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Views: 147 DOM: 391 Updated: 09.18.24 Posted: 10.27.23 Status: Active

Summary

Price $3,207,694
Built/Renov 2008/2018
Tenant Fresenius Medical Care
Cap Rate 5.90%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,369
Lease Start 07-03-2008
#Units 4,171
Price/SF $342.37
Expiration 07-31-2028
Tenant Type Medical/Health
NOI $189,254
R. Term 3.8
Ownership Fee Simple
Rent/SF $20.20
Increases 2.5%/4/yrs
Pop 5Mi 254,032
Lot/AC 0.67
Options 2/5yrs/2.5%
AHHI 5Mi $61,824

Lease Highlights

  • Fresenius has operated at this location for over 15 years
  • The tenant recently extended their lease and has 4+ years remaining with 2 (5-year) options to extend
  • Increases in the option periods are equal to the lesser of FMV or 2.5% annual increases
  • Corporate guaranteed lease
  • Investment grade tenant (S&P: BBB-)

Location Description

Fresenius is located along South 6th Avenue (25,600 VPD), an arterial thoroughfare that serves the city of Tucson. Located in a dense retail corridor, Fresenius is within close proximity of multiple national/credit tenants including Costco, Walmart Supercenter, Food City, Goodwill, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store...

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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 : 10,789 100,915 251,883
2023 Total Population : 10,345 100,861 252,874
2023 Employed Civilian Pop : 3,346 41,577 110,720
2023 Total Businesses : 517 4,611 9,821
2023 Average Household Income : $ 49,202 $ 63,514 $ 65,714
2023 Total Consumer Spending : $ 171 M $ 2119 M $ 5722 M
2023 Median Age : 33 31 31
2023 Total Households : 3,922 37,673 98,771
2023 Pop Age 25+: Bachelor's Degree : 350 7,073 22,561
2023 Average Home Value : $ 227,631 $ 228,042 $ 255,685
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S 6th Ave E 38th St 2014 16,907 0.03 mi
S 6th Ave E Benson Hwy 2005 30,420 0.15 mi
S 6th Ave 2021 6,403 0.18 mi
S 4th Ave E Old Vail Rd 2014 2,139 0.20 mi
South 4th Avenue E 40th St 2018 2,817 0.21 mi
6th Ave I- 10 2020 27,421 0.22 mi
W 36th St S 8th Ave 2018 467 0.23 mi
S 6th Ave W 35th St 2002 25,600 0.25 mi
I- 19 Bus 2021 7,316 0.25 mi
I- 10 S 10th Ave 2016 111,380 0.27 mi

Listing Broker

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