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# of Properties
2
Expense Structure
Absolute NNN
Property Use
Internal Medicine
Rent Increases
2.50% Annually
Proposed Lease Term
12 Years
INVESTMENT HIGHLIGHTS
ABSOLUTE NNN LEASE W/ RENTAL ESCALATIONS Northeast Internal Medicine Associates (NIMA) will commence a twelve (12) year lease upon closing. The lease is absolute NNN, with zero Landlord responsibilities whatsoever, providing investors with a truly passive asset. Additionally, the lease includes 2.50% annual rental escalations as well as two (2), five (5) year renewal options.
CLOSE PROXIMITY TO HOSPITAL AND MEDICAL CORRIDOR The Kendallville Property is conveniently located around the corner from the Parkview Noble Hospital which is the larger of only two hospitals in Noble County, IN. Other healthcare practices have also established themselves near the 31-bed hospital creating an advantageous medical synergy. The LaGrange Property also benefits from being in the midst of the healthcare corridor in town with the LaGrange Surgery Center being conveniently adjacent to the Property.
CREDIBLE, ESTABLISHED OPERATOR Northeast Internal Medicine Associates (NIMA) provides comprehensive state-of-the-art treatment, a full range of diagnostic testing, and an unparalleled commitment to service. The have a strong presence in rural northeast Indiana with a location in Kendallville and LaGrange.
HIGH MEDICAL EXPENSES COMMUNITIES Within 10 miles of the Kendallville and LaGrange Properties, annual medical expenses were $24.4 million and $22.5 million respectively. Average annual medical expenses by household were $1,700 for Kendallville and $1,644 for LaGrange. In comparison, Indianapolis and Fort Wayne average annual medical expenses by household were $2,663 and $2,388 respectively.
VISIBILITY & TRAFFIC COUNTS Both Properties benefit from being located just off major rural roads. The Kendallville Property is located off West North Street which sees 15,142 vehicles per day and the LaGrange Property is located off N Detroit St which sees 7,930 vehicles per day.
