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3710 Fm 1889 10,328 SF Retail Building Robstown, TX 78380 $5,791,046 CAD ($560.71 CAD/SF) 6.25% Cap Rate
Investment Highlights
- Strong Guarantee - DaVita, Inc. generated $13.64 billion in revenue, yielding over $746 million in net income, and holds a BB rating with S&P.
- Tax Free State - Texas is one of nine states in the U.S. that does not levy a state income tax on wages and salaries.
- Rental Increases - The lease provides for ten percent (10%) rental increases every five (5) years during the initial term and option periods.
Executive Summary
Newmark has been exclusively engaged to offer for sale the Davita Dialysis Center located at 3710 FM 1889, Corpus Christi, Texas.
The Property consists of 1.40 acres and a 10,328-square-foot medical clinic. The initial term of the lease is for fifteen (15) years, with approximately 8.5 years remaining, and features three (3) five (5) year renewal options. The lease provides ten percent (10%) rental increases every five (5) years.
The Property consists of 1.40 acres and a 10,328-square-foot medical clinic. The initial term of the lease is for fifteen (15) years, with approximately 8.5 years remaining, and features three (3) five (5) year renewal options. The lease provides ten percent (10%) rental increases every five (5) years.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,328 SF
Building Class
B
Year Built
2019
Price
$5,791,046 CAD
Price Per SF
$560.71 CAD
Cap Rate
6.25%
NOI
$361,939 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.41 AC
Zoning
NO ZONING
Parking
28 Spaces (2.71 Spaces per 1,000 SF Leased)
Frontage
235’ on Farm to Market Road 1889
Somewhat walkable
20/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 514875 | Improvements Assessment | $3,136,334 CAD |
| Land Assessment | $595,490 CAD | Total Assessment | $3,731,824 CAD |
Property Taxes
Parcel Number
514875
Land Assessment
$595,490 CAD
Improvements Assessment
$3,136,334 CAD
Total Assessment
$3,731,824 CAD
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3710 Fm 1889
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