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Views: 128 DOM: 166 Updated: 09.24.24 Posted: 06.07.24 Status: Active

Summary

Price $6,973,765
Built/Renov 2023
Tenant Kidney Spa
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,991
Lease Start 04-01-2023
#Units 8
Price/SF $1,164.04
Expiration 03-31-2038
Tenant Type Medical/Health
NOI $442,796
R. Term 13.4
Ownership Fee Simple
Rent/SF $73.91
Increases 2.0%/1/yrs
Pop 5Mi 469,128
Lot/AC 0.43
Options 3/5yrs/2%
AHHI 5Mi $55,516

Lease Highlights

  • New 2023 construction
  • Kidney SPA has 13+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 2% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Kidney Spa is strategically located at the signalized, hard corner intersection of Palm Avenue and W 43rd Street, with access to a combined daily traffic count of 20,200 vehicles. Palm Avenue is a major North-South roadway in Hialeah, which leads directly into downtown Miami that further connects to Interstate-95, traveling the entirety of the Florida Coast. Moreover, the property is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Kidney Spa
  • Guarantor:Corporate
  • Company:Kidney Spa LLC.
  • # Units:8
  • Stock:Private

About Tenant

Kidney Spa focuses on kidney health and dialysis services within the healthcare sector. The company offers hemodialysis services in a spa-like environment, comprehensive nephrology care, kidney...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 24,370 206,375 457,876
2024 Total Population : 25,515 205,106 459,882
2024 Employed Civilian Pop : 13,260 101,010 228,129
2024 Total Businesses : 1,171 12,584 37,995
2024 Average Household Income : $ 82,050 $ 69,162 $ 73,994
2024 Total Consumer Spending : $ 579 M $ 4414 M $ 10440 M
2024 Median Age : 50 48 44
2024 Total Households : 8,020 71,312 158,687
2024 Pop Age 25+: Bachelor's Degree : 2,586 22,787 52,789
2024 Average Home Value : $ 475,010 $ 466,716 $ 475,273
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Palm Ave E 48th St 2006 28,030 0.30 mi
East 41st Street E 2nd Ave 2022 11,800 0.31 mi
West 49th Street W 49th St 2022 40,500 0.45 mi
West 4th Avenue W 39th St 2022 37,500 0.51 mi
W 49th St W 3rd Ave 2009 49,500 0.53 mi
East 4th Avenue E 45th St 2022 24,000 0.55 mi
N Red Rd W 49th St 2004 38,500 0.59 mi
Palm Avenue W 53rd St 2022 16,800 0.64 mi
East 49th Street E 4th Ave 2022 42,500 0.66 mi
W 37th St W 5th Ave 2004 8,220 0.67 mi

Listing Broker

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