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Humble, TX - DaVita Dialysis

5414 Farm to Market 1960 Road E | Atascocita, TX 77346

$4,582,000

Price

5.25%

Cap Rate

$240,570

NOI

8,910

± SF Offering GLA

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, freestanding, DaVita Dialysis investment property located in Atascocita, Texas (Houston MSA). The lease is guaranteed by DaVita Healthcare Partners Inc., a wholly owned subsidiary of DaVita Inc. The tenant, Sloss Dialysis, LLC, has recently signed an early lease extension and now has approximately 11 years remaining in their initial term with 2 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1994, DaVita Dialysis is one of the largest providers of kidney care in the U.S. and has been a leader in clinical quality and innovation for more than 20 years.

Location

DaVita Dialysis is strategically located at the signalized, hard corner intersection of Farm to Market Road 1960 and Timber Forest Drive, serving a combined 54,000 vehicles per day. FM 1960 spans over 45 miles and is one of the very few FM roads with a business segment, which runs through the middle of Humble, TX. Located in a dense retail corridor, DaVita Dialysis is within close proximity to multiple national/credit tenants including Walmart Supercenter, Target, Lowes, Kroger, TJ Maxx, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is ideally positioned adjacent to the Wentworth Senior Apartments, a 90-unit 4-story apartment community, providing seniors in need of treatment the luxury of walking to and from appointments. The 5-mile trade area is supported by more than 170,000 residents and 50,000 daytime employees. Residents with in a 3-mile radius boast an affluent average income of $120,000.

Documents & Links

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Offering Memorandum

Contact

Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215