Listed by Marcus & Millichap - Nashville
$7,341,287
DaVita Dialysis | San Diego MSA
Details
Property Type Office
Sub Type Medical Office
Square Footage 10,655
Units 1
Cap Rate 5.75%
NOI $422,124
Occupancy 100%
Tenancy Single
Brand/Tenant DaVita
Lease Type NNN
Lease Term 20
Lease Expiration 08/07/2036
Remaining Term 10.2
Rent Bumps Yes
Lease Options 3, 5-Year
Price per SqFt $689
Class A
Year Built 2016
Acreage 0.250
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/07/2016
Ground Lease No
Ownership Fee Simple
10+ Years Remaining | 2% Annual Increases
Marketing description
Investment highlights
- 10+ Years Remaining on a modified NNN lease with minimal landlord responsibilities
- Well-established dialysis clinic with nearly 10-years of operational history at this location, with 21 dialysis stations & over 350 patients (1)
- 2% Annual Rent Increases during primary term and option periods
- Exceptional Demographics with average household incomes of $129,369 within a 1-Mile radius and over 300,000 residents within a 5-Mile radius
- Corporately Guaranteed Lease: DaVita Healthcare Partners, Inc. (NYSE: DVA), a leading provider in dialysis treatment operates over 3,200 across the U.S. and in 14 other countries with over 78,000 employees. DaVita boasts annual revenues exceeding $13.6 Billion
- Situated in an Albertson’s grocery anchored shopping center at the prominent corner of Oceanside Blvd (31,000 VPD) and College Blvd (36,000 VPD)
- Nationally-recognized tenants in the immediate trade area include: Albertson’s, CVS/pharmacy, Planet Fitness, 88 Ranch Marketplace, Starbucks, Del Taco, Ace Hardware, Carl’s Jr. KFC, Jiffy Lube, Verizon, Autozone, ALDI, and many more
- Strategically located within close proximity to regional medical centers including the Tri-City Medical Center - a regional hospital with emergency services and over 500 physicians
- Other medical specialists in the immediate area include: Public Health Center - North Coastal, Scripps Coastal Medical Center, Apria Healthcare, and many more
(1) Source: www.data.cms.gov. Buyer is responsible for verifying during Due Diligence.
Listing Contacts
Listed by Marcus & Millichap - Nashville
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$422,124.00
$35,177.00/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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