1313 Hobart St Pampa, TX 79065-4121

Property Details for 1313 Hobart St

Year built

1957

Lot size

0.42 lot acres

Property size

16,382 SF

Property type

Commercial real estate

APN

9223372036854775807

APU

9223372036854775807

Description

This exceptional investment opportunity presents a 5,420-square-foot medical office building in Pampa, Texas, fully occupied by AccentCare, Inc., a nationally recognized leader in healthcare services. The property, located at 1313 N Hobart St, boasts a strong, credit-rated corporate guarantee, ensuring consistent income. AccentCare has operated at this location since 2012 and recently renewed their lease, extending its term through July 31, 2029, with approximately 4.7 years remaining. The lease includes annual rent escalations of 1.5%, providing built-in growth potential. Furthermore, a five-year lease option with continued 1.5% annual escalations is included. The property is a Net Lease (NN+) structure, minimizing landlord responsibilities, with tenant responsibility for all expenses except for major structural repairs (roof, HVAC, sewage) exceeding 75% of replacement cost. The building sits on a 0.42-acre lot and offers a compelling cap rate of 8.50% with a current NOI of $73,848 and an asking price of $868,800 ($160.30/sq ft). The property benefits from its location on a major Pampa thoroughfare, experiencing high daily traffic volume. Texas offers the added benefit of zero income tax and real estate transfer tax. This is a rare opportunity to acquire a stable, high-performing medical office building with a long-term tenant and significant upside potential. The APN is 110306950040030000000.