The Rise of Ambulatory Surgical Centers: What It Means for Medical Real Estate

In recent years—and especially now in 2025—we’ve seen a major uptick in demand for Ambulatory Surgical Centers (ASCs). These are outpatient facilities where patients can receive same-day surgical care without needing to be admitted to a hospital. The push toward value-based care, the need for more flexible reimbursement models, and patient preferences for more convenient, less expensive care options are fueling this trend.

For real estate professionals and appraisers in the healthcare space, this shift brings new challenges and opportunities. Traditional medical office buildings may need to be re-evaluated for conversion potential. Investors are increasingly looking for properties that meet the regulatory and functional standards required for an ASC. This includes things like HVAC systems that meet surgical-grade sterility needs, appropriate parking ratios, and proximity to hospitals in case of emergencies.

Moreover, many surgery centers are now being co-located with specialty practices—think orthopedics, ophthalmology, or pain management—which further blurs the line between MOBs and acute-care facilities. This hybrid approach affects not just design but also valuation methodology, particularly when the going concern value is considered alongside the real estate.

For those of us in valuation and advisory, the key is staying ahead of these shifts. ASCs are no longer fringe assets—they’re becoming central to outpatient care delivery. Understanding their impact on cap rates, lease structures, and operational value is critical for delivering accurate, forward-looking valuations in today’s market.

If you’re navigating ASC-related acquisitions or development, I’d love to connect and share how our valuation insights can help support your strategy. Book a time to chat here: https://calendly.com/contact-loveladyperspective. Or, stay in the loop with our newsletter here: https://www.loveladyperspective.com/contact.