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DaVita, Inc. (Leasehold) 1050 Old Camp Rd 6,453 SF Office Building The Villages, FL 32162 $3,053,464 ($473.19/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Dense Retail Corridor | The Villages Market Square: Lake Sumter Landing
- Income Tax-Free State
- Top MSA | Orlando 3rd Most Visited Metro in U.S.
- Leading Operator and Strong Guarantee | DaVita, Inc., S&P: BB, $12.14B Revenue
- Long-Term, Passive Lease with Rent Growth | 15-Year Base Term, 10% Every 5 Years
- High-Income Area | $89K Average HHI
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the leasehold interest (leased land, ownership of improvements) of a single-tenant medical office facility located in The Villages, Florida (the "Property").
The Property consists of 0.18 acres and a one-story, 6,453-square-foot medical office building that was built-to-suit in 2023 to the exact specifications of the Tenant. The Property is located in a prominent retirement community and is on leased land with 99 years of control provided to the future owner. The Property is located in the Creekside Medical Center and is very near all the major retail in The Villages. There are approximately 118,000 in population in a five-mile radius with an average household income in excess of $89,000 annually.
The Tenant recently completed a comprehensive build-to-suit to the exact standards of its brand-new prototype that is at the top end of the kidney care industry from a patient quality and energy-efficiency design standard. The initial term of the lease is for fifteen (15) years and will feature three (3), five (5) year renewal options. The lease is the Tenant’s standard form it uses across the majority of its 2,724 locations, a highly passive net lease that is landlord friendly, offering minimal expense exposure given the new construction. The lease also provides for rental increases in the amount of ten percent (10%) every five (5) years.
In association with: BJ Feller - FL Lic. #BK3504949
The Property consists of 0.18 acres and a one-story, 6,453-square-foot medical office building that was built-to-suit in 2023 to the exact specifications of the Tenant. The Property is located in a prominent retirement community and is on leased land with 99 years of control provided to the future owner. The Property is located in the Creekside Medical Center and is very near all the major retail in The Villages. There are approximately 118,000 in population in a five-mile radius with an average household income in excess of $89,000 annually.
The Tenant recently completed a comprehensive build-to-suit to the exact standards of its brand-new prototype that is at the top end of the kidney care industry from a patient quality and energy-efficiency design standard. The initial term of the lease is for fifteen (15) years and will feature three (3), five (5) year renewal options. The lease is the Tenant’s standard form it uses across the majority of its 2,724 locations, a highly passive net lease that is landlord friendly, offering minimal expense exposure given the new construction. The lease also provides for rental increases in the amount of ten percent (10%) every five (5) years.
In association with: BJ Feller - FL Lic. #BK3504949
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Medical
Building Size
6,453 SF
Building Class
B
Year Built
2022
Price
$3,053,464
Price Per SF
$473.19
Cap Rate
6.75%
NOI
$206,109
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,453 SF
Building FAR
0.79
Lot Size
0.19 AC
Parking
16 Spaces (2.48 Spaces per 1,000 SF Leased)
1 1
PROPERTY TAXES
| Parcel Number | D23-001-130 | Improvements Assessment | $914,030 |
| Land Assessment | $415,970 | Total Assessment | $1,330,000 |
PROPERTY TAXES
Parcel Number
D23-001-130
Land Assessment
$415,970
Improvements Assessment
$914,030
Total Assessment
$1,330,000
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DaVita, Inc. (Leasehold) | 1050 Old Camp Rd
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