“GAME-CHANGER FOR THE COMMUNITY”

Charlestown’s healthcare landscape was dramatically impacted when the community’s local hospital closed abruptly. Now, the city eagerly prepares for a major boost to its healthcare infrastructure with the reopening of North Clark Community Hospital. Underscoring the importance of renewed access to emergency care, Mayor Bob Hall hailed the project as “a game-changer for the community.”

STUDS-OUT RENOVATION

Through a mission-driven renovation and modernization process, the site is being transformed into North Clark Community Hospital, a state-of-the-art medical campus set for completion in early fall 2026. Purpose-built for hospital operations, the facility will restore essential healthcare services while offering minimal near-term capital expenditure requirements and long-term durability.

LONG-TERM, ABSOLUTE NNN LEASE

The hospital operates under a 15-Year Absolute NNN lease with zero landlord responsibilities, providing truly passive ownership. Complementing the long-term nature of this lease, a single 15-year renewal option extends potential occupancy to   30 years.

STEADY INCOME GROWTH WITH ANNUAL INCREASES

Built-in 2% rent escalations throughout the term and option period provide a reliable hedge against inflation and ensure predictable, growing cash flow over the life of the lease.

MISSION-CRITICAL HEALTHCARE FACILITY

With no local hospital competition and the nearest inpatient facility nearly a half-hour drive from the property, North Clark Community Hospital will serve as the community’s sole provider of critical medical services. The highly specialized, capital-intensive buildout creates strong tenant stickiness, while healthcare real estate has consistently proven to be a resilient asset class, offering investors stable demand and long-term security across all economic cycles.

CONTRIBUTING TO ONGOING MARKET GROWTH

City leaders emphasize that the hospital will not only provide essential healthcare access, but also serve as a driver of economic development. “We’re excited about seeing them do it right and investing to bring it into service again,” said Mayor Bob Hall. Officials also note that the hospital’s return will create new opportunities for local businesses, from restaurants to retail, by bringing more people into Charlestown.

STRONG REGIONAL ACCESS AND VISIBILITY

Situated on Market Street (Indiana State Road 3), the hospital benefits from high visibility and direct connectivity to the Louisville metropolitan area, ensuring convenient access for both local and regional patients.