483 Gtwy Industrial Park Dr Jenkins, KY 41537

Property Details for 483 Gtwy Industrial Park Dr

Year built

2014

Lot size

1.02 lot acres

Property size

5,524 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a 5,524-square-foot medical office building in Jenkins, Kentucky, fully occupied by DaVita Dialysis under a net lease. The property boasts a strong 8.00% cap rate and a substantial net operating income (NOI) of $133,162. The lease, commencing March 14, 2014, and expiring March 13, 2029, offers a remaining term of approximately 4.3 years, with two 5-year renewal options and 10% rent bumps every five years. The building, constructed in 2014, sits on a 1.017-acre lot and benefits from a corporate guaranty from DaVita Healthcare Partners Inc., providing significant financial security. Its strategic location just off US Highway 23 (8,455 VPD) ensures high visibility and accessibility. The area demonstrates limited competition, with the nearest competitor located over 20 miles away. Supporting businesses in the vicinity include Walgreens, Dollar General, Save A Lot, Hardee's, Marathon, and Valero. The property's strong tenant, DaVita, holds a 37% market share of the US dialysis industry, making this a resilient, recession-resistant investment. The average household income within a 7-mile radius is $53,982, further supporting the property's viability. DaVita's patient base is predominantly covered by government-based health insurance, adding to the investment's stability. This offering presents a compelling opportunity for investors seeking a secure, high-performing asset in a stable market. The asking price is $1,664,527, translating to a price per square foot of $301.33.

Location Insight

City

Jenkins

County

Letcher

State

Kentucky

Longitude

-82.6565

Latitude

37.1649