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31112831
31112832

198 N Springfield Ave, Rockford, IL 61101

RB
IL IL 471005983
The Boulder Group
JG
IL 471007006
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by The Boulder Group
$2,210,563
80 days on market
Updated 80 days ago

DaVita Dialysis

Details
Property Type Office, Retail
Sub Type Dialysis
Square Footage 6,706
Cap Rate 7.5%
NOI $165,792
Occupancy 100%
Tenancy Single
Brand/Tenant DaVita
Lease Type NN
Lease Expiration 08/31/2032
Remaining Term 6.2
Rent Bumps Yes
Lease Options Three 5-year
Price per SqFt $330
Year Built 2017
Acreage 1.180
Investment Type Net Lease

7.50% Cap Rate | Recent Extension | 2017 Build

Investment highlights

  • Recent lease extension demonstrates commitment to the site

  • DaVita (NYSE: DVA) — Fortune 500 Operator — DaVita Inc. is the largest kidney dialysis provider in the United States, commanding a 37% market share with over 3,200 outpatient dialysis centers nationwide. The company is ranked #331 on the Fortune 500 with $13.6 billion in annual revenue.

  • Essential recession-resistant healthcare use

  • Located in Rockford – Third largest city in Illinois

  • 2017 construction – purpose-built dialysis facility

  • 90,000+ residents within a five-mile radius

  • Nearby traffic draws include Auburn High School (2,000 students), Farm & Fleet, and downtown Rockford

  • Adjacent to a future McDonald’s location

  • Limited dialysis competition in the immediate area

  • Near the signalized intersection of North Springfield Ave & West State Rd (22,000 combined VPD)

Listing Contacts

RB
IL IL 471005983
The Boulder Group
JG
IL 471007006
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by The Boulder Group

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$165,792.00
$13,816.00/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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Additional Information

Name
Randy Blankstein
License
IL 471005983
Brokerage Phone
8475620003
Title
IL
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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