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Single-Tenant Office Medical

DaVita

19800 Woodward Ave, Detroit, MI 48203

Listing Price: $2,013,371

Cap Rate
7.02%
Tenant Name
DaVita
Years Remaining On Lease
3.2
Guarantor
Subsidiary of a Corporation
Rentable SF
7,375
Lease Type
Double Net
Rent Per Square Feet
$19.16

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale this 7,375 square foot facility for DaVita Kidney Care. Located in Detroit, Michigan this attractive freestanding medical office building situated on 1.03 +/- acres was carefully site selected by DaVita. The tenant currently has three years and four months remaining on the most recent five-year lease extension. During the term of the lease there will be 1.50 percent annual rental increases. The strength of DaVita as the tenant with a guarantee from Total Renal Care, Inc. (DaVita’s second largest guarantor) allows for a stable, low risk investment. This facility has 21 dialysis stations. The tenant operates six days per week, approximately 75 hours per week for dialysis treatment. Located directly off of the historical Woodward Avenue the clinic benefits from daily traffic counts exceeding 23,600 VPD. Furthermore the building is located adjacent to the brand new $400 million, 3.8 million square-foot Amazon distribution development which is proposed to bring 1,200 new jobs to the area. The building is also located just down the street from a newer and active large retail development consisting of many national tenants including Chase, Meijer, Auto Zone, Planet Fitness, Starbucks etc.. Furthermore the tenant benefits from being located within close proximity to 10 plus assisted living facilities. It is also closely situated to the 484 bed Ascension Macomb Hospital, 576 bed Ascension Providence - Southfield Campus Hospital, 350 bed DMC Sinai Grace Hospital, and the 136 bed Henry Ford Kingswood Hospital creating great synergy for the tenant.

Investment Highlights

  • Three Years & Four Months Remaining on Double Net Lease with 1.50 Percent Annual Rental Increases
  • Strong Operating Hours - Six Days Per Week, Approximately 75 Hours Per Week
  • Two Five-Year Options to Renew
  • "BB Stable" Standard & Poor's Rated Corporate Parent - DaVita, Inc.
  • Limited Landlord Responsibilities - Double Net (NN) Lease

Exclusively Listed By

Single-Tenant Office Medical

DaVita

Listing Price: $2,013,371

Cap Rate
7.02%
Tenant Name
DaVita
Years Remaining On Lease
3.2
Guarantor
Subsidiary of a Corporation
Rentable SF
7,375
Lease Type
Double Net
Rent Per Square Feet
$19.16

Investment Highlights

  • Three Years & Four Months Remaining on Double Net Lease with 1.50 Percent Annual Rental Increases
  • Strong Operating Hours - Six Days Per Week, Approximately 75 Hours Per Week
  • Two Five-Year Options to Renew
  • "BB Stable" Standard & Poor's Rated Corporate Parent - DaVita, Inc.
  • Limited Landlord Responsibilities - Double Net (NN) Lease

Investment Overview

Marcus & Millichap has been exclusively retained to offer for sale this 7,375 square foot facility for DaVita Kidney Care. Located in Detroit, Michigan this attractive freestanding medical office building situated on 1.03 +/- acres was carefully site selected by DaVita. The tenant currently has three years and four months remaining on the most recent five-year lease extension. During the term of the lease there will be 1.50 percent annual rental increases. The strength of DaVita as the tenant with a guarantee from Total Renal Care, Inc. (DaVita’s second largest guarantor) allows for a stable, low risk investment. This facility has 21 dialysis stations. The tenant operates six days per week, approximately 75 hours per week for dialysis treatment. Located directly off of the historical Woodward Avenue the clinic benefits from daily traffic counts exceeding 23,600 VPD. Furthermore the building is located adjacent to the brand new $400 million, 3.8 million square-foot Amazon distribution development which is proposed to bring 1,200 new jobs to the area. The building is also located just down the street from a newer and active large retail development consisting of many national tenants including Chase, Meijer, Auto Zone, Planet Fitness, Starbucks etc.. Furthermore the tenant benefits from being located within close proximity to 10 plus assisted living facilities. It is also closely situated to the 484 bed Ascension Macomb Hospital, 576 bed Ascension Providence - Southfield Campus Hospital, 350 bed DMC Sinai Grace Hospital, and the 136 bed Henry Ford Kingswood Hospital creating great synergy for the tenant.

Exclusively Listed By

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