500 Keene StColumbia, MO 65201

For Sale
$4,350,000

High-yield, 12,600 SF medical office investment

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents four medical office suites totaling 12,600 square feet, located on the entire third floor of a Class A, four-story office building in Columbia, Missouri. The property boasts a strong 8.36% cap rate and a Net Lease structure with a credit-rated tenant, the University of Missouri Hospital Systems. The tenant recently extended their lease, securing a five-year term on three of the four suites and a three-year term on the remaining suite. The State of Missouri provides financial support for the tenant's operations and capital improvements, acting as a corporate lessee. The building features 294 parking spaces and is situated within a larger medical office complex in a thriving location. Columbia, Missouri, is the fourth largest city in the state, known for its strong economy, highly educated population, and robust healthcare sector. The property benefits from a 100% occupancy rate and a substantial Net Operating Income (NOI) of $363,694. The tenant is responsible for all operating expenses, including property taxes, insurance, utilities, and interior maintenance. This is a rare opportunity to acquire a stable, high-performing medical office investment in a desirable location with a long-term lease in place. The University of Missouri completely remodeled the suites at their own expense. The building sits on a 4.37-acre lot.

Highlights

  • Four medical office suites leased to University of Missouri Hospital Health Systems.
  • 12,600 square feet of available Class A office space on the third floor of an 80,000 square foot building on a 4.37-acre lot.
  • Three suites have a new 5-year lease extension; one suite has a 3-year extension.
  • Tenant pays NNN (Net, Net, Net) rent, covering all operating expenses.
  • University of Missouri occupies multiple floors, including the entire recently remodeled third floor.

Property Details for 500 Keene St

Property type
Other office properties, Medical offices
Square Feet
12,600 SF
Units
4

Location Insight

City
Columbia
County
Boone
State
Missouri
Latitude
38.9581191
Longitude
-92.2876423
500 Keene St, Columbia, Missouri

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500 Keene St
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