1212 Wilshire Blvd, Los Angeles, CA 90017
8,007 SF | Office Building | Los Angeles, CA 90017 | $4,950,000 ($618/SF) | 5.70% Cap Rate
For Sale
Active
5 pictures
Asking Price $4,950,000
- Property Type
-
Office
- Square Feet
- 8,007 SF
- Price / Square Foot
- $618
Listing Contacts
Will Adams
Property Overview
Newmark is pleased to present the opportunity to acquire a single-tenant DaVita Dialysis medical clinic in Los Angeles. This property features a corporate-backed triple-net (NNN) lease from a Fortune 500 healthcare company, which has operated at this location since 1995.
According to DaVita’s 2023 Year-End Annual Report, the company now boasts over 2,850 locations globally with a workforce of 70,000 employees. DaVita generated $12.8 billion in annual revenue and holds $16.9 billion in total assets, underscoring its financial strength and stability as a tenant.
This strategic asset is positioned adjacent to the major regional PIH Health Good Samaritan Hospital, allowing the clinic to benefit from proximity to a steady stream of patients, visitors, and medical professionals. The property’s location in the thriving Westlake submarket of Los Angeles also offers excellent connectivity, with convenient access to major freeways and public transit options.
The long-term NNN lease with DaVita features several favorable terms for investors, including: a 10-year lease extension through October 2035, 5% rental rate increases every 5 years, and two additional 5-year renewal options at FMV.
With DaVita’s robust financial profile, the property’s strategic medical location, and the attractive lease structure, this single-tenant dialysis clinic represents a compelling net lease investment opportunity in the dynamic Los Angeles market.
According to DaVita’s 2023 Year-End Annual Report, the company now boasts over 2,850 locations globally with a workforce of 70,000 employees. DaVita generated $12.8 billion in annual revenue and holds $16.9 billion in total assets, underscoring its financial strength and stability as a tenant.
This strategic asset is positioned adjacent to the major regional PIH Health Good Samaritan Hospital, allowing the clinic to benefit from proximity to a steady stream of patients, visitors, and medical professionals. The property’s location in the thriving Westlake submarket of Los Angeles also offers excellent connectivity, with convenient access to major freeways and public transit options.
The long-term NNN lease with DaVita features several favorable terms for investors, including: a 10-year lease extension through October 2035, 5% rental rate increases every 5 years, and two additional 5-year renewal options at FMV.
With DaVita’s robust financial profile, the property’s strategic medical location, and the attractive lease structure, this single-tenant dialysis clinic represents a compelling net lease investment opportunity in the dynamic Los Angeles market.
Property Details
- Class
- C
- Year Built
- 1960
- Stories
- 2
- Property Subtype
- Medical
Highlights
- Long term 10 year lease, Tenant recently extended their Lease for an additional 10 Years
- 5% rental increases every five (5) years during term
- Strong corporate guarantee in place
- Long term operating history at location since 1995
- Absolute NNN lease. All taxes, insurance, & common area maintenance expense is passed through to tenant
- Long term security and stability for the investor
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