700 Thurston St Defiance, OH 43512-2753

This 2,874 square foot medical office building in Defiance, Ohio, presents a compelling investment opportunity. Located at 700 Thurston St, 43512, this single-tenant property boasts a 100% occupancy rate with Smile Doctors, a prominent national dental support organization with over 450 locations. The current lease, commencing April 21, 2023, and expiring April 21, 2028, includes two five-year renewal options and features a 2% annual rent increase, providing strong protection against inflation. The building, constructed in 1967, sits on a 0.17-acre lot and offers a Net Operating Income (NOI) of $50,184, translating to a 9.50% capitalization rate. The asking price is $528,253, representing a price per square foot of $184. Smile Doctors' significant investment in the location, coupled with their established business model and national presence, underscores the stability and long-term potential of this asset. The property's attractive price point and high return make it an ideal investment with a low barrier to entry. This is a rare opportunity to acquire a high-performing medical office building with a best-in-class tenant and significant upside potential. The tenant's commitment is further evidenced by their recent lease execution in 2023. This investment offers a streamlined expansion opportunity due to Smile Doctors' acquisition-based growth strategy. The consistent annual rent increases provide a predictable and growing cash flow stream for the investor.