DaVita in IN | 7-Year Corp (S&P: BB) NN
5,000 SF | Office Building | Tell City, IN 47586 | $1,400,000 ($280/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,400,000
- Property Type
-
Office
- Square Feet
- 5,000 SF
- Price / Square Foot
- $280
Listing Contacts
Susan Harris
Verified Profile
- Property Info
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, DaVita investment property located in Tell City, IN. The tenant, Davita, Inc., has had a long operating history at the site, and has 7 years remaining on their current lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features rare 2% yearly rental increases during the lease term and option periods, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities limited to maintaining roof, structure, and parking lot making it an ideal, low-management investment opportunity for a passive investor.
Davita, Inc is a creditworthy, publicly traded company (S&P: BB) with over 2,800 locations and 67,000 employees worldwide. The subject location is on the hard corner intersection of Steuben St and Main St (16,200 VPD). The site is equipped with a large pylon sign directly on the corner, providing excellent visibility to traffic and the surrounding area. Nearby national/credit tenants located in Tell City include Walmart, CVS, AT&T, Tractor Supply Co, O’Reilly Auto Parts, McDonalds, and more. DaVita is centrally located between the cities of Louisville, Evansville, Owensboro, and many other population centers, increasing their potential consumer base. The subject property is located less than 3 miles from Perry County Memorial Hospital, the largest medical facility in Perry County, IN. The 5-mile trade area is supported by over 13,800 residents and 8,100 employees, with an average household income of $72,800.
Davita, Inc is a creditworthy, publicly traded company (S&P: BB) with over 2,800 locations and 67,000 employees worldwide. The subject location is on the hard corner intersection of Steuben St and Main St (16,200 VPD). The site is equipped with a large pylon sign directly on the corner, providing excellent visibility to traffic and the surrounding area. Nearby national/credit tenants located in Tell City include Walmart, CVS, AT&T, Tractor Supply Co, O’Reilly Auto Parts, McDonalds, and more. DaVita is centrally located between the cities of Louisville, Evansville, Owensboro, and many other population centers, increasing their potential consumer base. The subject property is located less than 3 miles from Perry County Memorial Hospital, the largest medical facility in Perry County, IN. The 5-mile trade area is supported by over 13,800 residents and 8,100 employees, with an average household income of $72,800.
Property Details
- Class
- B
- Year Built
- 1996
- Stories
- 1
- Property Subtype
- Medical, Freestanding, Storefront Retail/Office, Office/Residential
- Lot Size (sq. ft)
- 12,632 SF
Highlights
- 7 Years Remaining | Corporate Guaranteed | Options to Extend Long Operating History
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Creditworthy Tenant (S&P: BB) | Centrally Located | Leading Provider of Kidney Care
- Nearby Perry County Memorial Hospital | National/Credit Tenant Presence
- Strong Demographics in 5-Mile Trade Area
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