Investment Overview

Marcus & Millichap has been exclusively selected to market for sale the stand-alone medical facility at 198 Ponderosa Road #A in Colville, WA, which is currently leased by DaVita who recently sub-leased the entire property to Monumental Chiropractic. Although the property was built in 2002, it underwent a Build to Suit redevelopment for DaVita in 2015, which involved significant upgrades and improvements to the building and its systems. The 6,043 square foot building is situated on 1.28 acres and benefits from exposure and accessibility to Highway 395, the primary north/south arterial connecting Colville to Spokane. Additionally, the property benefits from its proximity to Providence Mount Carmel Hospital as well as several assisted living and senior living facilities. The corporate guaranteed lease has over 6 years remaining on the initial term and requires minimal landlord responsibilities. The tenant is responsible for direct payment of real estate taxes, insurance, and utilities; and must reimburse for nearly all repairs and capital expenditures. See Lease Abstract for details. Moreover, the lease offers scheduled 10% rent increases every 5 years, with the next rent increase occurring in 2025.