OFFERING SUMMARY
Price: $2,272,628
Cap Rate: 6.85%
Gross Leasable Area: 8,168 SF
NOI: $143,675 (plus additional income from Billboard)
OFFERING HIGHLIGHTS
- Double Net Lease
- Recent 5-Year Lease Extension
- 20-Year Operating History
- 10% Rental Increase in 2024
- 6+ Years Remaining on Term
INVESTMENT OVERVIEW
The subject offering provides an opportunity for both new and seasoned investors to acquire a Fresenius Medical Care property situated in Kalamazoo, Michigan. The 8,168 square-foot clinic boasts nearly a 20-year operating history and has more than six years remaining on term, with Fresenius having recently exercised their five-year option early. A rental increase of 10 percent is scheduled in September of 2024, along with two percent annual increases come September 2027, and this center is open six days a week running three shifts a day. At $278 per square foot, this is an excellent opportunity to invest in a recession-resistant property with strong medical fundamentals.
