4506 Kostoryz Rd Corpus Christi, TX 78415

Property Details for 4506 Kostoryz Rd

Lot size

8.57 lot acres

Property type

Day care centers

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a portfolio of eight strategically located dental and orthodontic facilities across Texas and New Mexico. The portfolio totals 68,286 net rentable square feet situated on 8.57 acres of land. Currently 100% occupied, the properties are under a master lease with a corporate guarantee, providing significant financial security. The absolute NNN lease structure ensures minimal landlord responsibilities, with a remaining term of 10.4 years and four, five-year renewal options. Annual rent bumps of 2% further enhance long-term returns. The portfolio boasts a strong NOI of $1,380,370 and an asking price of $19,719,574, representing an attractive price per square foot of $309. The properties are primarily located in Texas markets with populations exceeding 100,000, some even surpassing 300,000, ensuring a substantial patient base. The portfolio benefits from the advantages of a tax-free state, enhancing overall profitability. The resilient nature of the healthcare industry, coupled with the high build-out costs and low relocation rates of dental practices, contributes to the portfolio's long-term stability and predictable income stream. The portfolio's strong financials, including a robust rent coverage ratio, and the long-term lease structure make this a compelling investment opportunity in a growing sector.