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29011717

100 Main St, Middletown, CT 06457 For Sale

TS
TX #452773, CO #ER1000499399
Northmarq - Tulsa
PK
GA GA 438411
Northmarq
Listed by Northmarq - Tulsa, Northmarq
$4,337,000
208 days on market
Updated 2 days ago

3-TENANT MEDICAL & RETAIL CENTER

Details
Property Type Office, Retail
Sub Type Medical Office
Square Footage 14,000
Cap Rate 7%
NOI $303,548
Occupancy 100%
Tenancy Multi
Lease Type NNN
Rent Bumps Yes
Lease Options None; 2, 5-yr; 3, 5-yr
Price per SqFt $310
Class B
Year Built 1960
Year Renovated 2009
Acreage 0.820
Investment Type Net Lease
Ownership Fee simple

ANCHORED BY DAVITA DIALYSIS (MOODY'S: BA2 | S&P: BB)

Marketing description

Northmarq National Healthcare Group is pleased to exclusively offer the opportunity to acquire the fee simple interest in a 3-tenant medical and retail building located in the heart of Middletown, Connecticut. The property is comprised of 3 tenants: DaVita Dialysis, Edible Arrangements, and a local restaurant, Abyssinian Food. The anchor tenant, DaVita, Inc. is one of the leading kidney care companies in the world with over 2,657 outpatient clinics in 46 states. It also offers acute inpatient dialysis services in approximately 850 hospitals and it guarantees this lease unconditionally. This publicly traded company is number 341 on the Fortune 500. As of December 31, 2024, DaVita, Inc. generated over $12.82 billion in revenue yielding it over $936.3 million in net income. DaVita, Inc. is credit rated Ba2 by Moody's Investor Services and BB by Standard & Poor's Rating Service. Warren Buffet's Berkshire Hathaway is a long-time owner of the company with 38% of the total shares outstanding owned, making this his 12th largest position.

Investment highlights

BEST-IN-CLASS OPERATOR

GROWING INDUSTRY

MACROECONOMIC CHANGES PROTECTION

AFFLUENT DEMOGRAPHICS

VISIBILITY & ACCESS

NNN LEASE STRUCTURE WITH ATTRACTIVE RENTAL INCREASES

TENANTS OPERATING HISTORY AT SUBJECT PROPERTY

Listing Contacts

TS
TX #452773, CO #ER1000499399
Northmarq - Tulsa
PK
GA GA 438411
Northmarq
Listed by Northmarq - Tulsa, Northmarq

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$303,548.00
$25,295.67/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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