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Single-Tenant Office Medical

DaVita Dialysis w/ 3.56% Assumable Loan | Salt Lake City MSA | Life-Sustaining Kidney Healthcare

1250 W Sandalwood Dr, Lehi (Salt Lake City MSA), UT 84043

Listing Price: $4,600,000

Cap Rate
5.50%
Tenant Name
DaVita Dialysis
Years Remaining On Lease
9.4
Gross SF
7,002
Guarantor
Corporate Guarantee
Rentable SF
7,002
Price/Gross SF
$656.96
Lease Type
Double Net
Rent Per Square Feet
$36.12

Investment Overview

Lehi, Utah, is one of the fastest-growing cities in the state, strategically positioned along the Wasatch Front. Known as the gateway to Utah County, Lehi has evolved into a thriving hub for business, education, and recreation. Its prime location near Interstate 15 makes it a central point for commuters traveling between Salt Lake City to the north and Provo to the south.

The city has earned a reputation as a key player in Utah’s Silicon Slopes, housing major tech companies like Adobe, Ancestry.com, and Vivint. This influx of technology-driven businesses has bolstered the local economy and attracted a skilled workforce, contributing to a young, vibrant, and educated community.

Lehi’s population growth has been remarkable, nearly quadrupling since 2000, making it one of the fastest-expanding cities in the region. This rapid expansion has been fueled by its appealing mix of job opportunities, high-quality schools, and family-friendly neighborhoods. The city offers a mix of modern developments and historical charm, including landmarks like Thanksgiving Point, a sprawling complex featuring gardens, museums, and entertainment venues.

Nature and recreation play a significant role in Lehi’s appeal. The city is close to Utah Lake, offering opportunities for boating, fishing, and lakeside recreation. Nearby mountain trails and parks make it ideal for outdoor enthusiasts, providing year-round activities such as hiking, biking, and skiing. The Jordan River Parkway also runs through the area, connecting residents to miles of scenic walking and biking trails.

Lehi benefits from excellent connectivity due to its location along I-15, which serves as a major artery for regional commerce and travel. The city also has convenient access to two major airports: Salt Lake City International Airport and Provo Municipal Airport, enhancing its attractiveness as a business and residential hub.

Investment Highlights

  • Long Term Corporate Backed Lease Featuring 10% Rental Increase in 2029 and at Each Option. 2019 High Quality Construction. Favorable Assumable Financing - 3.56% Interest Rate.
  • DaVita features a S&P Credit Rating of "BB", a Moody's Rating of "Ba3" with Annual Revenues in Excess of $12.14B and Ranked #341 on Fortune 500.
  • Providing Life Sustaining Treatments for Dialysis Patients - DaVita is one of the Nations Leading Provider of Products and Services for People with Chronic Kidney Failure.
  • Features Easy Access & Excellent Visibility. Immediate Access to/from I-15 - boasts Prime Accessibility for Utah County's growing Population and Enhances Connectivity, making it an Ideal Location for Essential Services.
  • Densely Populated and Affluent Area: Features an Average Household Income of $143k+ within a 1-Mile Radius and more than 171k People Residing within a 5-Mile Radius. Lehi is among Fastest-Growing Cities in the Nation.
  • Minutes from Outlets at Traverse Mountain - a Premier Shopping destination with over 50 Brand-Name Stores, Scenic Mountain Views and Dining Options. It is the first and only Outlet in Utah County.
  • Near Intermountain Health Primary Children's Hospital - Opened in Feb. 2024, this Five-Story, 66-Bed Facility provides Comprehensive Pediatric Services, including Trauma and Emergency Care, Surgical Services, Imaging and more.
  • Walking Distance from CommonSpirit Holy Cross Hospital Mountain Point - a 40-Bed Full-Service Medical Center serving the Residents of Northern Utah County.

Broker of Record

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s) UT: 6250302-PB00

    Utah

Financing By

Single-Tenant Office Medical

DaVita Dialysis w/ 3.56% Assumable Loan | Salt Lake City MSA | Life-Sustaining Kidney Healthcare

Listing Price: $4,600,000

Cap Rate
5.50%
Tenant Name
DaVita Dialysis
Years Remaining On Lease
9.4
Gross SF
7,002
Guarantor
Corporate Guarantee
Rentable SF
7,002
Price/Gross SF
$656.96
Lease Type
Double Net
Rent Per Square Feet
$36.12

Investment Highlights

  • Long Term Corporate Backed Lease Featuring 10% Rental Increase in 2029 and at Each Option. 2019 High Quality Construction. Favorable Assumable Financing - 3.56% Interest Rate.
  • DaVita features a S&P Credit Rating of "BB", a Moody's Rating of "Ba3" with Annual Revenues in Excess of $12.14B and Ranked #341 on Fortune 500.
  • Providing Life Sustaining Treatments for Dialysis Patients - DaVita is one of the Nations Leading Provider of Products and Services for People with Chronic Kidney Failure.
  • Features Easy Access & Excellent Visibility. Immediate Access to/from I-15 - boasts Prime Accessibility for Utah County's growing Population and Enhances Connectivity, making it an Ideal Location for Essential Services.
  • Densely Populated and Affluent Area: Features an Average Household Income of $143k+ within a 1-Mile Radius and more than 171k People Residing within a 5-Mile Radius. Lehi is among Fastest-Growing Cities in the Nation.
  • Minutes from Outlets at Traverse Mountain - a Premier Shopping destination with over 50 Brand-Name Stores, Scenic Mountain Views and Dining Options. It is the first and only Outlet in Utah County.
  • Near Intermountain Health Primary Children's Hospital - Opened in Feb. 2024, this Five-Story, 66-Bed Facility provides Comprehensive Pediatric Services, including Trauma and Emergency Care, Surgical Services, Imaging and more.
  • Walking Distance from CommonSpirit Holy Cross Hospital Mountain Point - a 40-Bed Full-Service Medical Center serving the Residents of Northern Utah County.

Investment Overview

Lehi, Utah, is one of the fastest-growing cities in the state, strategically positioned along the Wasatch Front. Known as the gateway to Utah County, Lehi has evolved into a thriving hub for business, education, and recreation. Its prime location near Interstate 15 makes it a central point for commuters traveling between Salt Lake City to the north and Provo to the south. The city has earned a reputation as a key player in Utah’s Silicon Slopes, housing major tech companies like Adobe, Ancestry.com, and Vivint. This influx of technology-driven businesses has bolstered the local economy and attracted a skilled workforce, contributing to a young, vibrant, and educated community. Lehi’s population growth has been remarkable, nearly quadrupling since 2000, making it one of the fastest-expanding cities in the region. This rapid expansion has been fueled by its appealing mix of job opportunities, high-quality schools, and family-friendly neighborhoods. The city offers a mix of modern developments and historical charm, including landmarks like Thanksgiving Point, a sprawling complex featuring gardens, museums, and entertainment venues. Nature and recreation play a significant role in Lehi’s appeal. The city is close to Utah Lake, offering opportunities for boating, fishing, and lakeside recreation. Nearby mountain trails and parks make it ideal for outdoor enthusiasts, providing year-round activities such as hiking, biking, and skiing. The Jordan River Parkway also runs through the area, connecting residents to miles of scenic walking and biking trails. Lehi benefits from excellent connectivity due to its location along I-15, which serves as a major artery for regional commerce and travel. The city also has convenient access to two major airports: Salt Lake City International Airport and Provo Municipal Airport, enhancing its attractiveness as a business and residential hub.

Broker of Record

  • Adam Lewis

    First Vice President/Regional Manager

    (303) 328-2000

    License(s): UT: 6250302-PB00

    Utah

Financing By

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