4679 W Spruce Ave
$7,899,000
4679 W Spruce Ave, Fresno, CA 93722
12,960 sqft
Building Size
1.5572 acres
Lot Area
Details:
Highlights:
- DaVita (NYSE: DVA) Credit Tenant
- Approximately 10 Years Remaining on Lease
- Absolute NNN Lease Structure
- Minimal Landlord Responsibilities
- Newer Construction (Completed in 2021)
- 10% Rent Increases Every 5 Years
- Three (3) Five-Year Renewal Options
- Purpose-Built ±12,960 SF Dialysis Facility
- Strong Healthcare Demand Drivers
- Long-Term Occupancy Potential Through 2051
Description:
Lee & Associates is pleased to present the opportunity to acquire a purpose-built, single-tenant dialysis facility net-leased to DaVita Kidney Care (NYSE: DVA), one of the nation's leading kidney care providers, with over 2,650 U.S. centers, approximately 200,000 patients served, and $12.8B in 2024 consolidated revenue.
Constructed in 2021, the 12,960-square-foot medical facility sits on a 1.53-acre parcel in northwest Fresno, near W. Herndon Avenue and N. Milburn Avenue with convenient regional access to State Route 99. The asset is 100% leased under an Absolute NNN structure, with the tenant responsible for real estate taxes, insurance, utilities, and day-to-day maintenance, providing a low-management investment with minimal landlord responsibility.
The lease runs through July 6, 2036, with 10% contractual rent increases every five years and three five-year renewal options extending potential tenant control through July 2051. The facility benefits from exclusive dialysis use protection and expansion rights on adjacent premises, reinforcing its long-term operational commitment at this location.
Surrounded by a dense, growing residential base, the property serves a trade area (ZIP 93722) with a population of over 86,000, median household income of $80,285, and a young median age of 32.3, supporting sustained demand for outpatient medical services. Fresno, the largest city in California's Central Valley, anchors a regional healthcare, agriculture, logistics, and employment hub with a city population of approximately 555,549 and a county population exceeding 1 million.
This offering provides investors the opportunity to acquire a recession-resistant, healthcare-anchored asset with investment-grade tenancy, contractual income growth, and a long-term lease structure in one of California's fastest-growing inland markets.
4679 W. Spruce Avenue is situated in northwest Fresno near the intersection of W. Herndon Avenue and N. Milburn Avenue, with convenient regional access to State Route 99. The property benefits from strong daily traffic exposure of approximately 37,196 vehicles per day on nearby corridors and over 73,952 vehicles per day regionally, surrounded by a dense residential base, schools, and complementary medical services. The immediate trade area (ZIP 93722) supports over 86,000 residents with a median household income of $80,285, while Fresno's broader population of 555,549 — and Fresno County's population exceeding 1,035,456 — establishes the site within one of California's most significant Central Valley healthcare markets, providing a strong and recurring patient demand base for mission-critical outpatient medical uses.
Location
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