Single-Tenant Office Medical

Fresenius Akron, OH Dialysis

199 Perkins St, Akron, OH 44304

Listing Price: $2,500,000

Cap Rate
6.48%
Tenant Name
Bio Medical Applications of Ohio, Inc.
Years Remaining On Lease
6.6
Gross SF
11,950
Rentable SF
11,950
Price/Gross SF
$209.21
Lease Type
Double Net
Rent Per Square Feet
$13.56

Investment Overview

Marcus & Millichap is pleased to present a net-leased essential medical office investment opportunity in Akron, Ohio. The property is one hundred percent occupied by Fresenius Medical Care (NYSE: FMS), the leading provider of renal care globally. The location has been, and continues to be, synonymous with providing life sustaining health services to the community for over two decades.United States Renal data shows End Stage Renal Disease (ESRD) in the state of Ohio continuing to rise, further highlighting the importance of this treatment center in the years ahead.

Fresenius Akron is a high-volume clinic containing 25 dialysis stations. The business operates three shifts a day, six days a week. The lease features a low rent per square foot, making it difficult to replace, and attractive three percent annual rent escalations as a hedge against inflation, beginning in 2024. As evidence to their commitment to this location, Fresenius extended their lease early for an additional five yearsmore than two years ahead of schedule. To mitigate future ownership expenses, the Landlord recently invested over $100,000 in capital improvements, including a roof replacement, new parking surface, and all new HVAC units.

The clinic has over 200 feet of direct exposure on the well-traveled Perkins Street, which benefits from over 20,600 vehicles per day. The property sits just North of Downtown Akron and is adjacent to the University of Akron campus immediately to the South. The area is renowned as a thriving medical corridor, as designated by the city of Akron, hosting two major hospital systems (Summa Health & Cleveland Clinic).

Investment Highlights

  • Recent Five-Year Lease Extension
  • Low Rent/SF at $13.56/ft.
  • 3% Annual Rental Increases Starting in 2024

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

Single-Tenant Office Medical

Fresenius Akron, OH Dialysis

Listing Price: $2,500,000

Cap Rate
6.48%
Tenant Name
Bio Medical Applications of Ohio, Inc.
Years Remaining On Lease
6.6
Gross SF
11,950
Rentable SF
11,950
Price/Gross SF
$209.21
Lease Type
Double Net
Rent Per Square Feet
$13.56

Investment Highlights

  • Recent Five-Year Lease Extension
  • Low Rent/SF at $13.56/ft.
  • 3% Annual Rental Increases Starting in 2024

Investment Overview

Marcus & Millichap is pleased to present a net-leased essential medical office investment opportunity in Akron, Ohio. The property is one hundred percent occupied by Fresenius Medical Care (NYSE: FMS), the leading provider of renal care globally. The location has been, and continues to be, synonymous with providing life sustaining health services to the community for over two decades.United States Renal data shows End Stage Renal Disease (ESRD) in the state of Ohio continuing to rise, further highlighting the importance of this treatment center in the years ahead.

Fresenius Akron is a high-volume clinic containing 25 dialysis stations. The business operates three shifts a day, six days a week. The lease features a low rent per square foot, making it difficult to replace, and attractive three percent annual rent escalations as a hedge against inflation, beginning in 2024. As evidence to their commitment to this location, Fresenius extended their lease early for an additional five yearsmore than two years ahead of schedule. To mitigate future ownership expenses, the Landlord recently invested over $100,000 in capital improvements, including a roof replacement, new parking surface, and all new HVAC units.

The clinic has over 200 feet of direct exposure on the well-traveled Perkins Street, which benefits from over 20,600 vehicles per day. The property sits just North of Downtown Akron and is adjacent to the University of Akron campus immediately to the South. The area is renowned as a thriving medical corridor, as designated by the city of Akron, hosting two major hospital systems (Summa Health & Cleveland Clinic).

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

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