LEASED MEDICAL OFFICE INVESTMENT OPPORTUNITY – ADJACENT TO ORLANDO AREA HOSPITALS
661 E. Atlamonte Drive
Altamonte Springs, FL 32701
Highlights
- 7350 Sand Lake Commons - B Suite 3329 Orlando, FL 32819 - 1,970 SF
- 661 E Altamonte Dr, Suite 210 Altamonte Springs, FL 32701 - 4,353 SF
- 1807 Salk Dr. Tavares, FL 32778 - 1,850 SF
- To Be Sold as Combined Portfolio
- All Properties Leased to a Single National Tenant
Description
Sale of a portfolio of three medical office properties adjacent to or immediately nearby area hospital complexes in Altamonte Springs, Sand Lake/Dr. Phillips and Tavares. The medical condominium offices and the free standing medical office comprise a combined total of 8,173 SF. $150,005. NOI 2019 - 6.67% CAP
The properties are fully leased to a single national corporate medical tenant, Upperline Health, Inc. and are operated as Podiatry MedicalSurgical service providers. The current five year lease term extends through March of 2025. Rents increase by 2% annually. Under modified NN lease terms, the tenant pays for utilities and unit maintenance, the landlord is responsible for Sales Tax, Real Estate Taxes and HOA fees. The properties are operated as an investment and the portfolio reported a first-year net income of $150,005.40 during 2019.
The Orlando Metro Office Real Estate Market and the exploding expansion of area hospitals, medical services offerings and facilities underscore the current demand for highly customizable professional offices in key area sub-markets. Altamonte Springs, the Sand Lake area along Turkey Lake (adjacent to I-4) and the Waterman Hospital district along US 441 in Mount Dora-Tavares, are key Central Florida population centers surrounding significant commercial-business districts. Each of the properties are ideally located within or adjacent to major regional hospital facilities and will be attractive locations for professional medical providers for many years to come.
661 E Altamonte Dr, Suite 210 Altamonte Springs, FL 32701, Located in Medical Office Building attached to Advent Health Hospital - Altamonte Springs
7350 Sand Lake Commons - B Suite 3329 Orlando, FL 32819 Located in Medical Office Building adjacent to Orlando Regional Medical Center Hospital Sand Lake
1807 Salk Dr. Tavares, FL 32778 Across from Waterman Hospital in Tavares
