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104 Ashland Ave, Mt. Zion, IL, 62549

Decatur Orthopedic Center & Memorial Health

$17,526,102

Key Information

Cap Rate
6.5%
$ per SF
$388
Tot. SF
45,132
Lot Size
4.9 Acres
Year Built
2013, 2021, 2023
Term Remaining
±11.6
Type
Healthcare
Occupancy
100%
NOI
$1,139,197

Highlights

  • Long-Term NNN Leases, Annual Rent Growth
    At closing, DOC will execute new 15-year, NNN leases on its clinical and physical therapy spaces, while Memorial Health occupies the imaging center under a long-term NNN lease. Scheduled rent increases provide built-in income growth with minimal landlord responsibilities.
  • State-of-the-Art, Comprehensive Orthopedic Campus
    DOC’s specialized campus integrates orthopedic care, physical therapy, advanced athletic performance and diagnostic imaging in one location, allowing patients to access comprehensive treatment and diagnostic services onsite.
  • Institutional Healthcare Partnership & Advanced Imaging
    Memorial Health (‘A+’ S&P Global Credit Rating) operates a comprehensive imaging center onsite, offering MRI, CT, ultrasound, bone density and DEXA capabilities, including a 3-Tesla MRI. The partnership expands the continuum of care while diversifying income with tenancy from a major regional health system.
  • Proven Regional Draw & Destination Orthopedic Care
    DOC’s specialized capabilities draw patients from well beyond the Decatur market, including patients traveling approximately two hours for treatment. Its integrated orthopedic, imaging, physical therapy and athletic performance services have established DOC as a destination provider.
  • Continued Expansion & Long-Term Campus Commitment
    DOC continues to expand its Mt. Zion medical campus, receiving CON approval in September 2025 and breaking ground in summer 2026 on a new ambulatory surgery center directly across the street. The ASC will complement and expand DOC’s existing services.
  • Limited Supply of Comparable Orthopedic Facilities
    DOC offers a level of integrated orthopedic care unmatched within approximately 150 miles, combining orthopedic care, advanced imaging, physical therapy and athletic performance services under one roof.
  • Established Industrial & Healthcare Hub
    Decatur is a major Central Illinois employment, manufacturing and healthcare hub supported by significant ongoing investment. Its concentration of industrial, manufacturing and agricultural employment also supports underlying demand for orthopedic and rehabilitation services.

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Agents

Broker of Record

Matthew Fitzgerald

License # 471021676, 478027547 (IL)
Matthews Real Estate Investment Services, Inc
600 W Fulton, Ste 100 Chicago, IL 60661