1220 3rd street

This property offers an excellent single-tenant investment opportunity with over five years remaining on the primary lease term and structured 10% rental increases every five years, providing a hedge against inflation. The NNN lease is backed by a corporate guaranty from DaVita (NYSE: DVA), a publicly traded company generating over $12 billion in revenue in 2023, and requires minimal landlord responsibilities, with the tenant covering taxes, insurance, parking lot, CAM, and HVAC. Operating six days a week with 12 dialysis stations, the property is strategically located in the Allentown/Lehigh Valley MSA—the third largest MSA in Pennsylvania—within a dense infill area of over 119,000 residents within three miles. Positioned along 3rd Street with traffic exceeding 17,000 vehicles per day, the site is less than 3.5 miles from St. Luke’s Medical Center and is part of the St. Luke’s Hospital Network, one of the largest healthcare networks in the region. The surrounding population has grown consistently, increasing by 8% over the past ten years within a five-mile radius, supporting long-term tenant stability and demand.