9951 Fannin St, Houston, TX 77045

20,600 SF Health Care Building Offered For Sale in Houston, TX 77045

Property Type
Health Care
Square Feet
20,600 SF

Listing Contacts

Rick Goings
CJ Kodani
Ryan Olive
Matthew Sykes

Property Overview

OFFERS DUE WEDNESDAY, JULY 24 2024
Jones Lang LaSalle (“JLL”), as exclusive advisor, is pleased to present for sale the 100 percent fee simple interest in a 20,600-square-foot post-acute care neuro-rehabilitation facility (the “Property”) in Houston, Texas. The Property is leased to Mentis Houston LLP dba NeuroRestorative (“Tenant”) through May 1, 2029 on an absolute net basis. The investment offers a bond-like, inflation-hedged cash flow for the next 5 years with annual rent escalations of 2.5 percent. In year one of the investor’s holding period, the net operating income is $944,829 (based on a September 1, 2024 closing date). Uniquely positioned for long-term sustainable growth, NeuroRestorative, the operator, is a market leader in post-acute rehabilitation services for acquired brain injuries and has 116 locations across 25 states.

Property Details

Year Built
2008
Stories
1
Property Subtype
Rehabilitation Center, Skilled Nursing Facility
Lot Size (sq. ft)
118,919 SF
Units
24

Highlights

  • Offers Due Wednesday, July 24, 2024
  • 36% population growth projected withing a 1-mile radius
  • 4.9 years of lease term remaining
  • 3.5 miles from the largest Medical Center in the world
  • 8 million patient encounters per year at The Texas Medical Center
  • Absolute Net Lease tenant

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