Absolute NNN Leased Medical Building

Office for Sale
Catylist Listing ID: 30642791
Property Subtypes: Medical, Net Leased, Office Building
Building Size (RSF): 12,377 SF
Gross Land Area: 0.79 Acres
Sale Price: $2,700,000
Unit Price: $218.15 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Dedicated Senior Health Care - Lakeland North
Class of Space: Class B
Usable Size (USF): 12,377 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/20/2020

Overview / Comments

Free-standing, Single Tenant Net Leased (Absolute Net) medical office building located in the heart of Lakeland. Corner location - lighted - includes onsite parking lot - roughly 35 - 39 cars as currently configured - curb cut access to Florida and Missouri Avenues. Building totally renovated in 2015 for current occupant which is multi -unit medical provider in the Southeast. Current lease term runs through 1/27/26 and tenant has 2, 5 year renewal options. Lease provides for annual escalations. Current CAP Rate is 3.9% based upon current, in-place income. Property subject to ROFR of existing tenant. Shown by appointment only and subject to access restrictions due to current health advisory. NDA available.

Additional Details

Nearest MSA: Lakeland-Winter Haven
County: Polk
Taxing Authority: Polk County
Tax ID/APN: 232813068500003010
Property Located Between: Lake Wire Drive and Florida Avenue
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 12,377 SF
Year Built: 1937
Year Renovated: 2015
Roof Type: Gable
Construction/Siding: Stucco
Parking Type: Surface
Total Parking Spaces: 39
Zoning Description: C - 6
Lot Frontage: 215
Lot Depth: 145
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,063 80,179 131,011
Median Age: 35.98 37.62 39.11
Households: 5,069 31,892 52,321
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