Multi-Tenant Medical Office | Davita | 4802 Broadway
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Multi-Tenant Medical Office | Davita 4802 Broadway
13,125 SF 85% Leased Office Building Gary, IN 46408 $4,677,651 CAD ($356 CAD/SF) 7.81% Cap Rate
Investment Highlights
- Over 3 Year Remaining | Recent Lease Extension | Scheduled Rental Increases
- Direct Residential Consumer Base |Strong Demographics in 5-Mile Trade Area
- Hard Corner Intersection | National/Credit Tenant Presence | Methodist Hospital (491 Beds)
Executive Summary
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a two-tenant, medical center investment property located in Gary, IN (Chicago MSA). The property is divided into two suites with DaVita Dialysis currently occupying approximately 11,203 SF of the 13,125 SF leasable area, leaving approximately 1,922 SF vacant. The tenant, TRC – Indiana, LLC, recently extended their lease now has over 3 years year remaining in their lease term with 3 (5-years) option periods left to extend. The lease features 2% rental increases at the beginning of each option, growing growing NOI and hedging against inflation. Founded in 1994, DaVita Dialysis is one of the largest providers of kidney care in the U.S. and has been a leader in clinical quality and innovation for more than 20 years.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
13,125 SF
Building Class
B
Year Built
1992
Price
$4,677,651 CAD
Price Per SF
$356 CAD
Cap Rate
7.81%
NOI
$365,376 CAD
Percent Leased
85%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
13,125 SF
Building FAR
0.61
Lot Size
0.49 AC
Zoning
Business
Parking
14 Spaces (1.07 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Central Heating
- Reception
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PROPERTY TAXES
| Parcel Number | 45-08-33-283-016.000-004 | Improvements Assessment | $1,330,078 CAD |
| Land Assessment | $38,074 CAD | Total Assessment | $1,368,152 CAD |
PROPERTY TAXES
Parcel Number
45-08-33-283-016.000-004
Land Assessment
$38,074 CAD
Improvements Assessment
$1,330,078 CAD
Total Assessment
$1,368,152 CAD
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Multi-Tenant Medical Office | Davita | 4802 Broadway
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