
Key Highlights
- Three inpatient behavioral health facilities across Iowa and Indiana
- Focused on alcohol and drug addiction rehabilitation services
- Absolute NNN leases with 15‑year terms and 3% annual rent increases
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 50327, IA
11,807
Population
5,077
Households
2.3
Avg Household Size
41
Median Age
32%
College-Educated
97%
High-School Grad
15.8 sq mi
ZIP Area
747
Density / Sq Mi
$90,759
Median Household Income
$46,177
Median Earnings
$1,219
Median Rent
$303,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Behavioral health facilities leased on an absolute NNN structure with long-term contractual rent growth.
Where is this rehabilitation center located?
The property is located at 6132 NE 12th Ave Pleasant Hill, IA.
What are key features of this property?
This property features: Three inpatient behavioral health facilities across Iowa and Indiana; Focused on alcohol and drug addiction rehabilitation services; Absolute NNN leases with 15‑year terms and 3% annual rent increases
