Anne Arundel Dermatology

Healthcare real estate – Medical outpatient buildings have a history of providing landlord-friendly tenants. Favorable terms include higher average rental rates, long-term tenancy, economic resiliency, and an improved property image.
Value-add opportunity – With a 14% vacancy, this asset provides a value-add opportunity, allowing an investor to add an additional tenant to the rent roll, increasing the cash flow for an even more favorable return.
Growing rents -Both tenants provide a 3% annual rental increase, creating a hedge against inflation and ensuring a continuous growth of your investment dollars.
Ideal medical location – Various hospitals are within ±1.5 miles of this location, creating an ideal position for healthcare tenants due to the location familiarity and potential referral network with the hospitals.
Retail centric – The retail presence surrounding this asset is plentiful, including the 930,000 SF mall, various strip and neighborhood centers, and national retail tenants. Costco, Target, Chick-fil-A, Wells Fargo, and Starbucks are a few examples.
Affluent market – The average household income is over $82,105 within a 5-mile radius from this property. This demographic aligns perfectly with the dermatology services provided at this location.
Ideal market fundamentals – Central Norfolk displays strong market fundamentals including a shrinking vacancy rate, growing average rental rates, and continuous new construction.
Regional operator – Anne Arundel Dermatology has over 100 locations across 7 states and continues to grow. The proven track record provides confidence that this tenant will maintain a successful operation.
Growing industry -The global dermatology market is expected to be valued at $1.7B in 2024 and reach $3.59B by 2034, a 7.03% CAGR. North America contributed more than 35% of that revenue in 2023.

Navigation Menu

Key Information

Highlights

Photos

Location

Agents

Broker of Record

Kyle Matthews