Single-Tenant Office Medical
DaVita Dialysis - Coral Gables
3280 Ponce de Leon, Coral Gables, FL 33134
Listing Price: $11,000,000
Investment Overview
Marcus & Millichap is pleased to present 3280 Ponce De Leon Blvd in Coral Gables, a rarely available freestanding medical office building with ample parking and development rights. Situated on a ±20,157 square foot land parcel, it features a fully occupied building of ±14,630 Sq. Ft. The building is home to DaVita Dialysis Center, a wholly-owned subsidiary of DaVita Inc. (NYSE: DVA), a leading healthcare provider with a strong corporate guarantee (S&P rating: BB). Originally occupied in 1994 by HealthSouth Kidney Care, Davita took possession in 2006. Thereafter, the building underwent significant renovations at the tenants' sole cost and expense including a new elevator, impact windows, HVAC's, boiler system, electrical, plumbing, and updated interior configurations. Additionally, Davita completed the building re-certification in 2021.
Located on Ponce de Leon Boulevard, one of Coral Gables’ busiest commercial corridors, the property benefits from excellent visibility and proximity to key business and retail hubs. Situated within four blocks of The Plaza, The newly developed 7-acre mixed-use project spans 2.3 million Sq. Ft and includes luxury office spaces, with high-profile tenants that include Apple and FIFA. The development also features retail outlets, residential apartments, townhomes, and the Five-star Loew's hotel, offering a blend of upscale living, business, and shopping amenities. The property is situated less than half a mile from Miracle Mile which serves as the city's downtown area. The iconic shopping district is renowned for its high-end boutiques, fine dining, and vibrant cultural attractions. Additionally, the property is located just north of the Village of Merrick Park, a prestigious open-air shopping and lifestyle destination featuring luxury brands, gourmet restaurants, and upscale residential options.
This investment opportunity offers not only a stable, long-term tenant in DaVita Inc. but also the advantage of a future redevelopment or repositioning of the building at market rent. The MX-1 zoning allows for 125 units per acre which would Allow for 57 multifamily units and Four stories in Height.
DaVita Dialysis - Coral Gables
Investment Highlights
- Located in Coral Gables, one of Miami's most prestigious and sought-after neighborhoods, the property is within blocks of Merrick Park and The Plaza, a 7-acre complex spanning 2.3 million square feet.
- Originally occupied in 1994 by HealthSouth Kidney Kare, DaVita Dialysis took possession in 2006 and invested over $1,000,000 in upgrades, featuring a new elevator, impact windows, HVAC's.
- Rarely available freestanding medical office building in Coral Gables with below market rent and ample parking able to service ambulatory patients (34 on-site spaces + 11 off-site).
- DaVita Dialysis is a nationally recognized healthcare provider with over 2,800 locations throughout the Country (NYSE: DVA), their recent capital investment in the building highlights their vested interest in this location.
- Coral Gables is experiencing an increasing demand for healthcare services, driven by an aging population and affluent demographics, with 20% of its residents aged 65 and older.
- Healthy annual rental increases throughout the term of the lease to hedge against inflation.
- Development potential: MX1 zoning allows for 125 units per acre or 57 units as of right.
- Affluent & dense area: average household income of $229,653 | population exceeds 23,000 within a 1-mile radius.
Exclusively Listed By
Financing By
Single-Tenant Office Medical
DaVita Dialysis - Coral Gables
Listing Price: $11,000,000
Investment Highlights
- Located in Coral Gables, one of Miami's most prestigious and sought-after neighborhoods, the property is within blocks of Merrick Park and The Plaza, a 7-acre complex spanning 2.3 million square feet.
- Originally occupied in 1994 by HealthSouth Kidney Kare, DaVita Dialysis took possession in 2006 and invested over $1,000,000 in upgrades, featuring a new elevator, impact windows, HVAC's.
- Rarely available freestanding medical office building in Coral Gables with below market rent and ample parking able to service ambulatory patients (34 on-site spaces + 11 off-site).
- DaVita Dialysis is a nationally recognized healthcare provider with over 2,800 locations throughout the Country (NYSE: DVA), their recent capital investment in the building highlights their vested interest in this location.
- Coral Gables is experiencing an increasing demand for healthcare services, driven by an aging population and affluent demographics, with 20% of its residents aged 65 and older.
- Healthy annual rental increases throughout the term of the lease to hedge against inflation.
- Development potential: MX1 zoning allows for 125 units per acre or 57 units as of right.
- Affluent & dense area: average household income of $229,653 | population exceeds 23,000 within a 1-mile radius.
Investment Overview
Marcus & Millichap is pleased to present 3280 Ponce De Leon Blvd in Coral Gables, a rarely available freestanding medical office building with ample parking and development rights. Situated on a ±20,157 square foot land parcel, it features a fully occupied building of ±14,630 Sq. Ft. The building is home to DaVita Dialysis Center, a wholly-owned subsidiary of DaVita Inc. (NYSE: DVA), a leading healthcare provider with a strong corporate guarantee (S&P rating: BB). Originally occupied in 1994 by HealthSouth Kidney Care, Davita took possession in 2006. Thereafter, the building underwent significant renovations at the tenants' sole cost and expense including a new elevator, impact windows, HVAC's, boiler system, electrical, plumbing, and updated interior configurations. Additionally, Davita completed the building re-certification in 2021. Located on Ponce de Leon Boulevard, one of Coral Gables’ busiest commercial corridors, the property benefits from excellent visibility and proximity to key business and retail hubs. Situated within four blocks of The Plaza, The newly developed 7-acre mixed-use project spans 2.3 million Sq. Ft and includes luxury office spaces, with high-profile tenants that include Apple and FIFA. The development also features retail outlets, residential apartments, townhomes, and the Five-star Loew's hotel, offering a blend of upscale living, business, and shopping amenities. The property is situated less than half a mile from Miracle Mile which serves as the city's downtown area. The iconic shopping district is renowned for its high-end boutiques, fine dining, and vibrant cultural attractions. Additionally, the property is located just north of the Village of Merrick Park, a prestigious open-air shopping and lifestyle destination featuring luxury brands, gourmet restaurants, and upscale residential options. This investment opportunity offers not only a stable, long-term tenant in DaVita Inc. but also the advantage of a future redevelopment or repositioning of the building at market rent. The MX-1 zoning allows for 125 units per acre which would Allow for 57 multifamily units and Four stories in Height.
Exclusively Listed By
Financing By
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