Medical Office Building – San Antonio Commercial Real Estate
Executive Summary – 731 Carnoustie San Antonio, Texas
This newly constructed Stone Oak Medical Office Buildingis now 100% leased (construction just completed). Fully leased Stone Oak Investment Property. $405, 659.50 base year NOI. 7.5 cap. $5,408,793.33. The site has also been recently chosen to be the critical care facility for the 100 mile area for the major tenant which has required generator backup and potable water in the event of a City Wide Emergency.
731 Carnoustie is an 18,798 SF Medical office building leased to three Fortune 500 Medical Subsidiaries of a group called DaVita LINK TO DAVITA (Regional Office–7 year primary lease—7000 SF, Dialysis Unit–15 year—7500 SF , Operations–7 year—1327 SF) and to the city’s strongest nephrology practice LINK TO SAKDC (2800 SF–10 year) . DaVita’s newest San Antonio Dialysis Unit should complete development (rent commencement on c of o) on or around September 1, 2011. This property is conveniently located for dialysis patients in close proximity to San Antonio’s Hottest New Hospital in Stone Oak and sandwiched in between several other Stone Oak Hospitals.
This site is DaVita’s 17th dialysis unit in San Antonio, Texas. This new unit has been opened to fight the growing kidney failure epidemic that Texas owns (largely driven from Texan’s eating habits). I would anticipate that this won’t be the last new unit in San Antonio for DaVita due to San Antonio’s forecasted explosive growth!!!!
If you like investing in Commercial Real Estate in San Antonio, Texas why wouldn’t you choose to place your hard earned money into an investment leased (long term) by a multiple medical tenants providing a service that extends lives? The patrons of these facilities might skip a burger or buying a new gas can at the auto supply NNN assets that you are considering down the street from this one, but would they skip their dialysis treatment? The leases contains three (3) five (5) year renewal options with a very high likelihood of extension due to the significant investment in this facility by Tenants and its excellent location. With the final 1498 SF lease that was recently completed, Base year NOI is $405,659.50. List Price of $5,408,793.33 is based on a 7.5% capitalization rate (cap rate) on the base year “ACTUAL”NOI for the pre-leased spaces and projected 1st year rent with no remaining vacancy.
DaVita Inc., a FORTUNE 500® company, is a leading provider of kidney care in the United States, delivering dialysis services and education to patients with chronic kidney failure and end stage renal disease. As of March 31, 2011, DaVita operated or provided administrative services at 1,642 dialysis facilities, serving approximately 128,000 patients. DaVita develops, participates in and donates to numerous programs dedicated to transforming communities and creating positive, sustainable change for children, families and our environment. The company’s leadership development initiatives and corporate social responsibility efforts have been recognized by Fortune, Modern Healthcare, Newsweek, and WorldBlu, among others.
Net Leased DaVita for Sale in NC San Antonio, TX
Net Leased – Medical Office Building for Sale in Stone Oak