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9951 Fannin St - NeuroRestorative Houston

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

Investment Highlights

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

Executive Summary

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 Facts Under Contract

Sale Type Investment
Property Type Health Care
Property Subtype
Rehabilitation Centre
  • Healthcare Skilled Nursing Facility
Lot Size 2.73 AC
Building Size 20,600 SF
No. Beds 24
No. Stories 1
Year Built 2008
Parking Ratio 3.05/1,000 SF

Amenities

  • Wheelchair Accessible
  • Listing ID: 32112135

  • Date on Market: 2024-06-12

  • Last Updated:

  • Address: 9951 Fannin St, Houston, TX 77045

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