New SF Bay Area DaVita Kidney Care

  • Castro Valley CA
  • 96d48264b7e64176aacdbd59aada84ec
  • 7adef188ab62445fb0ac896cc385a581
  • 1aba40c65a464228a8580daecc846f54
  • f8ec3033fcc54c2e8b37d736d00907e9
  • f7d0c577621e4f7898399bc8ab884f3e

  $7,029,000 - Retail - Single Tenant, Healthcare
Cap Rate:  5%Size:  9,913 SFTerm:  15 Print

 Investment Offering & Highlights

  • Rare core San Francisco Bay Area single tenant net lease investment opportunity
  • New 15-year net lease with 10% rent increases every 5 years
  • Strong Fundamentals – relatively low annual rent per sq. ft. of $35.45
  • Strategically located in the heart of Castro Valley’s medical corridor adjacent to the 130-bed Sutter Health Eden Medical Center, serving Castro Valley, Hayward, Fremont and surrounding communities
  • Neighboring medical tenants include Bay Valley Medical Group (Stanford Health Care), Valley Medical Oncology Consultants (Stanford Health Care), Associated Orthopedic Surgeon and Bay Area Foot Care, to name a few
  • Less than a mile from the Castro Valley BART (Bay Area Rapid Transit) Station providing direct service to San Francisco, Oakland and Contra Costa County
  • Exceptional Demographics with over 333,500 residents within five miles and an average household income of $96,150 within one mile
  • DaVita, Inc. (NYSE:DVA) is one of the fastest growing companies on the Fortune 500 with a total stockholder’s equity of $4.69 billion and 2017 revenues of $10.88 billion
  • Warren Buffett’s Berkshire Hathaway owns a 23% stake in DaVita, it’s third largest holding by ownership percentage
  • DaVita treats 42% of all dialysis patients in the United States

Property Description

Cushman & Wakefield Net Lease Group is pleased to offer for sale a recently completed in 2018, 9,913± sq. ft. state-of-the-art medical office building with 33 onsite parking spaces. Leased to TOTAL RENAL CARE, INC., and guaranteed by DAVITA, INC. for 15 years from June 15, 2018 at an annual rent of $351,423, increasing 10% every 5 years throughout the primary term of the lease. There are two 5-year renewal options at 95% of appraised Fair Market Rent Value (FMRV). The lease is net with the tenant responsible for taxes, insurance and maintenance. The landlord is responsible for maintaining and replacing the roof, structure, exterior plumbing and electrical systems, and parking areas and driveways, and replacement of HVAC (not maintenance).
Please use the following link to access the full offering memorandum:
Property Location