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5240 W Lowell Ave
Spokane, WA 99208
DaVita | Abs NNN Leasehold · Office Property For Sale
Investment Highlights
- Over 9 Years Remaining | Corporate Signed Lease | Scheduled Rental Increases
- Sundance Plaza (134,000 SF) | Northpointe Plaza (456,000 SF) |Franklin Park (296,000 SF) | Dense Retail Corridor
- Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN leased, corporate signed,
DaVita investment property located in Spokane, WA. The tenant, Total Renal Care, Inc has over 9 years remaining on their lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in Feb 2031 as well as 10% increases at the beginning of each option, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an out of state investor.
DaVita investment property located in Spokane, WA. The tenant, Total Renal Care, Inc has over 9 years remaining on their lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in Feb 2031 as well as 10% increases at the beginning of each option, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Office
Property Subtype
Medical
Building Size
10,215 SF
Building Class
B
Year Built
2021
Price
$2,200,000
Price Per SF
$215.37
Cap Rate
7%
NOI
$153,898
Tenancy
Single
Building Height
1 Story
Typical Floor Size
10,215 SF
Building FAR
0.14
Lot Size
1.64 AC
Zoning
CC-2 - Community Commercial
Parking
49 Spaces (4.8 Spaces per 1,000 SF Leased)
Amenities
- Signage
Property Taxes
| Parcel Number | 26222.0158 | Improvements Assessment | $143,700 |
| Land Assessment | $299,880 | Total Assessment | $443,580 |
Property Taxes
Parcel Number
26222.0158
Land Assessment
$299,880
Improvements Assessment
$143,700
Total Assessment
$443,580
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