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Single-Tenant Office Medical

Fresenius

1922 Tappahannock Blvd, Tappahannock, VA 22560

Listing Price: $1,866,800

Cap Rate
6.47%
Tenant Name
Fresenius
Years Remaining On Lease
6.2
Guarantor
Subsidiary of a Corporation
Rentable SF
5,616
Lease Type
Double Net
Rent Per Square Feet
$21.50

Investment Overview

Marcus & Millichap is pleased to present this 5,616 square foot facility for Fresenius Kidney Care. Located in Tappahannock, Virginia this attractive medical office building was carefully site selected by Fresenius. The double net (NN) lease currently has six years and three months remaining on the recent, early executed five-year lease extension with 2.50 percent annual rental increases commencing August 1, 2024. In addition, the tenant has three five-year renewal options and has been operating at this location since April of 1991 showing strong historical occupancy and commitment to the site. This Fresenius dialysis clinic benefits from being situated approximately one mile from the 67 bed VCU Tappahannock Hospital. Located off of Church Lane the clinic see daily traffic counts of approximately 22,000 vehicles per day. The clinic is strategically located within close access to Richmond Highway and Tidewater Trail which run southwest to Richmond, Virginia and Southeast to Newport News, Virginia respectively. Tappahannock is the oldest town in Essex County, Virginia. Located on the Rappahannock River, Tappahannock is the county seat of Essex County. Essex County is a county located in the middle peninsula of Virginia. Fresenius is the premier provider of dialysis services in the United States. Through their Fresenius Medical Services company, they operate more than 3,928 outpatient dialysis clinics in more than 50 countries. In fiscal year 2018 Fresenius did $16.6 Billion in sales and had a net worth of $12.9 Billion. Fresenius Medical Care is the worlds largest integrated provider of products and services for individuals undergoing dialysis due to chronic kidney failure, a condition that affects more than 2,776,000 individuals worldwide. Through its network of 3,928 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius Medical Care provides dialysis treatment to 336,000 patients around the globe. Fresenius Medical Care is also the worlds leading provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products. Fresenius Medical Care AG & Co. is listed on the Frankfurt Stock Exchange (FME, FME3) and the New York Stock Exchange (FMS, FMS/P).

Investment Highlights

  • Fresenius just Extended Early for a Five-Year Renewal - Six Years & Three Months Remaining
  • Fresenius has been Operating at this Location since April 1991
  • 2.50% Annual Rental Increases beginning August 1, 2024
  • Renovated in 2012
  • Minimal Landlord Responsibilities - Double Net (NN) Lease
  • Strategically Located Near Richmond Highway & Tidewater Trail - Easy Ingress / Egress for Patients & Employees
  • Three Five-Year Options to Renew

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Single-Tenant Office Medical

Fresenius

Listing Price: $1,866,800

Cap Rate
6.47%
Tenant Name
Fresenius
Years Remaining On Lease
6.2
Guarantor
Subsidiary of a Corporation
Rentable SF
5,616
Lease Type
Double Net
Rent Per Square Feet
$21.50

Investment Highlights

  • Fresenius just Extended Early for a Five-Year Renewal - Six Years & Three Months Remaining
  • Fresenius has been Operating at this Location since April 1991
  • 2.50% Annual Rental Increases beginning August 1, 2024
  • Renovated in 2012
  • Minimal Landlord Responsibilities - Double Net (NN) Lease
  • Strategically Located Near Richmond Highway & Tidewater Trail - Easy Ingress / Egress for Patients & Employees
  • Three Five-Year Options to Renew

Investment Overview

Marcus & Millichap is pleased to present this 5,616 square foot facility for Fresenius Kidney Care. Located in Tappahannock, Virginia this attractive medical office building was carefully site selected by Fresenius. The double net (NN) lease currently has six years and three months remaining on the recent, early executed five-year lease extension with 2.50 percent annual rental increases commencing August 1, 2024. In addition, the tenant has three five-year renewal options and has been operating at this location since April of 1991 showing strong historical occupancy and commitment to the site. This Fresenius dialysis clinic benefits from being situated approximately one mile from the 67 bed VCU Tappahannock Hospital. Located off of Church Lane the clinic see daily traffic counts of approximately 22,000 vehicles per day. The clinic is strategically located within close access to Richmond Highway and Tidewater Trail which run southwest to Richmond, Virginia and Southeast to Newport News, Virginia respectively. Tappahannock is the oldest town in Essex County, Virginia. Located on the Rappahannock River, Tappahannock is the county seat of Essex County. Essex County is a county located in the middle peninsula of Virginia. Fresenius is the premier provider of dialysis services in the United States. Through their Fresenius Medical Services company, they operate more than 3,928 outpatient dialysis clinics in more than 50 countries. In fiscal year 2018 Fresenius did $16.6 Billion in sales and had a net worth of $12.9 Billion. Fresenius Medical Care is the worlds largest integrated provider of products and services for individuals undergoing dialysis due to chronic kidney failure, a condition that affects more than 2,776,000 individuals worldwide. Through its network of 3,928 dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, Fresenius Medical Care provides dialysis treatment to 336,000 patients around the globe. Fresenius Medical Care is also the worlds leading provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products. Fresenius Medical Care AG & Co. is listed on the Frankfurt Stock Exchange (FME, FME3) and the New York Stock Exchange (FMS, FMS/P).

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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