DaVita – 10690 San Pablo Ave

Tenant Highlights

• Corporate Guarantee – The DaVita Dialysis lease is backed by a corporate guarantee from DaVita, Inc. (S&P: “BB”), a Fortune 500® company and the leading provider of kidney care in the United States.
• Leading Tenant – Over 3,000 outpatient dialysis centers which serve more than 250,000 patients in the US and abroad. This offering provides an investor with the opportunity to acquire a property containing a leading national medical tenant with a resilient business model.
• Rapid Growth of the Dialysis Market – The global dialysis market is projected to reach $138.7 billion by 2030, growing at a compound annual growth rate of 5.1%.

Lease and Location Highlights

• Core Location – The property is centrally located in El Cerrito, positioned off San Pablo Avenue in the Moeser Lane Shopping Center. The location offers exceptional visibility and frontage, with roughly 138,000 residents within a three-mile radius. Nearby national retailers include O’Reilly Auto Parts, Firestone, 24 Hour Fitness, Exxon, and more.
• Naked Lease – Operating at this location since 1995, the clinic has renewed multiple times, most recently exercising a five-year option in 2023, a strong signal of performance and tenant commitment to the site. Because no options remain, an investor gains the rare opportunity to negotiate an extension directly with DaVita or reposition the property for a new long-term lease.
• Below Market Rent – The tenant pays just $31/SF, significantly below both the El Cerrito market and DaVita’s California average. The low rent basis supports the likelihood of renewal and gives an investor value-add potential to push rent higher on extension or re-lease, an attractive combination of stability and upside.
• Strong Performing Location – The clinic operates approximately 20 chairs, 6 days a week from 5:00AM – 6:00PM, indicating strong patient demand and occupancy levels.