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DaVita San Francisco

2765 16th Street, San Francisco, CA
For Sale

Property Details

  • Price: $12,390,171
  • Property Type: Healthcare
  • Availability: Available
  • Transaction Type: For Sale
  • Building Size: 12,046 SF
  • Property Sub Type: Medical Office
  • Lease Type: NNN
  • Lease Term: 15 years
  • Building Class: A
  • Tenancy: Single Tenant
  • Available SF: 12,046 SF
  • Year Renovated: 2022
  • NOI: $650,484
  • Rent Bumps: 10% every five years
  • Option Periods: Three, 5-year

Property Description

-SECURE STREAM OF INCOME-

  • New Lease Term – New lease term with 14 years remaining, and the opportunity to exercise three, 5-year option periods upon expiration in September of 2037.
  • Attractive Rent Growth – 10% rent increases every five years of the original lease term. The first year of the option period will be raised to FMV and 2% annual rent increases will take place thereafter.
  • 2022 Renovation – Complete building renovation in 2022, including full seismic and structural upgrade, new roof (20-year transferrable warranty), new high-spec floor slab, new utilities & fire safety systems, new building facades, new storefront systems.
  • Corporate Guaranty – Corporate lease guaranty by DaVita, Inc., holding a Ba3 credit rating from Moody’s and an S&P credit rating of “BB”.
  • Secure Tenant – DaVita is a leading provider of dialysis treatment, ranking as one of the largest in the world. DaVita operates from 2,795 locations to provide care for over 205,000 patients per year. Revenues exceed $11.61B, proving substantial tenant security.
  • Recession Resistant – Healthcare related real estate has been the least affected by economic recession. During the weakened economy, dialysis tenants experienced very little disruption.

-EXCELLENT LOCATION-

  • Near World Renowned Hospital Campus – 1.5 miles from the newest campus of UCSF (University of California San Francisco) – UCSF Mission Bay, situated on a 60.2 AC research campus. The new facilities include a 289-bed hospital complex, with outpatient services that will integrate research and medical advancements with patient care. UCSF Medical Center at Mission Bay is on target to be one of the first LEED Gold certified hospitals in California, created in partnership with the City of San Francisco.
  • HIGH TRAFFIC CORRIDOR – DaVita is situated on a high traffic, east-west corridor (16th Street: 24,000 VPD) which travels directly into the famous yet growing neighborhood of Mission Bay, where UCSF Medical Campus, Chase Center, and Bayfront Park are located. 16th Street merges with both HWY 101 which commutes through all of California, and I-280 which commutes through the entirety of San Francisco.
  • Popular Area in Central San Francisco – Located in The Mission District which is considered as the most vibrant neighborhood in SF. It’s at the apex of all that is happening in the tech economy and culturally, including a trendy café culture, an eclectic mix of new developments, and classic, older San Francisco architecture. Additionally, its known for being extremely walkable, bike-able, and surrounded by accessible transportation such as two BART Stations, immediate freeway access, and bus lines.
  • Outstanding Demographics – The average household income is over $205,700 within a 1-mile radius of DaVita, whereas the population reaches over 885,200 residents within a 5-mile radius.

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Financial Summary

Investment Highlights

Price $0.00
Price / Unit $0.00
Gross Rent Multiplier 0.00
Proposed Loan Amount $0.00
Initial Investment $0.00

 

Income & Expenses

Income
Potential
Current

 

Expense
Potential
Current
Total Expenses
$ 0.00
$ 0.00
Net Operating Income $0.00 $0.00
Less Debt Service $0 $0
Potential Net Cash Flow $0.00 $0.00
Cash on Cash Return 0.00 % 0.00 %
Capitalization Rate 0.00 % 0.00 %

Rent Roll

Unit
BR/BA
Current Monthly Rent
Potential Monthly Rent
Status
Lease Expires

Totals

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$ 0.00

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