703 Main StBridgeport, OH 43912

Property Details for 703 Main St

Year built

2018

Lot size

3.86 AC

Property size (Sq ft)

6,780 SF

Property type

Healthcare properties

Property subtype

Medical offices

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,289,401

  6.5%

  $1,190,216

  7%

  $1,105,201

• Comparable approach

  Method

  Valuation

  Relative Method

  $634,201

  Geo Method

  $634,201

• Alternative Use

  Use

  Valuation

  Residential

  $1,475,868

  Hospitality

  $1,351,887

  Educational

  $1,124,754

  Medical

  $1,163,436

  Retail

  $1,749,618

Location Insight

City

Bridgeport

County

Belmont

State

Ohio

Latitude

40.0705

Longitude

-80.7526

CBSA code

48540

CBSA name

WHEELING, WV-OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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