Medical retail is not regular retail.
Different tenants. Different lease structures. Different credit analysis. We know the difference — and we know how to find the right deal.
Why medical retail NNN
Medical retail properties — urgent care clinics, dental practices, dialysis centers, orthopedic groups, veterinary hospitals — operate under fundamentally different dynamics than traditional retail. Demand is driven by demographics and healthcare needs, not consumer discretionary spending. These tenants don't compete with e-commerce. They need physical locations where patients walk in.
- Recession-resistant: healthcare demand doesn’t follow economic cycles
- E-commerce proof: medical services require in-person visits
- Aging demographics: 10,000 Americans turn 65 every day
- Long-term leases: 10–20 year initial terms with renewal options
- Essential services: tenants have strong business necessity to stay
How we underwrite medical retail tenants
Credit Without Ratings
Most medical tenants aren’t publicly traded and don’t carry S&P or Moody’s ratings. We analyze unit-level economics, franchise disclosure documents, operator track records, and guarantor financials to assess actual credit strength.
Lease Structure Analysis
Medical leases often include tenant improvement allowances, specialized build-out requirements, and co-tenancy provisions that don’t exist in standard retail. We evaluate the full lease — not just the rent number.
Location & Demographics
A dental practice in a growing suburb with 50,000 households within 5 miles is a different investment than one in a declining rural market. We analyze population growth, median income, insurance coverage rates, and competitive density.
Operator Depth
Is this a single-unit operator or a 200-location franchise system? We assess the guarantor’s financial capacity, operating history, and expansion trajectory to determine real default risk.
Deals We’ve Closed in Medical Retail
Baylor Scott & White
Copperas Cove, TX
Whether you’re evaluating a medical retail acquisition, navigating a 1031 exchange into healthcare properties, or looking to sell a medical retail asset — we’d like to hear about it.
- No sales team — you talk to a principal.
- Free consultation, no obligation.
- Nationwide buyer representation.
- Decades of NNN and 1031 experience.