|Gross Leasable Area (GLA)||7,500|
|Price Per Square Foot (GLA)||$ 324.00|
|Lot Size||1.14 Acres|
Marcus & Millichap is pleased to present this 7,500 square-foot brand new build-to-suit dialysis center located in St. Petersburg, FL. With 14 years remaining on the existing term of the lease and annual increases of 2 percent, an investor can expect to receive an average cap rate of 6.56 percent during the initial lease term and a 10-year leveraged IRR of over 8.50 percent.
This passive, net leased investment opportunity is leased to St. Petersburg Kidney Care South, LLC, a joint venture between American Renal Associates (S&P B Rated) and a group of well respected Nephrologists. The facility features 24 beds for use by dialysis patients ensuring efficient and timely treatment.