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Louisa, KY - Davita Dialysis
2145 KY-2565 | Louisa, KY 41230
$1,650,000
Price8.32%
Cap Rate$137,280
NOI6,240
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, corporate guaranteed, DaVita Dialysis, investment property located in Louisa, KY. The tenant, Total Renal Care, Inc., recently executed a rare 3-year extension providing for an initial term through 2024, and has 2 additional (5-year) option periods to extend. The lease features 10% rental increases at the beginning of each option period, generating NOI growth and hedging against inflation. The lease is corporate guaranteed and is NNN with landlord responsibilities limited to roof and structure.
Location
The subject property is located at the hard corner intersection of Old US 23/State Highway 2565 (8,100 VPD) and Hay Corners, with excellent visibility and multiple points of ingress and egress. The property has large amounts of highway frontage along Old US 23, a primary thoroughfare for the town of Louisa. Nearby national/credit tenants include a 24-hour Walmart Supercenter, Dollar General, Goody’s, Food City, AutoZone, and more, increasing consumer traffic to the area. DaVita benefits from limited competition in the area as one of two dialysis centers servicing the city of Louisa and all of its residents. The 10-mile trade area is supported by a population of nearly 18,000 residents with an average household income of $48,000.