Wisconsin Dells, WI - Davita

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, DaVita investment property located in Wisconsin Dells, WI. The tenant, DaVita, has over 5.5 years of lease term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 3.75% annual rental increases throughout the initial term and each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The subject property is located near the intersection of Interstate 90 and State Highway 23 which combine to average over 58,500 vehicles passing by daily. State Highway 23 is the major retail thoroughfare serving the city of Wisconsin Dells. The DaVita is located directly across from a Walmart Supercenter and The Home Depot anchored center that also features national/credit tenants such as Kohl’s, Ross, Dollar Tree, Anytime Fitness, and Dunkin’. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Nike, Ulta, T.J. Maxx, McDonald’s, Walgreens, Five Below, Culver’s, Burger King, Dunkin’, and more, further increasing consumer traffic to the site. The trade area is home to over a dozen resorts and water parks including the Noah’s Ark Water Park, Great Wolf Lodge, Kalahari Resorts, Glacier Canyon Lodge, Wilderness Resort, Mount Olympus Theme Park, and more. These resorts attract over 5 million annual visitors. The trade area is supported by a population of over 11,800 residents and 13,600 employees with an average household income of $105,186 within 1 mile.

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