Tavares Professional Park 1733 David Walker Dr 5,367 SF 100% Leased Office Building Tavares, FL 32778 $6,900,000 ($1,285.63/SF) 6.66% Cap Rate

One building of a four building 8 suite professional medical park located on David Walker Dr. just south of its intersection with US HWY 441. All four buildings are part of a master planned development and are being offered as a portfolio purchase only. All buildings are fully occupied and generally described as follow. The oldest building consists of 10,000 square feet of medical buildout divided into a 7,000 square foot suite occupied by a General Practitioner Group owned by AdventHealth and a 3,000 square foot suite specifically designed for Pediatric care. A second 4,000 square foot building was added in 2007 and is divided into a 2,500 square foot medical suite and a 1,500 medical square foot suite. A third 4,000 square foot building was developed in 2010 and it is divided into a 1,550 square foot professional suite, a 950 square foot medical suite and a 1,300 square foot medical suite. And finally, in January 2020 the last building (whioch is this building) consisting of 5,367 square feet was completed as a build to suit and Aegis Medial Group began their long-term occupancy February 1, 2020 and are currently enjoying their second (5) year term. The development was master planned with several common water retention areas and underground storm drainage. Access from David Walker Drive is via a private oak lined 50 foot wide drive and the buildings surround a large common parking area in a campus like setting. All the buildings were designed by a medical architect and are efficient in space utilization. Each suite contains a separate sidewalk accessed employee/doctor’s private entrance as well. Current Rent Roll and 2025 P & L available upon request.
CONDITION: The common grounds as well as the building have been well maintained and there is no deferred maintenance. Building updates have been done periodically both by the Tenants and Landlord on an as needed or desired basis. The landscaping and overall grounds have recently been completely updated. The current owner recognizes the importance of having a well-maintained facility and groomed grounds.
COMMENTS: The David Walker Drive corridor has become an active commercial corridor serving the local Golden Triangle Market. This development is ideally located between US HWY 441 and Dora Avenue, which is another entrance to downtown Tavares. Tavares attracts many professionals as it is the county seat. The Golden Triangle YMCA/Regional Park East campus is located just south of this property and Lake County opened the new Lake County Tax Collectors and Driver’s License office in a 10,000 square foot facility directly across from this property. And next to the Tax Collectors office is the rapidly expanding Liberty Christian Preparatory School. With its large and new campus, it current serves almost 500 students. The immediate area consists of mixed uses including professional, medical, commercial, schools, and residential.