703 Main St Bridgeport, OH 43912-1315

Property Details for 703 Main St

Year built

2018

Lot size

3.86 lot acres

Property size

6,780 SF

Property type

Medical offices

Property subtype

Medical centers

APN

22-00703-000

APU

2200703000

Description

This exceptional investment opportunity presents a fee-simple, 6,740 square foot medical office building in Bridgeport, Ohio, fully occupied by DaVita under a triple-net (NNN) lease. The property, built in 2019 on a 3.86-acre lot, boasts a 15-year lease (with three 5-year options) commencing April 26, 2019, and expiring April 30, 2034, leaving approximately 9.4 years remaining. The lease includes a corporate guarantee from DaVita, Inc., a leading global provider of dialysis services, and features a 10% rent increase every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $174,229, representing a 6.00% cap rate on the asking price of $2,903,817. Strategically located at a signalized intersection on Main Street (Route 40), near the I-70 on-ramp, this property benefits from excellent visibility and accessibility. Its proximity to major hospitals, including East Ohio Regional Hospital and WVU Medicine Wheeling Hospital, further enhances its value and appeal. The strong demographics of the area, with an average household income of approximately $70,000 and a significant senior population, support the continued demand for healthcare services. This investment offers a compelling combination of long-term stability, predictable income growth, and a strong tenant in a recession-resistant industry. The global dialysis market's projected growth further underscores the long-term potential of this asset.

Location Insight

City

Bridgeport

County

Belmont

State

Ohio

Longitude

-80.7526

Latitude

40.0705

CBSA code

48540

CBSA name

WHEELING, WV-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments