For Sale
$2,249,280

1625 Unity WayWinter Haven, FL 33881

DaVita Dialysis, strong lease, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 6,416 square foot medical office building in Winter Haven, Florida, fully occupied by DaVita Dialysis under a modified triple-net (NNN) lease. The lease, guaranteed by DaVita Inc., a Fortune 500 company, boasts a remaining term of 7.4 years with two, five-year renewal options and a 10% rent increase every five years. The property, built in 1996 and extensively renovated in 2024, sits on a 0.81-acre lot and features one single-story building. The current annual net operating income (NOI) is $140,580, representing a 6.25% cap rate and a price per square foot of $350.57. The asking price is $2,249,280. Significant recent renovations, estimated at $433,000, included tenant improvements, HVAC replacement, plumbing and electrical upgrades, and parking lot repairs. The property enjoys a prime location near Highway 17, with high daily traffic counts, and benefits from strong demographics, including proximity to Winter Haven Hospital and LEGOLAND Florida. This offering provides a secure, long-term investment with a resilient tenant in a thriving Central Florida market. The lease's corporate guarantee and built-in rent escalations offer significant financial stability and growth potential. This is an ideal opportunity for investors seeking a low-risk, high-return investment in the healthcare sector.

Highlights

  • DaVita Dialysis (NYSE: DVA), a Fortune 500 company, occupies the property under a modified triple-net lease (NNN).
  • The property is leased to a leading kidney care provider with over 3,000 outpatient dialysis centers nationwide.
  • This investment offers a long-term lease with 7+ years remaining, plus options, and a 10% rental increase every 5 years.
  • Recent renovations totaling approximately $433,000 include tenant improvements, structural upgrades, and parking lot repairs. Landlord responsibilities are limited to structural roof elements and insurance (fully reimbursed by tenant).
  • The property enjoys a prime Central Florida location near Highway 17 (25,000+ VPD), Winter Haven Hospital (527 beds), and two rehabilitation centers. The 3-mile and 5-mile radii boast populations exceeding 56,464 and 115,667, respectively, with average household incomes of $65,000 (5-mile radius).
  • The lease is corporate-guaranteed by DaVita, Inc. (NYSE: DVA), a publicly traded company with a BB (S&P) credit rating, providing financial transparency and stability.

Property Details for 1625 Unity Way

Property type
Office properties, Medical offices
Square Feet
6,416 SF
Year Built/Renovated
1996/2024
Buildings
1
Stories
1
Lot Size (sq. ft)
35,284 SF
Units
1

Location Insight

City
Winter Haven
County
Polk
State
Florida
Latitude
28.038164665389
Longitude
-81.730945148207
1625 Unity Way, Winter Haven, Florida

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1625 Unity Way
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