Listed by ParaSell Inc, Hanley Investment Group
$3,115,500
DaVita Dialysis | Austin, TX
Details
Property Type Retail, Office
Sub Type QSR/Fast Food, Medical Office
Square Footage 7,418
Net Rentable (SqFt) 7,418
Cap Rate 5.75%
NOI $179,145
Tenancy Single
Brand/Tenant DaVita, Heartland Dental
Lease Type NNN
Lease Expiration 12/31/2034
Rent Bumps Yes
Lease Options Three 5-Year @ FMV
Year Built 1987
Year Renovated 2003
Acreage 1.000
Tenant Credit Corporate Guarantee
Lease Commencement 04/01/2004
Ground Lease No
3% Annual Increases | NNN Lease | 8+ Years Remaining
Marketing description
click here for full offering memorandum: https://hanleyinvestmentgroup.com/listings/?id=a0EPg0000026GNV&track=xMtg-JTXwpqBnlKKfFkMKQgoM
Investment highlights
- Fortune 500 Corporate Guarantee - Complete Recommitment to the Site
- Corporate guarantee from DaVita Inc. (NYSE: DVA), one of the largest kidney-care providers in the U.S.; 3,000+ outpatient centers serving 250,000+ patients
- Tenant just executed a fresh 8-year extension with ~3% annual increases and reinstated three 5-year options after 25+ years of successful operations at the site
- Mission-critical, life-sustaining medical use - recession- and internet-resistant with exceptional tenant "stickiness"
- Below-Market Rent of $24.15 PSF | Embedded Growth
- 3% annual increases; next bump January 1, 2027 - providing a durable inflation hedge
- Strong unit-level operations: 6 days/week, three shifts per day, 20 stations, established patient census of 85 (contact broker for details)
- Tenant installing two new HVACs at their own expense
- Irreplaceable Infill Austin Location
- Positioned along coveted South 1st Street, a primary corridor connecting directly to Downtown Austin (13-min drive)
- 2 miles from St. David's South Austin Medical Center - ranked Top 1% nationwide and #1 hospital within 50 miles (Placer.ai), currently undergoing a $180M expansion
- 325,000+ residents within 5 miles with average household income exceeding $134,000
- Austin, TX: Top-Tier Growth Market | Income Tax-Free State
- #10 largest city in the nation; Austin–Round Rock MSA projected to be the fastest-growing large metro over the next 5 years
- Metro households grew 51% from 2014 to 2024; home to Tesla, Oracle, Whole Foods, and 3,000+ tech companies
Listing Contacts
Listed by ParaSell Inc, Hanley Investment Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$179,145.00
$14,928.75/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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