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Views: 23 DOM: 49 Updated: 05.10.24 Posted: 03.28.24 Status: Active

Summary

Price $775,000
Built/Renov 1960
Tenant DaVita Dialysis
Cap Rate 8.74%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 23,000
Lease Start 05-01-2011
#Units 3,074
Price/SF $33.70
Expiration 04-30-2026
Tenant Type Medical/Health
NOI $67,721
R. Term 1.11
Ownership Fee Simple
Rent/SF $2.94
Increases 2.0%/1/yrs
Pop 5Mi 109,824
Lot/AC 2.16
Options 3/5yrs/2%
AHHI 5Mi $63,088

Lease Highlights

  • DaVita Dialysis has 2 years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Awning to be repainted 'DaVita Blue' color
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

DaVita Dialysis is strategically located on Avenue E. Within the property, there is an additional 8,000 square feet currently occupied by “Beauty Masters,” paying $2,050 per month until August 31st, 2024. Upon their vacancy, the Landlord will have the opportunity to lease up this additional space for a significant increase in cash flow and overall return, as well as pro forma cap rate. The new...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: DaVita Dialysis
  • Guarantor:Corp T and Rated
  • Company:Davita Inc.
  • # Units:3,074
  • Tenant S&P: BB
  • Moody’s: Ba3
  • Stock: NYSE: DVA

About Tenant

DaVita Inc. (NYSE: DVA) is one of the largest dialysis providers in the United States. Their U.S. dialysis and related lab services business treats patients with chronic kidney failure, ESKD, in...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,158 46,669 104,875
2023 Total Population : 6,267 47,531 106,732
2023 Employed Civilian Pop : 2,321 18,961 44,314
2023 Total Businesses : 221 1,125 3,174
2023 Average Household Income : $ 44,366 $ 50,689 $ 54,269
2023 Total Consumer Spending : $ 108 M $ 876 M $ 2179 M
2023 Median Age : 38 39 41
2023 Total Households : 2,756 19,644 45,710
2023 Pop Age 25+: Bachelor's Degree : 399 3,582 9,664
2023 Average Home Value : $ 146,299 $ 156,885 $ 171,375
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
25th Street Avenue E 2014 2,750 0.08 mi
Avenue E 22nd St 2021 2,283 0.29 mi
Avenue I 30th St 2021 4,097 0.39 mi
Avenue E 34th St 2020 3,956 0.40 mi
Avenue E 34th St 2014 17,550 0.40 mi
20th St Ave E Aly 2011 17,444 0.42 mi
Avenue I 24th St 2014 5,140 0.50 mi
32nd Street Ensley Ave E 2020 4,867 0.50 mi
32nd Street Ensley Ave I 2021 4,867 0.50 mi
20th Street Ensley Ave P 2014 4,590 0.51 mi

Listing Broker

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