Buckeye PACE

Youngstown | Ohio

Offering Summary

  • Status: just listed
  • Price: $2,841,000
  • Cap Rate: 7.25%
  • GLA: 11,356 SF
  • Price/SF: $206,000
  • Year(s) Built: 1996
  • Year(s) Renovated: 2005
  • Lot Size (Acres): 1.364 Acres
  • Lease Type: Absolute NNN
  • Buckeye PACE New 15-Year Abs NNN Lease in Youngstown, OH
  • Essential Medical Business – Federally & State-Funded (Medicare & Medicaid) PACE Program (Program for All-Inclusive Senior Care)
  • Tenant Invested Nearly $2 Million of their Own Funds to Retrofit Former Rite Aid and Build-Out Senior Care Facility
  • Zero Landlord Responsibilities – Tenant Self-Maintains CAM & Insurance and Fully Reimburses RE Taxes; Tenant Responsible for All  CapEx
  • 10% Increases Every 5 Years During Initial Term and Three, 5-Yr Options – +73 bps to CAP in 2030 and +79 bps to CAP in 2035
  • All-Inclusive Facility Providing Primary & Specialty Physician Services, Family & Caregiver Support, Nutritional Counseling, Family-
  • Style Meals, Therapy & Exercise, Home Care, Transportation, and More
  • PACE is an Established & Successful Managed Care Model; Currently 185 PACE Providers Across 33 States Operating Over 300 PACE Centers that Serve 83,000 Seniors
    • PACE First Established in the 1970’s; Substantial New Federal Legislation Passed in 2015 & 2019 to Further Expand and Regulate PACE Programs
  • Zero Direct Competition – Opening of New PACE Programs/Facilities is Controlled by both Federal & State Government Agencies and Operation of PACE Programs & Facilities is Highly Regulated
    • Ohio has Approved Only One PACE Provider to Operate in Each of the 10 Counties where PACE Programs are Currently Approved
  • Carries Corporate Guaranty from One Senior Care Inc. – Operator of 3 PACE Programs in OH, PA, KY & VA
    • Total of 18 PACE Facilities Open Across 3 PACE Programs; Leading PACE Provider to Rural & Appalachian Communities
  • One Senior Care Inc. is Wholly-Owned by FFL Partners since 2021 (Healthcare & Tech-Focused PE Firm); FFL has Invested Over $6B of Committed Capital Across 50+ Portfolio Companies Since 1997
  • 11,356 SF Building on 1.36-Acre Hard-Corner Site with 21,987 VPD
  • Dense, Infill Demographics with 11,740/1-Mi, 66,500/3-Mi & 153,500/5-Mi Population Counts
  • Regional-Draw – Only PACE Facility Serving Eligible Mahoning County 55+ Seniors (228,000 Population)
  • Youngstown MSA – Home to a Population of 430,000; Major Employers Include Mercy Health, InfoCision, Southwoods Health, Steward ValleyCare Health System, VXI Global Solutions, Windsor House Assisted Living, U.S. Air Force, and More
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director