Innovative Renal Care

20001 Livernois Avenue, Detroit, MI 48221

$1,999,000

Cap Rate 8.58%

Views: 143 DOM: 257 Updated: 09.10.24 Posted: 04.09.24 Status: Active

Summary

Price $1,999,000	Built/Renov 2003/2009	Tenant Innovative Renal Care
Cap Rate 8.58%	Lease Type Double NN	Guarantor Corporate
Size/SF 9,500	Lease Start 08-01-2009	#Units 230
Price/SF $210.42	Expiration 07-31-2029	Tenant Type Medical/Health
NOI $171,433	R. Term 4.7	Ownership Fee Simple
Rent/SF $18.05	Increases 3.0%/1/yrs	Pop 5Mi 163,674
Lot/AC 0.61	Options 0/0yrs	AHHI 5Mi $53,273

Lease Highlights

Innovative Renal Care has been operating in this location since 2009
The tenant has 5 years remaining on the current lease term
The lease features 3% annual rental escalations throughout the initial term
Corporate guaranteed lease

Location Description

Innovative Renal Care is strategically located on Livernois Avenue, a heavily traveled thoroughfare. The property is positioned in an up-and-coming corridor, known as one of the strongest city neighborhoods. The 5-mile trade area is supported by a population of 163,674 residents with an average household income of $53,273. Detroit, the most populous city in the state of Michigan, serves as the...

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Key Features

Build to suit
In location for years
Strategically located
Highway close
Dense 200M+ pop 5 mi
Top 100 MSA
Long operation history
Annual rent increases
Corporate Guarantee
Over 1000 units backed

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Links

Innovative Renal Care Wikipedia Detroit, Michigan Zip Code 48221 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Innovative Renal Care
Guarantor:Corporate
Company:Nautic
# Units:230
Stock:Private

About Tenant

Innovative Renal Care (IRC) is a pioneering network of dialysis professionals devoted to helping people with kidney disease lead their best lives as they undergo treatment. As strong allies in...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	16,297	145,584	403,363
2023 Total Population :	16,457	146,515	403,868
2023 Employed Civilian Pop :	7,803	66,791	173,179
2023 Total Businesses :	439	4,292	11,998
2023 Average Household Income :	$ 89,433	$ 77,511	$ 75,714
2023 Total Consumer Spending :	$ 565 M	$ 4257 M	$ 11213 M
2023 Median Age :	43	41	40
2023 Total Households :	7,287	62,932	169,382
2023 Pop Age 25+: Bachelor's Degree :	2,776	21,812	52,744
2023 Average Home Value :	$ 215,105	$ 205,136	$ 206,798

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Chippewa Ave	Livernois Ave	2004	1,531	0.07 mi
Warrington Drive		2019	3,060	0.10 mi
Warrington Drive		2019	3,900	0.26 mi
Norfolk Avenue	Monica St	2022	663	0.26 mi
Warrington Drive		2019	2,500	0.29 mi
Monica Street	Norfolk Ave	2022	409	0.29 mi
Livernois Street	Livernois St	2022	3,602	0.40 mi
W 8 Mile Rd	Santa Rosa Dr	2002	59,800	0.40 mi
W Outer Dr	Monica St	2004	11,050	0.41 mi
W 8 Mile Rd	Pinecrest Dr	2003	59,800	0.42 mi

Listing Broker

Ayson Shammami

ENCORE Real Estate Investment Services

Contact

31 Listings
4252 Views
7 Sold

Deno Bistolarides

ENCORE Real Estate Investment Services

Contact

78 Listings
10239 Views
31 Sold

Ayson Shammami

Ayson Shammami is a Senior Director of Investment Sales at Encore Real Estate Investment Services in West Bloomfield, MI. He joined the company in 2018 as an Associate Advisor specializing in retail properties and later expanded his practice to include industrial properties. Quick to learn and driven to excel, from the start at Encore Shammami demonstrated an aptitude for the commercial real estate industry and an understanding of the national retail landscape that far surpassed his level of

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Deno Bistolarides

Deno Bistolarides is a founding member and Managing Partner of Encore Real Estate Investment Services. Along with his partners Brandon Hanna and Ryan Vinco, Deno oversees a team of seasoned investment professionals that focus on advising clients in the acquisition and disposition of net leased and multi-tenant retail assets throughout the United States. In his career, which has spanned over a decade, Deno has advised private clients, developers, institutions and has completed over 400 transacti

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