In medical real estate, the line between precision and perception is far thinner than many assume.
Valuing a medical property is rarely about the numbers alone. It begins with recognising that every property tells a different story, not just of its physical form, but of its tenants, leases, and the communities they serve. A purpose-built clinic in a growing regional hub carries a different investment rhythm to an ageing practice in a suburban strip.
More commonly, analysts lean on the sales comparison approach. Here, recent transactions guide value through the lens of market sentiment. Yet even this method demands judgement, as true comparables are rare. A newly built day surgery leased to a hospital group under a 15-year triple-net structure is not easily matched against a smaller general practice with a short-term lease. Location, lease terms, and tenant credit all shift the calculus. For medical assets, particularly, the lease covenant can outweigh the bricks and mortar.
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