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Single-Tenant Office Medical

Fresenius Home Therapy Clinic (Fresenius Medical Care)

918 Corunna Ave, Owosso, MI 48867

Listing Price: $1,816,526

Cap Rate
5.25%
Tenant Name
Bio-Medical Applications of Michigan, Inc.
Years Remaining On Lease
16.5
Guarantor
Corporate Guarantee
Rentable SF
5,074
Lease Type
Absolute Net
Rent Per Square Feet
$18.80

Investment Overview

The property is a Fresenius Home Therapy clinic subject to an original 20-year (17-years remaining) Absolute NNN lease with annual CPI rent increases (1% floor, 2% max). There are an additional three, 5-Year Renewal Option Periods. Unlike the standard dialysis center leases with significant Landlord responsibilities (such as roof, structure, parking lot and HVAC replacement), the Subject Property has an absolute NNN lease structure that provides an investor with a long-term, passive income stream with no landlord maintenance responsibilities whatsoever. The property currently operates as a Fresenius Home Therapy clinic that serves and trains patients to dialyize in their own homes. Dialyzing at home provides the opportunity for the patient to dialyze more frequently, usually for shorter times, and with flexibility in scheduling. There is no set time they have to show up, which allows for a better quality of life because they can set their own schedule. Patients graduate from the program when the nurse feels they are capable of providing their own care. Fresenius Medical Care Holdings, Inc., the Guarantor under the Lease, has been rated “BBB/Stable” by S&P and carries a rating of “Baa3/Stable” from Moody’s, which are both Investment Grade according to each agency’s credit rating scales.

Investment Highlights

  • Rare 20-Year (17 Years Remaining) Lease with Annual Rent Increases
  • Absolute NNN Lease
  • Home Therapy Clinic Location
  • Well-Established Location
  • Investment Grade Lease Guarantor

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Single-Tenant Office Medical

Fresenius Home Therapy Clinic (Fresenius Medical Care)

Listing Price: $1,816,526

Cap Rate
5.25%
Tenant Name
Bio-Medical Applications of Michigan, Inc.
Years Remaining On Lease
16.5
Guarantor
Corporate Guarantee
Rentable SF
5,074
Lease Type
Absolute Net
Rent Per Square Feet
$18.80

Investment Highlights

  • Rare 20-Year (17 Years Remaining) Lease with Annual Rent Increases
  • Absolute NNN Lease
  • Home Therapy Clinic Location
  • Well-Established Location
  • Investment Grade Lease Guarantor

Investment Overview

The property is a Fresenius Home Therapy clinic subject to an original 20-year (17-years remaining) Absolute NNN lease with annual CPI rent increases (1% floor, 2% max). There are an additional three, 5-Year Renewal Option Periods. Unlike the standard dialysis center leases with significant Landlord responsibilities (such as roof, structure, parking lot and HVAC replacement), the Subject Property has an absolute NNN lease structure that provides an investor with a long-term, passive income stream with no landlord maintenance responsibilities whatsoever. The property currently operates as a Fresenius Home Therapy clinic that serves and trains patients to dialyize in their own homes. Dialyzing at home provides the opportunity for the patient to dialyze more frequently, usually for shorter times, and with flexibility in scheduling. There is no set time they have to show up, which allows for a better quality of life because they can set their own schedule. Patients graduate from the program when the nurse feels they are capable of providing their own care. Fresenius Medical Care Holdings, Inc., the Guarantor under the Lease, has been rated “BBB/Stable” by S&P and carries a rating of “Baa3/Stable” from Moody’s, which are both Investment Grade according to each agency’s credit rating scales.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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