Lufkin: Cape Rate 5,50 % - Veterans Affair Outpatient Clinic

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GIRE is pleased to offer for sale to qualified investors a medical office facility leased to the Department of Veterans Affairs centrally located in Lufkin, Texas.

The property is 100% leased to the Department of Veterans Affairs with Fourteen (14) years remaining on a Twenty (20) year lease.

Lufkin is a city in Angelina County, Texas. Founded in 1882, it is the county seat of Angelina County and is situated in Texas Forest Country, centered between Dallas, Houston and Shreveport, Louisiana.

Lufkin is a progressive, proactive and pro-business community and the largest city in central East Texas with a population approaching 40,000. Lufkin' s regional hub status brings the daytime population to more than 100,000.

Within an estimated 90 mile radius, Lufkin provides healthcare, retail, restaurant, lodging and entertainment services as well as employment opportunities for the surrounding population

Price:$10,227,000
Property Type:Health Care
Property Sub-type:Acute Care Hospital
Property Use Type:Net Lease Investment with10+ years left on lease
Cap Rate:5.50%
Year Built:2009

Highlights

Long-Term Lease - Fourteen (14) years remaining on a Twenty (20) year Government backed lease with no termination optionModified Gross Lease - Tenant is Responsible for All Utilities, Janitorial, and Waste RemovalLimited Competition - Subject Property serves as a regional outpatient clinic in Eastern Texas and is the only VA clinic in a 55 mile radiusSurrounding Customer Base - Approximately 25% of the nation' s population is potentially eligible for VA benefits and servicesCentralized Location - The clinic is in a great location with close proximity to Loop 287, which will provide greater access to outpatient servicesStrong Tenant - Guaranteed by the United States of America, General Services Administration (GSA