Fresenius Medical Care

3825 County Road 69, Corpus Christi, TX 78410

$3,378,888

Cap Rate 5.25%

Views: 118 DOM: 230 Updated: 10.14.24 Posted: 04.05.24 Status: Active

Summary

Price $3,378,888	Built/Renov 2018	Tenant Fresenius Medical Care
Cap Rate 5.25%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 7,160	Lease Start 05-25-2018	#Units 4,171
Price/SF $471.91	Expiration 05-24-2033	Tenant Type Medical/Health
NOI $177,368	R. Term 8.6	Ownership Fee Simple
Rent/SF $24.77	Increases 10.0%/5/yrs	Pop 5Mi 33,914
Lot/AC 2.00	Options 3/5yrs	AHHI 5Mi $82,567

Lease Highlights

Fresenius has 8+ years remaining on the current lease term with 3 (5-year) options to extend
The lease features 10% rental increases throughout the initial term and FMV at the start of each option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Fresenius is strategically located on County Road 69, conveniently positioned off Highway 69E. The property is surrounded by dense residential housing and well-known national tenants including AutoZone, Dollar General, O'Reilly, Walmart, Chick-fil-A, and others. Additionally, it is located approximately 19 minutes from Corpus Christi International Airport and is a short drive from several...

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Key Features

Build to suit
Roof guarantee
Freeway close
Hospital close
Major MSA
Income tax free state
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Fresenius Wikipedia Fresenius Wikipedia Corpus Christi, Texas Zip Code 78410 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Fresenius Medical Care
Guarantor:Corp T and Rated
Company:Fresenius Medical Care
# Units:4,171
Tenant S&P: BBB-
Moody’s: Baa3
Stock: NYSE: FMS

About Tenant

Fresenius Medical Care AG & Co. KGaA is a German healthcare company that provides kidney dialysis services through a network of 4,171 outpatient dialysis centers, serving 345,425 patients....

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,700	17,078	37,067
2023 Total Population :	4,487	16,457	36,298
2023 Employed Civilian Pop :	2,370	7,902	16,600
2023 Total Businesses :	225	532	930
2023 Average Household Income :	$ 132,201	$ 112,956	$ 95,148
2023 Total Consumer Spending :	$ 175 M	$ 560 M	$ 1055 M
2023 Median Age :	38	38	37
2023 Total Households :	1,567	5,780	12,798
2023 Pop Age 25+: Bachelor's Degree :	751	1,893	3,641
2023 Average Home Value :	$ 331,557	$ 293,354	$ 245,124

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Northwest Blvd	Co Rd 69	2010	28,941	0.35 mi
Northwest Boulevard	River Run Rd	2022	33,435	0.35 mi
Northwest Blvd	Riverside Blvd	2010	28,000	0.45 mi
Northwest Blvd	Five Points Rd	2010	30,000	0.79 mi
Northwest Boulevard	Five Points Rd	2022	39,838	0.84 mi
	Northwest Blvd	2021	19,750	0.85 mi
	Northwest Blvd	2022	15,618	0.85 mi
I 69E;US 77	Five Points Rd	2021	31,869	0.87 mi
I 69E;US 77	Five Points Rd	2022	29,456	0.87 mi
TX 121	Up River Rd	2020	56,465	0.88 mi

Listing Broker

Haley Nekota

LemRx Realty Advisors

Contact

9 Listings
1079 Views
0 Sold

Dan Lem

LemRx Realty Advisors

Contact

9 Listings
1079 Views
0 Sold

Haley Nekota

Haley began her real estate career after working in hotel sales for major chains including Noble House Hotels & Hilton for many years and then working as a residential agent serving all of Northern California. In 2019 she transitioned to commercial real estate and began working for LemRx Realty Advisors. She has quickly become an expert in investment purchase and sales of national credit single tenant net leased properties and has expanded into the STNL medical space to focus on the increas

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Dan Lem

Since 1986 Dan and his team of seasoned advisors have helped clients develop, buy,sell, finance, or sell/leaseback over $1,000,000,000 (US$ one billion) in real estate including over 120 properties occupied by Walgreens, CVS, or Rite Aid. Dan's clients include institutional and high net worth investors including such celebrity clients as George and Gavin Maloof, owners of the Sacramento Kings and Preston Keogh, son of congressman Eugene Keogh of the "The Keogh Plan". Dan is a CPA and has worked

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