9097 Collinsville Rd, Collinsville, MS 39325-9779

Property Details for 9097 Collinsville Rd

Year built

1996

Property type

Medical Office Space

Property subtype

Medical centers

APN

168340000000000805

APU

168340000000000805

Description

This exceptional investment opportunity presents two established medical office buildings totaling 8,150 net rentable square feet, situated on Collinsville Road in Collinsville, Mississippi (zip code 39325). The property, encompassing two single-story buildings, benefits from a 100% occupancy rate with a strong tenant history exceeding 20 years. The property features a modified gross lease with Ochsner Rush Medical Clinic and a net lease with Ochsner Rush Senior Care. The Ochsner Rush Medical Clinic lease includes a rent bump provision. The Ochsner Rush Senior Care lease is a triple-net (NNN) lease, with landlord responsibilities limited to real estate taxes, fire insurance, and roof structure. The buildings underwent renovations in 2021, including interior and exterior painting. The medical clinic building also received a new roof and AC unit in 2019. The property boasts a compelling 8.50% cap rate, with a current net operating income (NOI) of $87,500. The asking price is $1,029,000. The lease term for the medical clinic extends to March 1, 2031 (approximately 6.3 years remaining). This strategically located property is the only clinic between Meridian and Philadelphia, MS, serving an affluent area with an average household income exceeding $82,500 annually within a one-mile radius. The Ochsner Rush Medical Clinic provides a comprehensive range of services, including on-site lab and X-ray services. This is a package deal offering two separate, high-performing medical office buildings.

Location Insight

City

Collinsville

County

Lauderdale

State

Mississippi

Longitude

-88.8474

Latitude

32.4967

CBSA code

32940

CBSA name

MERIDIAN, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments