VA Outpatient Clinic (Zero Cash Flow)

3284 S Val Vista Road - Gilbert AZ 85295

LTV (Loan to Value)	65.00%	Current NOI	$1,672,239.00
Interest Rate	4.250%	Capital Rate	0.000%
Fixed Term	10 Years	Land Area	9.70 Acres
Amortization	25 Years	Lease Type	Modified Gross
Loan Amount	$22,100,000.00	Property Type	Medical
Payment	$119,724.12	Property Lease	Medical Office
Bulding Size	71,259 SF	Remaining Terms	19.25 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors a newly constructed medical office facility leased to the Department of Veterans Affairs located in Gilbert (Phoenix MSA), Arizona.The property is 100% leased to the Department of Veterans Affairs with a new Twenty (20) year lease that commenced in February 2014. The property is located in close proximity to the Santan Freeway and is the largest Veterans Affairs clinic in the southwest network, covering Arizona, New Mexico, western Texas, and parts of Oklahoma. The site serves veterans in primary care and specialty treatments including mental health, dermatology, gastroenterology, dentistry, and radiology.

Highlights

Twenty (20) year firm lease term with no termination optionsProperty is 100% leased to the Department of Veterans Affairs and…

Property Description

Gilbert is a town in Maricopa County, Arizona, located southeast of Phoenix, within the Phoenix metropolitan area. Gilbert’s current population of 217,000 has doubled every five years since 1980. Build out is anticipated in 2030 with a population of 305,000. Gilbert boasts one of the highest median incomes in the state of Arizona at $76,574 and a population of three persons per household. Gilbert is served by two area freeways, the Santan Freeway portion of Loop 202 and US-60. Several major arterials also serve the area, including Williams Field Road, Chandler Boulevard, and Gilbert Road. The town enjoys relative closeness to Phoenix Mesa Gateway Airport, which is located in east Mesa; and is about twenty miles from Phoenix Sky Harbor International Airport.Gilbert has an existing development portfolio of 6.8 million SF of industrial and 3.5 million SF of office space. Ground-up development opportunities also exist with a land inventory of 590 acres of available industrial-zoned property and just over 1,000 acres of available office and business park-zoned property. Gilbert offers immediate access to a workforce of one million individuals within a 30-minute commute.Gilbert is home to over 2 million SF of state-of-the-art hospital and clinical research facilities including: Banner M.D. Anderson Cancer Center, the Ironwood Cancer Research Center, Mercy Gilbert Medical Center, Banner Gateway Medical Center, and Gilbert Hospital. The town is also home to numerous tech companies and highly respected businesses, including Lockheed Martin, Orbital Sciences, General Dynamics, Celebration Stem Cell Center, GoDaddy, Heliae, and Mapfre.