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Single-Tenant Office

DaVita Dialysis, Podiatry Associates

1604 W 19th St, Ashtabula, OH 44004

Listing Price: $980,000

Cap Rate
7.05%
Tenant Name
DaVita Dialysis, Podiatry Associates
Years Remaining On Lease
6.3
Gross SF
7,500
Guarantor
Corporate Guarantee
Rentable SF
7,500
Price/Gross SF
$130.67
Lease Type
Double Net
Rent Per Square Feet
$9.59

Investment Overview

Marcus & Millichap is pleased to present a high-yield net-leased essential medical office investment opportunity in Ashtabula, Ohio. The facility is leased by DaVita Dialysis (NYSE: DVA), the leading provider of renal care in the United States. DaVita revenue is $11.48 Billion, credit rating of-S&P BB The location has been synonymous with providing important health services to the community for two decades. . The property contains 17 dialysis stations and operating 3 shifts M,W,F and 2 shifts T,TH,SAT . The property features a low rent per square foot, making this location attractive to the tenant and difficult to replace. As evidence to their commitment to this market, DaVita having been there since 1998. The city of Ashtabula Wilmington is located within the North East portion of the Ohio, 60 miles from Cleveland. The property is well located near several hospitals including Ashtabula Medical Center an affiliate of world renounced Cleveland Clinic. There are numerous other medical and senior living facilities in close proximity. DaVita Dialysis Renal data shows End Stage Renal Disease in the state of Ohio continuing to rise, further highlighting the importance of this treatment center in the years ahead. Podiatry Associates occupies 1500 square feet. Two Doctor work in the practice, and have been long term tenants going back 20 years. The Doctors are very highly regarded in the community. They maintain the highest level of accreditation and are abreast of the latest trends in the medical field.

Investment Highlights

  • 100 Percent Occupied Medical Center, Corporate Guaranty from DaVita Dialysis traded on NYSE symbol (DVA), 2% rent increases every year in current term and option periods, Close to several hospitals,
  • Below market rent, Operates 17 Dialysis Stations- 3 shifts M-W-F, 2 shifts T-TH-Sat. Long term tenant for 23 years, ease of management, 6 years remaining with 3 (5 year) options to extend.
  • Established client base serves over 210,000 patients nationally with 2,901 dialysis centers in the U.S., total revenue $11.49 Billion. Strong local leadership with 20 years operating local center.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

Single-Tenant Office

DaVita Dialysis, Podiatry Associates

Listing Price: $980,000

Cap Rate
7.05%
Tenant Name
DaVita Dialysis, Podiatry Associates
Years Remaining On Lease
6.3
Gross SF
7,500
Guarantor
Corporate Guarantee
Rentable SF
7,500
Price/Gross SF
$130.67
Lease Type
Double Net
Rent Per Square Feet
$9.59

Investment Highlights

  • 100 Percent Occupied Medical Center, Corporate Guaranty from DaVita Dialysis traded on NYSE symbol (DVA), 2% rent increases every year in current term and option periods, Close to several hospitals,
  • Below market rent, Operates 17 Dialysis Stations- 3 shifts M-W-F, 2 shifts T-TH-Sat. Long term tenant for 23 years, ease of management, 6 years remaining with 3 (5 year) options to extend.
  • Established client base serves over 210,000 patients nationally with 2,901 dialysis centers in the U.S., total revenue $11.49 Billion. Strong local leadership with 20 years operating local center.

Investment Overview

Marcus & Millichap is pleased to present a high-yield net-leased essential medical office investment opportunity in Ashtabula, Ohio. The facility is leased by DaVita Dialysis (NYSE: DVA), the leading provider of renal care in the United States. DaVita revenue is $11.48 Billion, credit rating of-S&P BB The location has been synonymous with providing important health services to the community for two decades. . The property contains 17 dialysis stations and operating 3 shifts M,W,F and 2 shifts T,TH,SAT . The property features a low rent per square foot, making this location attractive to the tenant and difficult to replace. As evidence to their commitment to this market, DaVita having been there since 1998. The city of Ashtabula Wilmington is located within the North East portion of the Ohio, 60 miles from Cleveland. The property is well located near several hospitals including Ashtabula Medical Center an affiliate of world renounced Cleveland Clinic. There are numerous other medical and senior living facilities in close proximity. DaVita Dialysis Renal data shows End Stage Renal Disease in the state of Ohio continuing to rise, further highlighting the importance of this treatment center in the years ahead. Podiatry Associates occupies 1500 square feet. Two Doctor work in the practice, and have been long term tenants going back 20 years. The Doctors are very highly regarded in the community. They maintain the highest level of accreditation and are abreast of the latest trends in the medical field.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    License(s): OH: BRK.2007005898

    Ohio

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