CAP Rate: 4.75%
Net Operating Income: $275,856
Year Built: 2001
The Kase Group is pleased to present this DaVita Dialysis in Long Beach, California with a rare absolute NNN lease. The original lease was executed February 8, 2001, and was recently extended for an additional 10 years with a June, 5, 2029 expiration. The tenant has two, five-year options to renew beyond the initial term at 95% of FMV. DaVita recently installed a new monument sign at its own cost.
Long Beach is a city on the Pacific Coast of the United States, within the Greater Los Angeles area of Southern California. As of 2010, its population was 462,257. It is the 39th most populous city in the United States and the 7th most populous in California. Long Beach is the second-largest city in the Los Angeles metropolitan area and the third largest in Southern California behind Los Angeles and San Diego. Long Beach is a charter city.