AdaptHealth | Corporate Guarantee | Adjacent to Greeneville Community Hospital

1413 Tusculum Blvd, Greeneville, TN 37745, USA


Marcus & Millichap is pleased to present for sale this AdaptHealth single tenant net leased medical property located at 1413 Tusculum Blvd, Greeneville, Tennessee. The subject property consists of 4,728 square feet of gross leasable area on a 0.48 acre parcel of land. The tenant, AdaptHealth (NASDAQ: AHCO) has recently signed a 5-year lease extension with a corporate guarantee.
AdaptHealth AdaptHealth is a full-service home medical equipment company that uses tailored products and services to empower patients to live their fullest lives – out of the hospital and in their homes. Greenville Community Hospital, Laughlin Medical Hospital, and Trinities Cancer Clinic are across the street from the property, providing a highly reliable and consistent source of business for the tenant. On a corporate level AdaptHealth has experienced a significant increase in revenue since the COVID-19 pandemic hit, providing valuable support throughout the public health crisis.
The double net lease has minimal landlord responsibilities, limited to roof and structure. The tenant has been occupying the property since 2015, and consistently extending the lease in 5-year periods. Most recently in November 2021, the lease was extended for an additional 5-years (ending 12/31/2026), with one 5-year renewal option. The current rent at $9 per square foot is well
below market pricing for corporate tenants in this area. Strategically located on Route 11 (Tusculum Blvd) between the regional medical center and primary retail corridor, the property benefits from full street frontage visible to average daily traffic counts of 10,012. National tenants in the immediate trade area include Marshall’s, Tractor Supply, Hobby Lobby, CVS, Walgreens, and many more. The population is over 46,000 within a 5-mile radius, with positive growth forecasted over the next 5-years. Greeneville is part of the Johnson City-Kingsport- Bristol TN-VA Combined
Statistical Area – commonly known as the “Tri-Cities” region. This historically significant town in that lies along the foot hills of the Appalachian Mountains. Asheville North Carolina, and Knoxville are within driving distance. Tenseness is an income tax free state.

  • AdaptHealth Corporate Guarantee (NASDAQ: AHCO)
  • AdaptHealth is a Leading Provider of Health Equipment and Medical Supplies Operating in 41 States with $1.4 Billion Annual Revenue
  • Adjacent to Greeneville Community Hospital, Laughlin Medical Hospital, and Trinities Cancer Clinic
  • Double Net Lease – Minimal Landlord Responsibilities
  • Below Market Rent for Corporate Tenants
  • Strong Upside on Short Term Leases
  • Full Street Frontage Visible to 10,012 VPD
  • Quick Access to E Andrews Johnson Highway Route-321 with 28,510 VPD
  • National Tenants in Immediate Trade Area Include Marshall’s, Hobby Lobby, CVS, Walgreens, & More
  • Strong Demographics with 46K+ Population and $56K+ Avg Household Income in a 5-Mile Radius
  • Positive 5-Year Population Growth Trend
  • Tennessee is an Income Tax Free State

Property Documents

  • AdaptHealth-Greeneville-TN-om-ib
  • City: Greeneville
  • State/county: Tennessee
  • Zip/Postal Code: 37745
  • Country: United States


  • Price: $576,000
  • Year Built: 1969

Additional details

  • CAP RATE: 6.25%
  • NOI: $36,000