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1675 Alex Dr 6,020 SF Office Building Wilmington, OH 45177 $1,265,585 ($210.23/SF) 7% Cap Rate
Investment Highlights
- Offered at $1,265,585 with a 7.00% capitalization rate
- Contractual 2% annual rent increases provide consistent income growth
- Owner is responsible only for the roof and structure
- Generates $88,591 in annual Net Operating Income
- Three 5-year renewal options extend the opportunity for continued tenancy
- Occupied by DaVita, a leading provider of life-sustaining dialysis treatments
Executive Summary
Fortis Net Lease is pleased to present the opportunity to acquire a single-tenant DaVita dialysis facility located at 1675 Alex Drive in Wilmington, Ohio. The property consists of a 6,020-square-foot medical office building situated on 1.36 acres and is offered at $1,265,585, representing an attractive 7.00% capitalization rate. The asset generates an annual Net Operating Income of $88,591 and is leased to DaVita, one of the nation's leading providers of kidney dialysis services. The lease extends through October 1, 2029 and features 2% annual rent increases, providing investors with predictable income growth throughout the remaining lease term.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,020 SF
Building Class
C
Year Built
2001
Price
$1,265,585
Price Per SF
$210.23
Cap Rate
7%
NOI
$88,591
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,963 SF
Building FAR
0.10
Lot Size
1.36 AC
Zoning
C-1 - Commercial
Parking
30 Spaces (4.98 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Property Taxes
| Parcel Number | 290-17-01-18-A002-00 | Improvements Assessment | $271,880 |
| Land Assessment | $62,130 | Total Assessment | $334,010 |
Property Taxes
Parcel Number
290-17-01-18-A002-00
Land Assessment
$62,130
Improvements Assessment
$271,880
Total Assessment
$334,010
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Contact the Sale Advisor
1675 Alex Dr