For Sale
$5,932,330

200 Wake AveEl Centro, CA 92243

12,997 SF Medical Office, 6.65% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 12,997-square-foot medical office building located at 200 Wake Ave, El Centro, CA 92243. The property boasts a strong 6.65% cap rate and a Net Operating Income (NOI) of $394,500. Built in 2009, the building is currently leased to Fresenius Medical Care, the world's largest provider of renal care, holding an S&P investment-grade credit rating of "BBB Stable." This lease, with a remaining term of 4.9 years, includes a corporate guarantee and features a built-in annual rent increase of 2.5%, offering inflation protection. Fresenius has occupied this strategically located property for over 16 years, recently extending their lease, demonstrating their long-term commitment. The building benefits from significant tenant improvements, minimizing future landlord responsibilities. Its prime location, just off Interstate 8 (34,036 VPD), ensures excellent patient access. The property's recession-resistant nature, coupled with the robust growth of the global dialysis services market (projected to reach $181.16 billion by 2032), makes this a compelling investment with significant long-term potential. The asking price is $5,932,330.

Highlights

  • Investment-grade tenant: Fresenius Medical Care, with an S&P BBB Stable credit rating.
  • Corporate guarantee from Fresenius Medical Care, a global leader in renal care.
  • Significant tenant improvements already completed, reducing landlord responsibilities.
  • Strong operational history: Tenant has occupied the property for over 16 years and recently extended their lease for 5 years.
  • Excellent location: Off Interstate 8, high traffic volume (34,036 VPD).
  • Recession-resistant property type: High demand for dialysis centers.

Property Details for 200 Wake Ave

Property type
Office properties, Medical offices
Square Feet
12,997 SF
Year Built
2009

Location Insight

City
El Centro
County
Imperial
State
California
Latitude
32.7716358
Longitude
-115.5453111
200 Wake Ave, El Centro, California

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200 Wake Ave
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