For Sale
$6,475,000 | 6.00% Cap
671 Hioaks Rd, Richmond, VA 23225
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Broker of Record: Jeremy R. Halback | Bridgeline Real Estate LLC | VA License #: 0225276916
Investment Highlights
Proximity to Chippenham Hospital
The subject property is positioned across from Chippenham Hospital, a 466-bed hospital operated by HCA. The hospital acts as a referral source for dialysis and nephrology services, strengthening the site’s role within the local specialty-care network.
Integrated Referral Advantage
The two-tenant pairing is highly complementary, as nephrologists diagnose kidney disease while dialysis centers deliver the ongoing treatment required for the diagnosed patients. This dual-tenancy creates a seamless care environment that drives consistent patient traffic.
Long-Term Leases with 2.75% Annual Rent Escalations (Avg.)
Both tenants are secured under long-term net leases with a weighted average remaining term of approximately 11.2 years. DaVita is leased through February 2036 with 2.50% annual rent escalations, and Richmond Nephrology Associates is leased through October 2037 with 3.00% annual escalations.
Established Tenant Operating History
DaVita has operated at this location since 2006, reflecting long-term performance and continuity. Richmond Nephrology Associates has served the Richmond market for more than four decades, contributing to the site’s stability as a specialty-care hub.
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Dual-Tenant | 14,647 Square Feet |
11+ Years (WALT) | $388,471 |
Overview
Peranich Huffman Net Lease Group is pleased to offer the exclusive opportunity to acquire DaVita Dialysis & Richmond Nephrology Associates, a 14,647‑square‑foot dual‑tenant medical property located at 671 Hioaks Road, Richmond, VA. The property is 100% occupied on 1.15 acres and reflects a 6.00% capitalization rate on net operating income of $388,471. Originally constructed in 1991 and renovated in 2016, the facility serves dialysis and nephrology patients in the Richmond market and features a weighted‑average lease term remaining of approximately 11.2 years.
Leases
DaVita Dialysis occupies 7,500 square feet (51.2% of the building) under a net lease that runs through February 29, 2036. Beginning March 1, 2026, annual base rent is $183,750 with 2.50% annual increases for the remainder of the term, and the lease provides two (2) five‑year renewal options at fair market value. DaVita accounts for 47.3% of the property’s net operating income.
Richmond Nephrology Associates occupies 7,147 square feet (48.8% of the building) under a net lease that runs through October 31, 2037. Effective November 1, 2025, annual base rent is $204,721 with 3.00% annual increases, and the lease includes three (3) five‑year renewal options, each with 3.00% annual rent adjustments. Richmond Nephrology Associates contributes approximately 52.7% of net operating income, complementing DaVita’s tenancy to create a fully occupied, dual‑tenant medical asset.