1232 Bristol StSanta Ana, CA 92704

This exceptional investment opportunity presents a fee-simple, Class A, 11,150-square-foot medical office building in Santa Ana, California. Currently 100% occupied by DaVita, a leading global dialysis provider with a Ba3/BB credit rating, under a Net Lease (NNN) agreement. The lease commenced February 16, 2018, and has a remaining term of 8.5 years, with three 5-year renewal options. The lease includes attractive 2% annual rent increases, ensuring consistent income growth. The property boasts a strong NOI of $445,763, resulting in a 5.50% cap rate. Situated on a 1.02-acre corner lot at a signalized intersection with high visibility (46,000 vehicles per day) and convenient freeway access, this location benefits from excellent demographics, with average household incomes exceeding $124,000 within a one-mile radius. Santa Ana's robust healthcare sector, representing 15% of its economic activity, further enhances the property's value. The building itself is a build-to-suit facility, featuring 24 dialysis stations, private offices, and dedicated spaces for support staff. The property's strategic location near several prestigious hospitals, including Providence St. Joseph Orange and UC Irvine Medical Center, solidifies its position within a thriving healthcare hub. The global dialysis market's projected growth to $138.7 billion by 2030 underscores the long-term stability and potential of this investment. This offering is ideal for a 1031 exchange.