FRESENIUS INVESTMENT
Office
for Sale
| Catylist Listing ID: |
30654875 |
| Property Subtypes: |
Medical, Net Leased
|
| Building Size (RSF): |
8,123 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.87 Acres
|
| Sale Price: |
$3,400,000 |
| Unit Price: |
$418.56 PSF |
| Property Use Type: |
Net Leased Investment (NNN), Investment |
| Class of Space: |
Class A |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
5.03% |
| Last Updated: |
10/8/2020 |
Overview / Comments
TRIO Commercial Property Group has been selected as the exclusive broker to sell this 8,138 SF, investment grade, corporate guaranteed, Fresenius Medical Care investment property located in New Albany, Indiana (Louisville, KY MSA). The tenant has over 13.5 years remaining in their initial term. The lease features 10% rental increases every five years throughout the initial term and option periods. The 15 year Lease commenced on June 1, 2019 and expires on May 31, 2034 with three – 5 year options to extend the Lease. The lease is corporate guaranteed by Fresenius Medical Care and is modified NNN with landlord responsibilities limited to roof, structure, and parking lot.
This facility is located off of Mt. Tabor Rd. (9,000 k ADT) and in close proximity to I-265 (41,000 ADT) in Northwestern Floyd County (New Albany) and has strong demographics with the population of 47,323 and an average household income of $70,420 within a 3-mile radius of the subject site.
Fresenius Medical Care has become one of the largest renal care platforms around the globe through its network of over 3,900 dialysis clinics. This state-of-the-art location was recently completed and features brand new, high quality construction.
|
Current Tenants
| Tenant Business Name |
Fresenius Medical Care |
| Website URL |
http://www.freseniuskidneycare.com |
| Industry Type |
Health Care and Social Assistance |
| Is Renting? |
Yes |
| SF of Space Occupied |
8,123 SF |
| Current Rent |
$172,243 PSF (Annual) |
| Lease Expiration |
4/2034 |
| Escalations |
10% every 5 years |
| Options |
3- 5 year options |
Additional Details
| Nearest MSA: |
Louisville/Jefferson County |
| County: |
Floyd |
| Tax ID/APN: |
22-05-02-300-090.000-008 |
| Zoning: |
IND |
| Property Visibility: |
Excellent |
| Year Built: |
2019 |
| Parking Type: |
Surface |
| Total Parking Spaces: |
35 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
8,101 |
49,944 |
111,912 |
| Median Age: |
37.61 |
38.12 |
38.44 |
| Households: |
3,322 |
20,612 |
45,291 |
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