Texarkana, TX - 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 Dialysis investment property located in Texarkana, Texas. The tenant, DaVita, Inc has over 6 years remaining on their initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 15% rental increase at the beginning of the first option and 10% rental increases at the beginning of each remaining option period, growing NOI and hedging against inflation. The lease is NN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The property is located near Summerhill Rd, which averages 18,700 vehicles passing by daily and is a major retail thoroughfare serving the city of Texarkana. The DaVita is located just north of Interstate 30 (74,300 VPD), a nearby east/west travelling thoroughfare connecting Dallas, TX and Little Rock, AR. Additionally, the site is located just northeast of Central Mall, a 701,000 square foot regional mall that is anchored by Dillard’s, Michaels, Five Below, Burlington, & more. Furthermore, the asset is positioned just down the highway from Richmond Ranch Shopping Center, a 385,000 square foot power center with major/credit tenants including The Home Depot, Target, Kohl’s, and more. Moreover, DaVita is situated just east of Texarkana Pavilion, a 245,000 square foot center anchored by T.J. Maxx, Old Navy, and Cinemark. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, Lowe’s Home Improvement, Albertson’s, Dollar Tree, Best Buy, and more, further increasing consumer traffic to the site. The subject property is located in close proximity to Christus St. Michael Hospital (325 Beds), one of the largest medical facilities in the area. The 5-mile trade area is supported by a population of over 69,000 with an average household income of $73,471.