DaVita, Inc.
6,227 SF | Office Building | Culpeper, VA 22701 | $1,753,523 ($282/SF) | 6.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,753,523
- Property Type
-
Office
- Square Feet
- 6,227 SF
- Price / Square Foot
- $282
Listing Contacts
Scott Briggs
Verified Profile
Kelly Largent
Verified Profile
Jake Schooley
Verified Profile
David Read
Verified Profile
Sarah Martin
Verified Profile
- Property Info
Property Overview
Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in a single-tenant medical office facility located in Culpeper, Virginia (the "Property").
The Property consists of 0.43 acres and a one-story, 6,227-square-foot medical office building that was built in 1995 and renovated to the exact specifications of the Tenant in 2018. The Property is located on Southridge Parkway in the South Ridge Office Park in between James Monroe Highway/US-29 Highway (20k VPD) and Madison Road/US-29 Business (14k VPD) less than a mile from UVA Culpeper Medical Center in Virginia (72 staffed beds). There are nearly 80,000 in population in a fifteen-mile radius and an average household income in excess of $107,000 annually within a five-mile radius.
The Tenant completed a comprehensive retrofit-to-suit renovation project in 2018 to the exact specifications of the Tenant and strategically selected this site to grow its presence in the market. Prior to the renovation, the Tenant executed a fifteen (15) year lease expiring September 30, 2033. The rent is currently $109,595 with a 12.5% increase scheduled for October 1, 2028, and the lease is NN with landlord responsibilities being limited to roof, structure, parking lot, and HVAC replacement.
DaVita, Inc. is one of the leading kidney care companies in the world with over 2,724 outpatient clinics in 46 states. It also offers acute inpatient dialysis services in approximately 850 hospitals and it guarantees this lease unconditionally.
In association with: Christopher Doerr - VA Lic. #225186980
The Property consists of 0.43 acres and a one-story, 6,227-square-foot medical office building that was built in 1995 and renovated to the exact specifications of the Tenant in 2018. The Property is located on Southridge Parkway in the South Ridge Office Park in between James Monroe Highway/US-29 Highway (20k VPD) and Madison Road/US-29 Business (14k VPD) less than a mile from UVA Culpeper Medical Center in Virginia (72 staffed beds). There are nearly 80,000 in population in a fifteen-mile radius and an average household income in excess of $107,000 annually within a five-mile radius.
The Tenant completed a comprehensive retrofit-to-suit renovation project in 2018 to the exact specifications of the Tenant and strategically selected this site to grow its presence in the market. Prior to the renovation, the Tenant executed a fifteen (15) year lease expiring September 30, 2033. The rent is currently $109,595 with a 12.5% increase scheduled for October 1, 2028, and the lease is NN with landlord responsibilities being limited to roof, structure, parking lot, and HVAC replacement.
DaVita, Inc. is one of the leading kidney care companies in the world with over 2,724 outpatient clinics in 46 states. It also offers acute inpatient dialysis services in approximately 850 hospitals and it guarantees this lease unconditionally.
In association with: Christopher Doerr - VA Lic. #225186980
Property Details
- Class
- C
- Year Built/Renovated
- 1995/2018
- Stories
- 1
- Property Subtype
- Medical
- Lot Size (sq. ft)
- 18,731 SF
Highlights
- Leading Operator with Strong Guarantee
- Growing Industry Insulated from Macroeconomic Changes
- Long-Term Lease with Rent Growth | 12.5% in 2028, 10% every 5 years in options
- Economical Rents and Passive Expense Structure
- Near Regional Hospital | UVA Culpeper Medical Ctr.
- Near Washington DC | +/- 60 miles to the northeast
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