2669 Church St - Medical FOR SALE


East Point, GA 30344
$2,990,000 USD
918-402-6394
2669 Church St, East Point, GA for Sale
$2,990,000 USD
Medical - FOR SALE
1/4
null | 6.45% Cap Rate

2669 Church St
East Point, GA 30344


HIGHLIGHTS

  • 2.00% Annual Rent Escalations
  • $350k in Capital Improvements since 2021
  • 20+ Years of Continuous Operation
  • Certificate of Need (CON) State for Dialysis
  • Joint Venture with Regional Nephrology Group

OVERVIEW

Colliers Healthcare Capital Markets, on behalf of Ownership, is pleased to offer the opportunity to acquire the fee simple interest in a DaVita dialysis clinic (“the Property”) located in East Point, Georgia. The offering consists of a two-tenant medical office building. 75% of the square footage is operated by DaVita as a dialysis treatment center, and the remaining 25% is operated by their JV partner, Southwest Atlanta Nephrology Associates (SWAN) as a clinical office space. The clinic has operated successfully at this location for over twenty years, and its continued commitment is evidenced through early lease extensions that were just completed. SWAN has been serving Atlanta and its outlying communities for 40+ years, and has physicians on staff at Atlanta Medical Center, Emory University Hospital Midtown, Dekalb Medical Center, Piedmont Hospital, South Fulton Medical Center, and Grady Memorial Hospital. The investment offers just under 8 years of weighted average term remaining, rental escalations of 2.00% annually, and has undergone $350k+ in interior renovations since 2021. Through the joint venture between DaVita and SWAN, this facility is poised to continue its successful operations for years into the future. Certificate of Need State - Georgia law requires a certificate of need for Dialysis assets. A needs analysis must be conducted by any operator looking to open a dialysis clinic, and the Georgia Department of Community Health (DCH) must determine whether the a clinic is necessary in the proposed area. This provides a strong barrier to entry for would be competitors, while also greatly increasing the operational success of existing clinics.

FOR SALE DETAILS

PRICE

$2,990,000 USD

PRICE/SF

$283 USD /SF

CAP RATE

6.45%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Davita Dialysis

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,787 SF

ZONING

CR, East Point

APN/PARCEL ID

14-0156-0011-033-1

ASK ABOUT THIS PROPERTY

Colin CornellColliersMore Info
918-402-6394

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Colin CornellColliersMore Info
918-402-6394

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.