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Views: 75 DOM: 113 Updated: 07.24.24 Posted: 07.09.24 Status: Sold 10.30.24

Summary

Price $3,236,390
Built/Renov 1985
Tenant DaVita Dialysis
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 15,289
Lease Start 09-01-2017
#Units 3,042
Price/SF $211.68
Expiration 12-31-2037
Tenant Type Medical/Health
NOI $194,183
R. Term 13.0
Ownership Fee Simple
Rent/SF $12.70
Increases 1.0%/1/yrs
Pop 5Mi 801,655
Lot/AC 0.51
Options 3/5yrs/1%
AHHI 5Mi $86,983

Lease Highlights

  • DaVita Dialysis has 13+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 1% annual rental escalations throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

DaVita Dialysis is strategically located on West Chelten Avenue, with access to 10,349 vehicles passing by daily. The property is situated just 0.1 miles from the Chelten Avenue Station on SEPTA’s Chestnut Hill West Line and is only 2.5 miles from the on/off ramps to I-76 (with 201,192 VPD). Additionally, it is within close proximity to Einstein Medical Center, Excel Medical Center, Roxborough...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: DaVita Dialysis
  • Guarantor:Corp T and Rated
  • Company:Davita Inc.
  • # Units:3,042
  • 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
2029 Total Population : 33,859 316,213 810,915
2024 Total Population : 34,044 318,558 803,676
2024 Employed Civilian Pop : 16,559 145,882 374,690
2024 Total Businesses : 1,041 8,461 21,531
2024 Average Household Income : $ 84,868 $ 79,945 $ 91,345
2024 Total Consumer Spending : $ 1208 M $ 9673 M $ 26641 M
2024 Median Age : 37 38 36
2024 Total Households : 16,090 136,489 330,190
2024 Pop Age 25+: Bachelor's Degree : 5,055 38,827 106,290
2024 Average Home Value : $ 368,641 $ 300,603 $ 345,945
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Chelten Ave Wayne Ave 2017 5,891 0.03 mi
Pulaski Ave W Chelten Ave 2013 3,661 0.05 mi
Wayne Ave W Chelten Ave 2017 10,349 0.08 mi
W Chelten Ave Morris St 2017 5,891 0.10 mi
Wayne Avenue W Winona St 2021 13,594 0.13 mi
Wayne Avenue W Rittenhouse St 2019 12,778 0.13 mi
W Rittenhouse St Morris St 2017 3,323 0.16 mi
W School House Ln Pulaski Ave 2012 4,512 0.17 mi
W Rittenhouse St Knox St 2016 4,343 0.18 mi
Wayne Avenue W School House Ln 2022 8,067 0.19 mi

Listing Broker

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