U.S. Renal Care
U.S. Renal Care | 7.25% CAP | Long-Term Lease w/ 2.5% Annual Increases | Adjacent to Airforce Base
Marketing description
Surmount is pleased to present the exclusive listing for a U.S. Renal Care at 1401 East Broadway Street, Altus, OK. The site consists of roughly 5,725 rentable square feet of building space on an estimated .91-acres. The property is subject to a 20-year Double Net (NN) lease, which commenced in 2014. The current annual rent is $234,568 and has scheduled increases of 2.50% Annually.
The subject dialysis property is open 6 days per week, signaling very strong performance, and has served this high demand market for over a decade. Altus, OK is anchored by Altus Airforce Base’s +10k person military community including active members, veterans, dependents, and civilian employees. Veterans experience kidney disease at a much higher rate than the general population, with roughly 1 in 6 affected versus 1 in 10 U.S. adults. With a concentrated veteran population and no other dialysis center within 50 miles, this dialysis facility has benefited as the region’s primary dialysis center for more than a decade. The county has an 8.2% diabetes prevalence rate and a per capita healthcare spending of $7,293.
The property is strategically positioned within Altus’s main healthcare corridor, adjacent to Jackson County Memorial Hospital (49 Beds). This represents an opportunity to acquire a strategically placed asset, benefitting from a stable, high demand driven, recessionary resistant, and largely federally backed patient base of veterans, TRICARE beneficiaries, and military families comprising +25% of the patient base.
Investment highlights
Corporate Tenant with Strong Industry Presence | U.S. Renal Care is one of the nation’s leading providers of dialysis services, operating +500 clinics across 32 states. The lease is backed 60% by a corporate guarantee from Dialysis Newco, Inc., a wholly owned subsidiary of U.S. Renal Care, and 40% Personal Guarantee from the Nephrologists, offering investors a reliable income stream from a creditworthy healthcare tenant.
Proven Location Performance & Tenant Commitment | U.S. Renal Care has demonstrated long-term commitment to the location, exercising a rare 20- year lease in 2014, and the clinic has operated at this location for over a decade. Their long-term presence in the Altus community supports sustained demand and patient volume. With no other dialysis centers within 50-miles, this location is strategically placed to serve a high demand community driven by local veterans, Tricare beneficiaries, and military families.
Long-Term Passive Lease with Annual Rent Increases | The property is subject to a Double Net (NN) lease, where the Tenant reimburses Landlord for replacement of the roof, HVAC, and parking areas on an amortized basis. The Landlord is responsible for the costs associated with structural components of the building, exterior plumbing and electrical systems. The Tenant is responsible for all other expenses, including maintenance and repairs. The lease currently has 8+ Years remaining, with 2.50% annual rent escalations in addition to (2) 5-year options at Fair Market Value (FMV).
Strategically Positioned Along Altus’s Primary Medical Corridor | The property sits within Altus’s main medical corridor with frontage along U.S. Route 62 at the primary entry into town. This corridor is anchored by Jackson County Memorial Hospital, a 49-bed hospital, and includes Cancer Center of SW Oklahoma, JCMH Women’s Health, JCMH Pediatric, JCMH Surgery & Rehab Center, Xpress Wellness Urgent Care, D&J Orthodontics, and multiple family medicine and orthopedic practices. Apart from the Air Force Base medical clinic and VA Clinic, nearly all healthcare services are concentrated in this immediate corridor.
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