Investment Opportunity:

• The Summit Medical Office Building represents a unique investment opportunity in a growing healthcare market. With its modern facilities, strategic location, and strong tenant community, it’s poised to be a valuable asset for any investor. Located one block south of Highway 9 and one mile southeast of Main Street in Frisco, this MOB is part of the St. Anthony Summit Medical Center campus and is located immediately east of the hospital facility. St. Anthony Summit Medical Center is a Level III trauma center serviced by Flight for Life.
• Investment Highlights: Ten (10) medical office condominiums In place 89.37% occupancy WALT 6.37 years In-place NOI – $1,157,896 Year 1 NOI – $1,243,741 High credit tenants – CommonSpirit and Vail-Summit Orthopaedics occupy 78.04% of the building. On-campus Medical Office Building Level III Trauma CommonSpirit Hospital Health care real estate ownership without the hassles of property management.
• Condominium Ownership: This acquisition consists of ten commercial condominium units located on the first, second and third floors of the Summit County Medical Office Building. The building includes a total area of approximately 82,165 square feet which is divided between the subject units with a rentable area of 41,260 square feet (~50%) with the remaining 40,959 square feet contained in fourteen condominium units held in the name of the Summit County Board of Commissioners. The building includes a high quality of construction and level of finish with an efficient interior layout. Access is provided by means of an elevator served central lobby as well as a central stairway and various stairwells. Access to the various tenants' suites in the building are provided by a central interior hallway and interior corridors that run the length of the building. As of Feb 2024, the Summit County Medical Buidling One Condominiums Association holds $307,570 in cash reserves for capital improvements. Current capital improvements projects recently completed or are currently underway include: 1) Exterior Sidewalk Concrete Heating AI Project: Completed 2) Unit Door Access Coding Project: Completed 3) Concrete Replacement: Underway - Front east sidewalk has to be replaced due to cracking and safety concerns. Columbine Concrete’s bid was accepted. Scheduling underway. 4) Roof Replacement: Roof replacement project is being slated for the summer of 2024. Bids are in process.
• Ground Lease and Restrictive Covenants: A detailed legal summary matrix is available for buyer's review. This MOB was built on leased land and is subject to the existing Ground Lease by and between the Board of County Commissioners of Summit County, Colorado as Lessor and SCMOB Leasing Trust 2005, as Lessee Dated August 31, 2005. The term of the land lease is for ninety-nine years which extends to August 31, 2104 or approximately eighty years from the date of this offering.
• Zoning: The building is part of the County Commons PUD, Parcel 7, zoned under Summit County jurisdiction. Allowed used in Parcel 7 reportedly include up to 215,000 square feet of floor area for community facilities, institutional uses, hospitals, medical offices, professional/business offices, and health services. The subject’s use as medical office space is considered an allowed use under the current PUD zoning.

Tourism Market Highlights:

• Tourism Spending: In 2018, Summit County's tourism spending exceeded $1 billion ranking it as the third highest in Colorado¹. This represents a substantial increase from 2010, with a growth of about $524 million.
• Tax Revenue: The increase in tourism has positively impacted local tax revenues. For instance, Breckenridge reported a 7% increase in net taxable sales from 2018-2019¹. Other towns like Frisco, Dillon, and Silverthorne also reported significant increases in sales taxes, reflecting the thriving tourist activity¹.
• Visitor Information: Summit County is renowned for its stunning Rocky Mountain scenery and outdoor adventures. It offers world-class skiing and snowboarding at resorts like Breckenridge, Keystone, and Copper Mountain. In the summer, visitors can enjoy hiking, biking, boating, and fishing on Lake Dillon, along with various outdoor events and festivals².
• Local Towns: The county is home to several charming towns, each providing unique attractions and recreational opportunities. Breckenridge is known for its historic charm and ski resort, Frisco offers a quaint Main Street and marina, Dillon features water-based activities and the Dillon Amphitheater, and Silverthorne is known for its shopping outlets² and new construction along the Blue River.
• Sustainable Tourism Concerns: Despite the economic benefits, there have been concerns about sustainable tourism. Issues such as event fatigue, short-term rentals, and traffic have been raised, highlighting the need for a balance between tourism growth and quality of life for residents(4).
• Overall, Summit County's tourism market is vibrant and dynamic, attracting visitors year-round for its diverse outdoor activities and natural beauty. However, managing sustainable tourism remains a challenge to ensure the long-term health of the industry and the community. Source: Conversation with Bing, 3/30/2024 (1) Report: Summit County tourism spending exceeds $1 billion, 3rd highest .... https://www.summitdaily.com/news/report-summit-county-tourism-spending-exceeds-1-billion/. (2) Visitor Information | Summit County Chamber. https://summitchamber.org/visitor-information/. (3) Summit County tourism spending exceeds $1 billion, 3rd highest ... - News. https://www.vaildaily.com/news/colorado/summit-county-tourism-spending-exceeds-1-billion-3rd-highest-in-state/. (4) Summit County Public Health Chamber Update 08/06/2021. https://www.summitcountyco.gov/DocumentCenter/View/32806/SCPH-Chamber-Update-8_06_21-Final.