For Sale
$2,400,000 | 7.30% Cap
3200 Cooper Foster Park Rd W, Lorain, OH 44053
New OM Download
Broker of Record: Jeremy Halback | Bridgeline Real Estate LLC | OH License #: BRK.2025004796
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Single Tenant | 6,800 Square Feet |
*3.5 Years | $175,100 |
Investment Highlights
Absolute Net Lease
Structured on an absolute net basis, the DaVita Dialysis lease places financial responsibility for all costs on the tenant, eliminating landlord expense obligations and providing truly passive cash flow.
Contractual Lease Term Through January 2035
While marketed to the potential January 2030 termination date, the lease as written runs through January 2035. Should the tenant elect to continue operations at the site, an owner capitalizes on the additional 5 years of executed lease term with base rent increasing 4.86% to $183,600 in February 2030.
Additional 36-Basis Point Upside
Excluded from the marketed net operating income, DaVita pays a monthly management fee equal to $8,755 annually (5.00% of base rent), increasing the effective net operating income to $183,855 and the going-in cap rate to 7.66% on the offering price.
Proximity To Referral Sources
Positioned alongside the 62-unit Lorain Estates Senior Living community and within 1.5 miles of both Cleveland Clinic Family Health Center and the 338-bed Mercy Health Lorain Hospital, the subject property benefits from established referral channels that support sustained patient volume.
Favorable Patient Base
The DaVita Dialysis clinic serves a one-mile trade area of 25,000+ residents, 46.5% of whom are age 45 or older, in a state ranking among the highest in the nation for end stage renal disease incidence, a condition requiring recurring weekly treatments.
Visibility & Regional Connectivity
Frontage on Cooper Foster Park Road at 13,400 vehicles per day (VPD), N Leavitt Road a quarter-mile east at 29,900 VPD, and State Route 2 less than a mile away at 80,800 VPD, position the subject property within a well-traveled thoroughfare with direct freeway access to and from Cleveland.
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Single Tenant | 6,800 Square Feet |
*3.5 Years | $175,100 |
Overview
Peranich Huffman Net Lease Group is pleased to exclusively present DaVita Dialysis, located at 3200 Cooper Foster Park Road West, Lorain, OH 44053. Offered at a 7.30% capitalization rate, investors have the opportunity to acquire a 100% occupied, single-tenant medical asset occupied by a nationally recognized kidney care provider. The 6,800 SF freestanding dialysis facility was built in 2009 and sits on 2.1 acres along an established retail corridor serving a trade area of 71,000+ residents within a 3-mile radius.
Lease
The subject property is leased to Los Arcos Dialysis, LLC, a successor-in-interest to Total Renal Care, Inc., the principal operating subsidiary of DaVita, Inc. The tenant holds a one-time right to terminate the lease effective January 31, 2030, exercisable only by written notice during August 2028, accompanied by a $34,430 termination fee; this offering is presented to that date, reflecting 3.5 years of lease term remaining. Annual base rent is $175,100 ($25.75/SF) and remains fixed through the potential termination date. Should the tenant not exercise the termination right, the lease continues an additional 5 years through January 31, 2035 at $183,600 ($27.00/SF), a 4.86% increase, followed by (3) 5-year renewal options at fair market value. Under the lease's absolute net structure, the tenant is financially responsible for all expenses including the structure, roof, HVAC, interior, property taxes, insurance, utilities, and landscaping, alongside a management fee equal to 5% of base rent, leaving ownership with no recurring operating or capital obligations.
Tenant
DaVita Inc. (NYSE: DVA; S&P: BB Stable) is ranked 339th on the Fortune 500® list and is a global leader in kidney care delivery. DaVita operates more than 2,650 U.S. outpatient dialysis centers nationwide, serves approximately 248,000 patients annually, employs over 70,000 people, and reported 2025 revenue of $13.6 billion and net income of $747 million.