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Single-Tenant Office Medical

DaVita

652 Manila St, Lucedale, MS 39452

Listing Price: $1,075,000

Cap Rate
6.64%
Tenant Name
DaVita
Years Remaining On Lease
5.9
Guarantor
Subsidiary of a Corporation
Rentable SF
5,208
Lease Type
Double Net
Rent Per Square Feet
$13.71

Investment Overview

Marcus & Millichap is pleased to present this 5,208 square foot build-to-suit facility for DaVita. Located in Lucedale, Mississippi this attractive freestanding medical office building situated on 1.17 acres was carefully site selected by DaVita. The tenant currently has five years and eleven months remaining on the early executed five-year lease extension. Additionally, the lease features a rare responsibility structure, limiting Landlord responsibilities to roof and structure only while the tenant is solely responsible for HVAC, Parking Lot, and Operating Expenses. DaVita has been operating at this location since 1998. The strong historical occupancy paired with being located in a certificate of need (CON) state for dialysis, makes this critical care dialysis center property an excellent real estate opportunity. DaVita has two five-year options to renew with rental increases at the start of each option. This medical office building has been operating as a dialysis facility since April of 1998 proving a strong need for the treatment in this area. The next closest dialysis facility is located more than 26 miles away giving this location a strong demographic pull and market share. The clinic is situated within close proximity to two assisted living / nursing facilities which are located within Lucedale, Mississippi.

Investment Highlights

  • Five Years & Eleven Months Remaining on Early Lease Extension
  • Certificate of Need (CON) State for Dialysis - High Barriers to Entry
  • Population Growth of ~8.60% from 2010-2021 (10 Mile Radius)
  • Two Five-Year Options with Increases
  • DaVita, Inc. Parent - "BB Stable" Standard & Poor's Rated
  • Limited Landlord Responsibilities - Roof & Structure Only

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Single-Tenant Office Medical

DaVita

Listing Price: $1,075,000

Cap Rate
6.64%
Tenant Name
DaVita
Years Remaining On Lease
5.9
Guarantor
Subsidiary of a Corporation
Rentable SF
5,208
Lease Type
Double Net
Rent Per Square Feet
$13.71

Investment Highlights

  • Five Years & Eleven Months Remaining on Early Lease Extension
  • Certificate of Need (CON) State for Dialysis - High Barriers to Entry
  • Population Growth of ~8.60% from 2010-2021 (10 Mile Radius)
  • Two Five-Year Options with Increases
  • DaVita, Inc. Parent - "BB Stable" Standard & Poor's Rated
  • Limited Landlord Responsibilities - Roof & Structure Only

Investment Overview

Marcus & Millichap is pleased to present this 5,208 square foot build-to-suit facility for DaVita. Located in Lucedale, Mississippi this attractive freestanding medical office building situated on 1.17 acres was carefully site selected by DaVita. The tenant currently has five years and eleven months remaining on the early executed five-year lease extension. Additionally, the lease features a rare responsibility structure, limiting Landlord responsibilities to roof and structure only while the tenant is solely responsible for HVAC, Parking Lot, and Operating Expenses. DaVita has been operating at this location since 1998. The strong historical occupancy paired with being located in a certificate of need (CON) state for dialysis, makes this critical care dialysis center property an excellent real estate opportunity. DaVita has two five-year options to renew with rental increases at the start of each option. This medical office building has been operating as a dialysis facility since April of 1998 proving a strong need for the treatment in this area. The next closest dialysis facility is located more than 26 miles away giving this location a strong demographic pull and market share. The clinic is situated within close proximity to two assisted living / nursing facilities which are located within Lucedale, Mississippi.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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