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Middle Creek Medical Arts Building

$ 2,760,000

Property Type:

Medical Office Building

Property Size:

14,135 SF

Lease Type:

NNN

Cap Rate:

7.5 %

Details

15 Year NNN Lease with 3% Annual Rent Increases

  • Medical Office Building leased to two medical tenants, Summit Medical Group and English Mountain Recovery.
  • Summit Medical Group is East Tennessee’s largest primary care organization, with more than 375 providers at 82 locations across 15 counties.
  • Summit Medical Group signed a new 15 year NNN lease with 3% annual rent increases.
  • Summit Medical Group’s space underwent a $600K renovation in 2023.
  • English Mountain Recovery (acquired by Summit BHC – a national medical tenant), is a addiction treatment center that offers world class care.
  • The Medical Office Building is located across the street from LeConte Medical Center, and next to VA Medical Center, Sevier County Health Department and Burchfiel Medical Professional Building.
  • A major tourist destination (9 million annual visitors) serving as the gateway to the Great Smokey Mountains National Park.
  • The building was originally planned as a medical office condo development and the suites are individually deeded.

Contact:

khaterine@biltrealtygroup.com

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