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Office Medical

DaVita | Low T - Value Add

2320 Knob Creek Rd, Johnson City, TN 37604

Listing Price: $1,750,000

Cap Rate
7.50%
Gross SF
9,217
Rentable SF
9,217
Price/Gross SF
$189.87
Occupancy
58.0%
Year Built
2015
Lot Size
1.01 acres

Investment Overview

The asset is a, 9,217 square foot medical condo office building within Johnson City, Tennessee and located in the Kingsport Metro region (which straddles the Tennessee-Kentucky border) . The fifty eight percent occupied building consists of two tenants and unoccupied raw space. Both tenants utilize the space to provide healthcare treatments for the community. The anchor tenant, DaVita Dialysis, occupies approximately thirty four percent of the property as a dialysis treatment center. Low T leases twenty four percent of the space to provide a number of testosterone, hormone, and other treatment services for men. The remaining forty two percent of building currently stands as unoccupied raw space for a future owner to develop and add additional value.

Investment Highlights

  • Property Consists of Two Tenants, Low T Will Execute a Ten Year Sale-Leaseback; DaVita has Five Years Remaining on Their Original Lease and 3,5 Year Extensions
  • Credit Tenant in DaVita Dialysis (Moody's Ba2/S&P BB), Low T is a Growing Men's Healthcare Company with 47 Locations in 11 States
  • Significant Upside In 3,850 Square Foot Vacant Shell Space, Priced at $120 Per Square Foot

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

Office Medical

DaVita | Low T - Value Add

Listing Price: $1,750,000

Cap Rate
7.50%
Gross SF
9,217
Rentable SF
9,217
Price/Gross SF
$189.87
Occupancy
58.0%
Year Built
2015
Lot Size
1.01 acres

Investment Highlights

  • Property Consists of Two Tenants, Low T Will Execute a Ten Year Sale-Leaseback; DaVita has Five Years Remaining on Their Original Lease and 3,5 Year Extensions
  • Credit Tenant in DaVita Dialysis (Moody's Ba2/S&P BB), Low T is a Growing Men's Healthcare Company with 47 Locations in 11 States
  • Significant Upside In 3,850 Square Foot Vacant Shell Space, Priced at $120 Per Square Foot

Investment Overview

The asset is a, 9,217 square foot medical condo office building within Johnson City, Tennessee and located in the Kingsport Metro region (which straddles the Tennessee-Kentucky border) . The fifty eight percent occupied building consists of two tenants and unoccupied raw space. Both tenants utilize the space to provide healthcare treatments for the community. The anchor tenant, DaVita Dialysis, occupies approximately thirty four percent of the property as a dialysis treatment center. Low T leases twenty four percent of the space to provide a number of testosterone, hormone, and other treatment services for men. The remaining forty two percent of building currently stands as unoccupied raw space for a future owner to develop and add additional value.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    Vice President / Regional Manager

    License(s): TN: 307629

    Tennessee

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