For Sale
$1,664,527

483 Gtwy Industrial Park DrJenkins, KY 41537

DaVita-Leased, 8% Cap Rate, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 5,524-square-foot medical office building in Jenkins, Kentucky, fully occupied by DaVita Dialysis under a net lease. The property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $133,162. The lease, commencing March 14, 2014, and expiring March 13, 2029, offers a remaining term of approximately 4.3 years, with two 5-year renewal options and 10% rent bumps every five years. The building, constructed in 2014, sits on a 1.017-acre lot and benefits from a corporate guaranty from DaVita Healthcare Partners Inc., providing significant financial security. Its strategic location just off US Highway 23 (8,455 VPD) ensures high visibility and accessibility. The area demonstrates limited competition, with the nearest competitor located over 20 miles away. Supporting businesses in the vicinity include Walgreens, Dollar General, Save A Lot, Hardee's, Marathon, and Valero. The property's strong tenant, DaVita, holds a 37% market share of the US dialysis industry, making this a resilient, recession-resistant investment. The average household income within a 7-mile radius is $53,982, further supporting the property's viability. DaVita's patient base is predominantly covered by government-based health insurance, adding to the investment's stability. This offering presents a compelling opportunity for investors seeking a secure, high-performing asset in a stable market. The asking price is $1,664,527, translating to a price per square foot of $301.33.

Highlights

  • $1,664,527 asking price for a 5,524 SF medical office building.
  • Net-leased to DaVita Dialysis, a publicly traded S&P 500 company (NYSE: DVA), with a corporate guaranty.
  • 100% occupancy with a remaining lease term of 4.3 years, expiring March 13, 2029, and two 5-year renewal options.
  • 8.00% cap rate and $133,162 annual net operating income (NOI).
  • Located in Jenkins, KY, on 1.017 acres, with 10% rent bumps every 5 years.

Property Details for 483 Gtwy Industrial Park Dr

Property type
Office properties, Medical offices
Square Feet
5,524 SF
Year Built
2014
Lot Size (sq. ft)
44,301 SF

Location Insight

City
Jenkins
County
Letcher
State
Kentucky
Latitude
37.1648727
Longitude
-82.6564941
483 Gtwy Industrial Park Dr, Jenkins, Kentucky

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
483 Gtwy Industrial Park Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message