Listed by Matthews
$2,233,489
Fresenius Kidney Care
Details
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 8,156
Cap Rate 6.5%
NOI $145,176
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Expiration 02/28/2035
Remaining Term 8.7
Rent Bumps Yes
Lease Options 2 x 5-Years
Price per SqFt $274
Broker Co-Op Yes
Year Built 1996
Acreage 1.250
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/15/1996
Ground Lease No
Fresenius Kidney Care | 6.50% Cap Rate | 8,156 SqFt | $2,233,489
Marketing description
- Long Lease Term – There is approximately 8.9 years remaining on the current term of the lease.
- Nearly 30-Year Operating Tenure at This Location – Tenant has been operating at this location for ~30 years. Over that span, the tenant has executed four successive lease renewals, showing their commitment to the site.
- Tenant recently exercised an early lease extension – In 2023, Fresenius executed a new 10-year lease running through February 28, 2035, again showing their commitment to this site.
- Sticky Tenant – ESRD patients require dialysis three times per week for life — missing sessions can be fatal. Relocating a center means transferring ~80 active patients who medically cannot tolerate disruption, decommissioning a commercial-grade reverse osmosis water treatment system hardwired into the building’s infrastructure, rebuilding 20 dedicated plumbing stations, and re-certifying with CMS at a new address before billing Medicare again, making it unlikely and unconventional for a dialysis tenant to relocate their facility.
- Above Average Dialysis Stations Location – With 20 in-center dialysis stations, this facility exceeds the national average — peer-reviewed NIH research found that even multi-clinic markets average just 19 stations per facility. At approximately 4 patients per station, this center serves roughly 80 active patients weekly. A facility of this size represents significant capital deployment by Fresenius and is managed as a primary market location, not a satellite clinic.
- Long-Standing CMS Medicare Certification — This facility holds active CMS Medicare certification — a designation required by federal law to bill for any dialysis services. Maintaining certification requires ongoing compliance with strict Conditions for Coverage and routine state agency surveys. That certification is address-specific and would need to be re-established from scratch at any new location, creating another powerful economic disincentive to ever leave this site.
- Full-Service Dialysis Hub (All Four Treatment Modalities) – This facility offers all four dialysis treatment types — in-center hemodialysis, nocturnal in-center hemodialysis, at-home hemodialysis, and at-home peritoneal dialysis. According to a peer-reviewed study published in the Journal of the American Society of Nephrology (2020), 45% of Medicare-certified dialysis facilities in the U.S. were not licensed to offer any home dialysis modality as of 2019. This location’s comprehensive service offering places it among the minority of truly full-service kidney care facilities in the country.
- Two 55+ Communities Within One Mile Reinforce Sustained Patient Demand —Two senior communities sit within one mile of the subject property: Wesleyan Meadows, an established 55+ independent living campus located directly behind the property, and Magnolia Meadows, a 55+ active adult community delivered in March 2024 less than one mile away on Detroit Road. The concentration of age-qualified residents in the immediate trade area directly expands the facility’s addressable patient base, as adults 65+ represent the highest-incidence demographic for chronic kidney disease and end-stage renal disease.
- Large Parcel Size – Situated on ±1.25 acres, the property offers strong residual land value and future redevelopment potential.
- Strong Medical & Retail Synergy – Our subject property is surrounded by a significant number of medical offices and national retailers such as Chipotle, Starbucks, Aldi, Burlington, Harbor Freight, Sam’s Club, Panera Bread, and others.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,176.00
$12,098.00/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
