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CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe
233 I -45N, CONROE, TX 77304
DaVita DialysisC O N R O E
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe
Unlike other DaVita leases, there
are no landlord responsibilities for:
HVAC, irrigation, landscaping, roof
repair, parking lot and sidewalk area.
New roof installed in 2015.
OFFERING TERMSPurchase Price: $3,225,527
Cap Rate: 5.50%
Net Operating Income: $177,404
Broker Fee: 2.00%
PROPERTY INFORMATIONAddress: 233 I-45N, Conroe, TX 77304
Property ID: R44149
Legal: A0289 – James Denward,
Tract,1-C, Acres 1.16
Location: 1 Block South of the Intersection
of IH 45N & Hwy 105
Year Remodeled: 2015
Land Size: 1.16 Acres
Building Size: 8,200 SF
Tenant: DaVita HealthCare
Expenses: Tenant Self-Maintains and Pays
100% of Expenses
Parking: 41 Parks
Traffic Counts: 112,200 VPD (TXDOT 2016)
EXECUTIVE SUMMARY
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis ConroeOVERVIEW:The Conroe DaVita Dialysis Clinic is a 2015 build-to-suit state-of-the-art dialysis facility with 16 patient stations. It was remodeled in 2015 as a relocation and combination of (2) smaller dialysis clinics in the Conroe area. It sits about 1.5 north of Conroe Regional Medical Center.
BUILDING HIGHLIGHTS: (2015 REMODEL)New roof, roof drains and roof scupper system. All new plumbing, electrical, mechanical and back-up generator to meet DaVita’s needs. Interior remodeled to the studs. Concrete parking lot repairs, irrigation upgraded, landscaping & tree work. Waterproof bladder system with door dams installed for possible flooding.
EXCELLENT LOCATION ON INTERSTATE:The subject property is located in the SWQ of I-45 N & Hwy 105 in central Conroe. Excellent Ingress & Egress onto the Interstate feeder road.
TENANT PROFILE:The tenant, Renal Treatment Centers-Southeast, L.P. operates as a subsidiary of DaVita Healthcare Partners Inc. DaVita Healthcare Partners is a publicly traded Fortune 500 company on the NYSE. Ticker “DVA”. The 10-year Primary Term lease has scheduled increases annually of 1.5% including the (3) 5-Year option periods.
CONROE GROWTH:Conroe, a Houston suburb, was the fastest-growing city in the nation last year with a population increased of 7.8%, 11X higher than the national average. The rise of population is attributed to job creation in the city and the surrounding area by employers such as Shell Oil and the ExxonMobil campus is Spring.
DEMOGRAPHIC HIGHLIGHTS CITY OF CONROE, TX MONTGOMERY COUNTY TEXAS
Total Population Source: City of Conroe Community Development Dept. as of 1/2015 County & State: SitesOnTexas 2014 Estimates
71,592 496,679 21,028,238
Total Households Source: SitesOnTexas 2014 Estimates
23,368 178,907 7,544,490
Median Household Income Source: SitesOnTexas 2014 Estimates
$51,607 $69,726 $52,095
Median Age Source: SitesOnTexas 2014 Estimates
33 37 34
Housing: Average Home Price Source: County & State - Texas A&M University Real Estate Center as of 1/2015
——— $301,700 $231,400
Retail Sales Per Capita Source: U.S. Census Bureau; Business QuickFacts. Last gathered data (2007)
$36,608 $12,748 $13,061
Total Weekly Per Capita Expenditure To include Apparel, Services, Entertainment, Health Care, Market Basket, Transportation. Source - DemographicsNow Q2 2014 Estimates
$161 $172 $164
Total Annual Per Capita Expenditure To include Apparel & Services, Entertainment, Health Care, Market Bas-ket, Transportation. Source - DemographicsNow Q2 2014 Estimates
$8,354 $8,936 $8,505
Cost of Living: Based on a 100% Composite Index Source: The Council for Community and Economics Research as of Q1 2015
91.3% ——— ———
INVESTMENT HIGHLIGHTS
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe
Aerial
Oblique
AERIAL / OBLIQUE
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe SITE & FLOOR PLANS
Site Plan
Floor Plan
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe
Tenant: Renal Treatment Center LP. dba DaVita Dialysis
Address: 233 Interstate 45N, Conroe, TX 77034
Lease Area: 8,200 SF
Lease Date/ Turnover: September 12, 2014
Lease Commencement: April 1, 2015
Lease Expiration: March 31, 2025
Primary Term: Ten (10) Years
Option Periods: Three (3) Five-year options
Rent Schedule: $21.00/SF Base Rent with Annual Increases of 1.5% including Option Periods.
Real Estate Taxes: Full NNN Lease. Landlord pays and Tenant reimburses within 30 days.
CAM: Full NNN Lease
Insurance: Full NNN Lease. Landlord pays both Building and Flood Insurance and Tenant reimburses within 30 days.
Repairs & Maintenance: Full NNN Lease
LEASE ABSTRACT
PERMITTED USES: Tenant may exclusively occupy and use the Premises during the Term for purposes of the operation of an outpatient renal dialysis clinic, renal dialysis home training, aphaeresis services and similar blood separation and cell collection procedures, general medical offices, clinical laboratory, including all incidental, related and necessary elements and functions of other recognized dialysis disciplines which may be necessary or desirable to render a complete program of treatment to patients of Tenant and related office and administrative uses or for any other lawful purpose(s) (the “Permitted Use”). Tenant may operate during such days and hours as Tenant may determine, without the imposition of minimum or maximum hours of operation by Landlord, and Tenant shall have exclusive use of and full-time access to the Premises, and may operate, up to 24 hours per day, seven days per week, year-round.
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe
PERIOD BASE RENT PER SQFT MONTHLY BASE RENT ANNUAL BASE RENTFull months 1 through 12 inclusive: $21.00 $14,350.00 $172,200.00
Full months 13 through 24 inclusive: $21.32 $14,565.25 $174,783.00
Full months 25 through 36 inclusive: $21.63 $14,783.73 $177,404.75
Full months 37 through 48 inclusive: $21.96 $15,005.48 $180,065.82
Full months 49 through 60 inclusive: $22.29 $15,230.57 $182,766.80
Full months 61 through 72 inclusive: $22.62 $15,459.03 $185,508.31
Full months 73 through 84 inclusive: $22.96 $15,690.91 $188,290.93
Full months 85 through 96 inclusive: $23.31 $15,926.27 $191,115.29
Full months 97 through 108 inclusive: $23.66 $16,165.17 $193,982.02
Full months 109 through 120 inclusive: $24.01 $16,407.65 $196,891.75
PERIOD BASE RENT PER SQFT MONTHLY BASE RENT ANNUAL BASE RENTFull months 1 through 12 inclusive: $24.37 $16,653.76 $199,845.13
Full months 13 through 24 inclusive: $24.74 $16,903.57 $202,842.81
Full months 25 through 36 inclusive: $25.11 $17,157.12 $205,885.45
Full months 37 through 48 inclusive: $25.48 $17,414.48 $208,973.73
Full months 49 through 60 inclusive: $25.87 $17,675.69 $212,108.34
PERIOD BASE RENT PER SQFT MONTHLY BASE RENT ANNUAL BASE RENTFull months 1 through 12 inclusive: $26.25 $17,940.83 $215,289.96
Full months 13 through 24 inclusive: $26.65 $18,209.94 $218,519.31
Full months 25 through 36 inclusive: $27.05 $18,483.09 $221,797.10
Full months 37 through 48 inclusive: $27.45 $18,760.34 $225,124.06
Full months 49 through 60 inclusive: $27.87 $19,041.74 $228,500.92
PERIOD BASE RENT PER SQFT MONTHLY BASE RENT ANNUAL BASE RENTFull months 1 through 12 inclusive: $28.28 $19,327.37 $231,928.43
Full months 13 through 24 inclusive: $28.71 $19,617.28 $235,407.36
Full months 25 through 36 inclusive: $29.14 $19,911.54 $238,938.47
Full months 37 through 48 inclusive: $29.58 $20,210.21 $242,522.55
Full months 49 through 60 inclusive: $30.02 $20,513.37 $246,160.38
OPTION CHARTS:
BASE RENT:
LEASE ABSTRACT
CONTACT T IMOTHY BURTON, BROKER • (800) 261-5953 • [email protected]
Information contained herein has been obtained from reliable sources. However, we do not guarantee its accuracy.
DaVita Dialysis Conroe
CONFIDENTIALITY AGREEMENT
The information contained in the following Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Timothy Burton and should not be made available to any other person or entity without the written consent of Timothy Burton. The information contained herein is not a substitute for thorough due diligence on the part of prospective Buyer’s. Timothy Burton makes no warranty or representation with respect to the size and square footage of the property, the improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations and the physical condition of the improvements. All potential Buyer’s must take appropriate measures to verify all the information set forth herein.
LANDLORDS MAINTENANCE RESPONSIBILITIES
REPAIR & REPLACEMENT AT LANDLORD’S COST:Except for damage caused by, and repairs and replacements necessitated by the negligence or misconduct of Tenant or its agents, servants, employees, guests, invitees, or independent contractors within the Premises, Landlord shall, at its sole cost and expense, maintain and keep in good order and repair and promptly make any necessary replacements to the roof, roof membrane, roof covering, concrete slab, footings, foundation, structural components, and exterior walls of the Building.
DISCLOSURE
