Davita Kidney Care
South Bend, IN
The Opportunity
Summary
- PRICE $4,320,000
- CAP RATE 6.25%
- NOI $270,030
- LEASE TYPE Fee Simple: NN
- BUILDING SIZE 9,001 SF
- PARCEL SIZE 1.84 ACres
- YEAR BUILT 2014
- REMAINING LEASE TERM 11+ Years
- OPTIONS Three (3), Five (5) Year Options
- RENTAL INCREASES 2% Annually in Base Term Starting in 2032
- TENANT/ GUARANTOR Total Renal Care, Inc. / DaVita Healthcare Partners, Inc.
- ADDRESS 4350 S Ironwood Dr. South Bend, IN
Forged Real Estate is pleased to exclusively offer the fee simple interest in a single-tenant property leased to DaVita Kidney Care (the “Property”), located in South Bend, Indiana, an established regional hub situated along the St. Joseph River and serving as the county seat of St. Joseph County. The tenant operates under a double-net (NN) lease with scheduled 2% annual rent increases beginning in 2032, offering built-in income growth. The lease is guaranteed by DaVita Healthcare Partners, Inc. (NYSE: DVA), providing investors with the security of a corporate-backed obligation. Rated BB by Standard & Poor’s, DaVita is a nationally recognized healthcare provider and has earned recognition as one of Fortune’s World’s Most Admired Companies for 15 consecutive years. Demonstrating strong financial performance, the company generated $506 million in operating income in Q3 2025. Further solidifying the investment’s stability, the tenant proactively executed a 7-year lease extension well ahead of expiration, resulting in more than 11 years of remaining term, a clear indicator of long-term confidence in the location and continued operational commitment. This combination of corporate credit, extended lease duration, and steady rent growth positions the offering as a compelling opportunity for investors seeking durable, predictable cash flow.
