614 S Cannon Blvd - Retail FOR SALE


Kannapolis, NC 28083- Old Centergrove
$3,640,000 USD
832-602-3383
614 S Cannon Blvd, Kannapolis, NC for Sale
$3,640,000 USD
Retail - FOR SALE
1/5
null | 6.5% Cap Rate

614 S Cannon Blvd
Kannapolis, NC 28083
Old Centergrove


HIGHLIGHTS

  • Long Term Corporately Guaranteed Lease: Backed by DaVita, Inc., a Fortune 500 Company for 10+ Years of Primary Term Remaining.
  • 10% Rent Escalations: Rent Increases 10% in 2025, Again in 2030, and in Each Renewal Option Period Thereafter.
  • Certificate of Need (CON) State: North Carolina Limits Dialysis Competition via CON laws, Creating a High Barrier to Entry.
  • Minimal Landlord Responsibilities: Tenant is Responsible for all Taxes, Insurance, CAM — Ensuring Low Landlord Involvement.
  • Recent Construction: Built in 2020, Modern Infrastructure Reduces Immediate Capital Needs, Mitigating Maintenance & Replacement Costs.
  • Strong Population Density: Over 72,000 Residents Live within 3 Miles, Supporting Strong, Ongoing Demand.

OVERVIEW

INVESTMENT OVERVIEW: Peranich Huffman Net Lease Group is pleased to exclusively present for sale, the DaVita Dialysis located in Kannapolis, NC. Priced at a 6.50% capitalization rate, this offering provides investors with the opportunity to acquire a property leased to a nationally recognized medical provider with an established track record of operational performance and kidney care excellence. Constructed in 2020, the 8,998 square-foot DaVita Dialysis facility is located at 614 S Cannon Blvd in Kannapolis on a 1.12-acre site, offering excellent visibility and accessibility. The property benefits from its positioning within the emerging North Carolina Research Campus medical corridor in Kannapolis, home to 100+ biotechnology companies and research facilities operated by major universities, including UNC Chapel Hill, Duke University, and NC State University. The facility serves a population of 72,000+ within a 3-mile radius and is situated along the South Cannon Boulevard retail corridor. As North Carolina is a Certificate of Need (CON) state, dialysis facilities operate under regulatory protections that limit market entry and expansion, providing additional operational security for existing providers. CORPORATE, LONG-TERM LEASE: With the execution a 15-year lease that commenced in August of 2020, DaVita Dialysis has 10+ years of primary lease term remaining with (3) 5-year renewal options. The current annual base rent of $215,098 is scheduled to increase to $236,608 in September 2025, representing one of multiple 10% escalations that occur every five years in the current term and renewal options. The lease is structured on a net basis, whereby the tenant bears financial responsibility for expenses including roof replacement, roof repair (up to $1,000/year), replacement and repair of the parking lot and HVAC, landscaping, interior/non-structural, insurance premiums, property taxes, utilities, and waste management. Replacements are reimbursed on amortized basis over useful life of item based on GAAP. The landlord is responsible for expenses related to the structure, and roof repairs exceeding $1,000. ABOUT THE TENANT: DaVita Inc. (S&P: "BB"), a Fortune 500® company, serves as the corporate guarantor for DaVita Kidney Care, the nation's premier provider of kidney care services. DaVita Kidney Care operates and provides administrative services to over 3,100 outpatient dialysis centers throughout worldwide, delivering life-sustaining treatments to approximately 281,000 patients with chronic kidney failure and end-stage renal disease (ESRD). DaVita's substantial network reach, clinical expertise, and commitment to quality patient care has solidified the company's position as a leader in the kidney care sector amongst expanding demand for ESRD treatment.

FOR SALE DETAILS

PRICE

$3,640,000 USD

PRICE/SF

$405 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

DaVita Dialysis | Corporate Guarantee

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Storefront, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

-

APN/PARCEL ID

5623-05-0490-0000

ASK ABOUT THIS PROPERTY

Jonathan PeranichPeranich Huffman Net Lease GroupMore Info
832-602-3383

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Jonathan PeranichPeranich Huffman Net Lease GroupMore Info
832-602-3383

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