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Value-Add DaVita Dialysis & Dunkin’ Center
8721 S Stony Is Ave, Chicago, IL 60617
Listing Price: $6,200,000
Investment Overview
Marcus & Millichap is pleased to exclusively present a DaVita Dialysis & Dunkin' anchored center, in a dense, infill Chicago location. Dunkin' operates on a corporate NNN ground lease with 15 years of firm term remaining, with 12.5% rental increases every five years. Dunkin' executed three of their five-year options in 2023, showing a strong commitment to the site. DaVita operates on a NN lease with 4.5 years of firm term remaining and and 2.75% annual rental increases. This DaVita is a high-volume in-center hemodialysis clinic, open six days a week, and is conveniently located within a Certificate of Need state for kidney dialysis treatment centers, limiting competition.
Dollar Tree's lease expires 5/31/2025, with the assumption Dollar Tree will not be renewing, creating the opportunity for an owner-user, developer, or investor to add value through utilizing, dividing, or leasing 16,128 square feet.
Subject property is situated in a dense, infill Chicago neighborhood with nearly 24,000 people living within one mile, and over 217,000 people within three miles.
Value-Add DaVita Dialysis & Dunkin’ Center
Investment Highlights
- DaVita Dialysis and Dunkin' Anchored Center | Value-Add Opportunity
- Dunkin' Operates on a Corporate NNN Ground Lease Out-lot with 15 Years of Firm Term Remaining | Scheduled 12.5% Rental Increases Every Five Years Including the Option Periods
- DaVita Operates on a Double Net-Lease with 4.5 Years of Firm Term Remaining | Scheduled 2.75% Annual Rental Increases Including the Option Periods
- Long Operating Tenants | Dunkin' has been at the Center Since 2004 and DaVita Since 2014
- High Volume In-Center Hemodialysis Clinic | Open Six Days a Week | Monday Through Saturday - Located Within a Certificate of Need State For Kidney Dialysis Treatment Centers
- Dunkin' Executed Three of Their Five-Year Options in 2023 Displaying a Strong Commitment to the Site
- Opportunity to Add Value Through Leasing 16,128 Vacant Square Feet (See OM for Details)
- Dense, Infill Chicago Location Nearly 24,000 People Live Within One Mile and 217,044 People Live Within Three Miles
Listing Price: $6,200,000
Investment Highlights
- DaVita Dialysis and Dunkin' Anchored Center | Value-Add Opportunity
- Dunkin' Operates on a Corporate NNN Ground Lease Out-lot with 15 Years of Firm Term Remaining | Scheduled 12.5% Rental Increases Every Five Years Including the Option Periods
- DaVita Operates on a Double Net-Lease with 4.5 Years of Firm Term Remaining | Scheduled 2.75% Annual Rental Increases Including the Option Periods
- Long Operating Tenants | Dunkin' has been at the Center Since 2004 and DaVita Since 2014
- High Volume In-Center Hemodialysis Clinic | Open Six Days a Week | Monday Through Saturday - Located Within a Certificate of Need State For Kidney Dialysis Treatment Centers
- Dunkin' Executed Three of Their Five-Year Options in 2023 Displaying a Strong Commitment to the Site
- Opportunity to Add Value Through Leasing 16,128 Vacant Square Feet (See OM for Details)
- Dense, Infill Chicago Location Nearly 24,000 People Live Within One Mile and 217,044 People Live Within Three Miles
Investment Overview
Marcus & Millichap is pleased to exclusively present a DaVita Dialysis & Dunkin' anchored center, in a dense, infill Chicago location. Dunkin' operates on a corporate NNN ground lease with 15 years of firm term remaining, with 12.5% rental increases every five years. Dunkin' executed three of their five-year options in 2023, showing a strong commitment to the site. DaVita operates on a NN lease with 4.5 years of firm term remaining and and 2.75% annual rental increases. This DaVita is a high-volume in-center hemodialysis clinic, open six days a week, and is conveniently located within a Certificate of Need state for kidney dialysis treatment centers, limiting competition. Dollar Tree's lease expires 5/31/2025, with the assumption Dollar Tree will not be renewing, creating the opportunity for an owner-user, developer, or investor to add value through utilizing, dividing, or leasing 16,128 square feet. Subject property is situated in a dense, infill Chicago neighborhood with nearly 24,000 people living within one mile, and over 217,000 people within three miles.
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