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Fresenius Medical Care

1355 Palm Bay Road Northeast, Melbourne, FL 32905

$6,912,280

Cap Rate 5.10%

Views: 133 DOM: 261 Updated: 10.14.24 Posted: 04.05.24 Status: Active

Summary

Price $6,912,280
Built/Renov 2017
Tenant Fresenius Medical Care
Cap Rate 5.10%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,392
Lease Start 01-01-2017
#Units 4,171
Price/SF $665.15
Expiration 12-31-2032
Tenant Type Medical/Health
NOI $352,526
R. Term 8.0
Ownership Fee Simple
Rent/SF $33.92
Increases 1.7%/1/yrs
Pop 5Mi 141,306
Lot/AC 1.48
Options 3/5yrs
AHHI 5Mi $60,300

Haley Nekota
LemRx Realty Advisors
Contact

Dan Lem
LemRx Realty Advisors
Contact

Lease Highlights

  • Fresenius has 8+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1.7% annual rental increases throughout the initial term and the lesser of FMV or an amount equal to 110 % of base rent 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 Palm Bay Road NE, conveniently positioned off and near I-95. The property is surrounded by dense residential housing and well-known national tenants including Walgreens, Walmart, LA Fitness, BJ’s Wholesale, Chick-fil-A, Golden Corral, and more. Additionally, it is situated approximately 15 minutes from Melbourne International Airport and within 4 miles of...

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Key Features

  • Build to suit

  • Strategically located

  • Freeway close

  • Hospital close

  • Top 100 MSA

  • Income tax free state

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Fresenius Wikipedia Fresenius Wikipedia Melbourne, Florida Zip Code 32905 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 12,761 80,017 153,277
2023 Total Population : 12,666 79,089 149,964
2023 Employed Civilian Pop : 5,738 35,669 68,119
2023 Total Businesses : 414 2,651 6,398
2023 Average Household Income : $ 61,656 $ 73,755 $ 78,976
2023 Total Consumer Spending : $ 337 M $ 2174 M $ 4249 M
2023 Median Age : 47 46 45
2023 Total Households : 6,219 33,766 61,744
2023 Pop Age 25+: Bachelor's Degree : 2,701 12,619 22,103
2023 Average Home Value : $ 223,970 $ 265,167 $ 285,029
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Palm Bay Rd NE Stack Blvd 2007 33,660 0.10 mi
Palm Bay Rd NE Dairy Rd 2007 40,340 0.26 mi
Palm Bay Rd NE Riviera Dr NE 2007 33,420 0.39 mi
Palm Bay Road Northeast Sheafe Ave NE 2022 47,500 0.43 mi
Palm Bay Rd NE Riviera Dr NE 2008 37,000 0.49 mi
Stack Boulevard Lake Waterford W 2022 3,600 0.50 mi
Stack Blvd Alamanda Key Dr 2008 6,400 0.57 mi
Dairy Rd Range Dr 2008 19,040 0.65 mi
Babcock St NE Palm Bay Rd NE 2008 26,403 0.67 mi
Palm Bay Rd NE Riviera Dr NE 2008 43,000 0.78 mi

Listing Broker

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