3493 S MERCY Road #BLDG 15, Gilbert, Arizona
3493 S MERCY Road #BLDG 15, Gilbert, Arizona 85297 - Leased to Banner Medical Group for their Banner Children's Health Clinic, this 5-year lease commenced September 1, 2016 with a starting rental rate of $19.50 NNN and annual 3% increases. The lease is a NNN lease and all operating expenses are pass-through to the Tenant. Banner has the right to early terminate the Lease at any time after the 36th month. This termination right shall be subject to Tenant providing Landlord with six months' prior written notice. In the event Tenant exercises its right to early terminate, Tenant shall pay a termination penalty equal to 6 months' Rent at the rate in effect at the time of termination.5.8% Cap Rate.
Listing Courtesy of Avison Young