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103 Worcester St, North Grafton, MA, 1536

Multi-tenant Medical Office
Closed

Key Information

Type
Healthcare

Highlights

RECESSION RESISTANT ASSET CLASS

  • Healthcare properties are sought after for their resistance to recessions, e-commerce, pandemics and are rarely offered as a completely hands-off investment.

RENTAL INCREASES

  • All three leases are subject to rental increases throughout the Base Term and remaining Option Terms. A future landlord will benefit with a boost in cashflow and return on their investment, along with a protection against inflation.

WELL-POSITIONED ASSET

  • Located along high-trafficked Worcester St which sees over (±17,000 VPD), the highly visible property sits directly across from a busy Stop & Shop grocery anchored shopping center with national tenants that include: CVS Pharmacy, Anytime Fitness, Supercuts and more.

GUARANTEED LEASES

  • All leases are subject to corporate or personal guarantees for the Base and Option Terms.

AFFLUENT DEMOGRAPHICS

  • The asset is located in a dense, affluent market with a 5-mile population exceeding 105,000 people with income levels exceeding $127,000.

STICKY INVESTMENT

  • Dental support organizations rarely relocate due to high build-out costs of and difficulty in retaining the same patients after moving.

TENANT INVESTMENT IN LOCATION

  • The landlord provided shell spaces to the tenants upon execution of their leases, all three tenants made sizable investments into their buildouts.

MULTI-LOCATION OPERATORS

  • The dental practice is occupied by Denta356 on a corporately guaranteed lease. Dental365 is one of the largest DSO’s in the Northeast with over 100+ locations. Simply Orthodontics (Simply Dental Management), founded by Dr. Sam Alkhoury in 2005, has grown to over 40 locations in the New England area.

PROMINENT ACCESS TO MAJOR COMMUTER ROUTES & TRAIN STATION

  • The subject property is located roughly 40 miles outside of Boston and just off the Massachusetts Turnpike that sees over 98,000 VPD. The assets also sits less than 3 miles from Grafton Train Station which sees over 10,000 riders per day on the MBTA Commuter Rail, providing pubic transportation from Worcester Union Station to South Station (Boston).

Photos

Location

Agents

Financing Agents

Broker of Record

Kyle Matthews

License # 1000083-RE-RB (MA)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203