carenow grapevine 9.2.14 - National Realty Partners

FOR SALE
CARENOW
$2,100,000
2355 E. GRAPEVINE MILLS CIRCLE
GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
Property:
Tenant:
Lease:
Loca on:
CareNow Medical Facility, approximate 3,855 SF medical building. Masonry construc on.
CareNow operates 24 Medical Facili es in the DFW area
Approximately 4 years remaining on 5-year renewal lease (same tenant since 1998), NNN lease
CareNow is located along E. Grapevine Mills Circle, with direct frontage on the TX-121 service
road. The site is directly in front of the Grapevine Mills Mall and adjacent to Bass Pro Shop.
Na onal-credit tenants in the surrounding area include FedEx, Hya , Hilton, Embassy Suites,
Comfort Suites, Starbucks, Chick-fil-A, Hampton Inn, LA Fitness, Whataburger, and Golden Corral
INVESTMENT HIGHLIGHTS
CARENOW- $2,100,000
GRAPEVINE, TX

15-Year original lease term commenced
September 1, 1998. There are now 4 Years
remaining on the 5 Year renewal, plus
One (1), Five (5) Year Renewal Op on at
prevailing market rate.

Lease Commencement: September 1,
1998

Outstanding location in a high-growth,
affluent area

Profitable Urgent Care provider with
24 facilities throughout the DFW
Metroplex.

Good quality masonry construction –
building completed in 1998.
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
LOCATION MAP
CARENOW
GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
LOCATION MAP
CARENOW
GRAPEVINE, TX
AERIAL MAP
CARENOW
GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
AERIAL MAP
CARENOW
GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
LEASE ABSTRACT
CARENOW
GRAPEVINE, TX
Tenant:
Primary Health Inc., a Texas Corporation d/b/a CareNow
Completion :
September 1, 2018
Term:
15-Year original lease term commenced Sept 1998. 4 Years remaining on a 5-Year
renewal, plus One (1), Five (5) Year Renewal Op ons at prevailing market rate
Lease
Commencement:
September 1, 1998
Building Size:
Approximately 3,855 (100% leased to a single tenant)
Land Size:
23,598 SF or 0.5417 acres
Rental Rate:
Current through 8/30/18
Rent/ Month
$13,450
Rent/ Annum
$161,400
One, 5-year option at market rental rate.
NNN Expenses:
Tenant is responsible for all expenses arising from the use or operation of the
property including taxes, insurance, utilities, and common area maintenance,
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
YIELD ANALYSIS
CARENOW
GRAPEVINE, TX
Price: $2,100,000 – All Cash
Annual Rental Income :
$161,400
Less:
Structural Reserve @ $0.15/SF:
(600)
Management @ $100/month:
(1,200)
Net Opera ng Income:
Capitaliza on Rate:
Sales Price/SF @ 3,855 SF
Willard H. (Bill) Langhenry, MAI
214-692-6920, Ext. 1
214-893-5331 Cell
[email protected]
$159,600
7.60%
$544.75
(3,855 SF @ $41.56/SF)
TENANT DESCRIPTION
CARENOW
GRAPEVINE, TX

CareNow medical centers provide convenient medical care to families in the Dallas/Fort Worth area. Qualified
physicians treat a range of Primary Care, Urgent Care and Occupa onal Medicine needs. Most insurance is accepted.
No appointment is needed and pa ents can check-in online.

The doctors at CareNow are ready to meet all of a family’s general Primary Care medical needs, from sniffles to school
physicals and beyond. They offer hours, loca ons and services that make them more convenient than an ordinary
doctor’s office

CareNow offers a full range of Physical Therapy services at four loca ons in the Metroplex. Experienced Physical
Therapists guide pa ents through individualized treatment programs, designed to involve pa ents in their recovery
and teach them about proper body mechanics at therapy facili es.

CareNow offers a comprehensive range of occupa onal medicine services (OccMed services) as an occupa onal health
center to keep employees healthy and working safely. Their physicians emphasize a back-to-work mentality as they
treat your employees. They also work directly with pa ents to provide clear answers about the health of their people
using a number of detailed management reports.

CareNow can set up an occupa onal medicine plan customized to corporate needs using a computerized Preference
Card. You simply fill out your preferences for OccMed protocol, and that informa on is put into prac ce by adding it to
an employees’ charts.

When people can’t wait to get well, they go to CareNow. They avoid the long waits and other difficul es and high cost
of going to a hospital emergency room for many Urgent Medical Care issues. Every CareNow center offers expert
suture care for cuts, has complete x-ray facili es for sprains and breaks, and is typically open un l 10pm on weekdays,
8pm on Saturday and 5pm on Sunday.
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
24 LOCATIONS IN THE DFW METROPLEX
CARENOW
GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
SURVEY
CARENOW
GRAPEVINE, TX
Willard H. (Bill) Langhenry, MAI
214-692-6920 Ext. 1
214-893-5331 cell
[email protected]
SITE PLAN
CARENOW
GRAPEVINE, TX
ADDITIONAL PHOTOGRAPHS– SURROUNDING RETAIL
CARENOW
GRAPEVINE, TX
ADDITIONAL PHOTOGRAPHS– CARENOW FACILITY
CARENOW
GRAPEVINE, TX
FLOOR PLAN
CARENOW
GRAPEVINE, TX
INFORMATION ABOUT BROKERAGE SERVICES
CARENOW
GRAPEVINE, TX