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4501-4551 Davis Hwy
Pensacola, FL 32503
Ascension Sacred Heart · Office Property For Sale
Investment Highlights
- Modified net lease with 3% annual rent increases providing predictable income growth
- ~$500K in recent ownership capital improvements, reducing near-term CapEx exposure
- Mission-critical ±31,600 SF orthopedic campus with 48 exam rooms and nearly 30 providers
- Recently extended lease through May 2031 with annual increases doubled from 1.5% to 3.0%
- ~$800K invested by Ascension in recent interior renovations, reinforcing commitment to the location
- Located in Pensacola’s primary medical corridor, less than two miles from Ascension Sacred Heart and Baptist hospitals
Executive Summary
Matthews™ is pleased to exclusively present the opportunity to acquire a ±31,633-square-foot outpatient medical campus leased to Ascension Sacred Heart Health System, the leading healthcare provider in Northwest Florida and a subsidiary of Ascension. The Property consists of three buildings dedicated to orthopedic and musculoskeletal care within Pensacola’s primary healthcare corridor.
The investment is secured by a recently extended lease through May 2031 with 3% annual rental increases, providing attractive contractual rent growth and stable cash flow through a modified net lease structure.
Ownership has invested approximately $500,000 in recent capital improvements, including roof replacements, HVAC upgrades, fire protection enhancements, and parking lot resurfacing. Ascension has also invested approximately $750,000–$800,000 into the renovation of Building 4551, reducing near-term capital requirements and reinforcing its commitment to the campus.
Located less than two miles from Ascension Sacred Heart Hospital and the new Baptist Hospital campus, the Property serves as a key orthopedic and specialty outpatient location with approximately 48 exam rooms and nearly 30 providers, creating a highly strategic facility that would be costly and operationally disruptive to replicate.
The investment is secured by a recently extended lease through May 2031 with 3% annual rental increases, providing attractive contractual rent growth and stable cash flow through a modified net lease structure.
Ownership has invested approximately $500,000 in recent capital improvements, including roof replacements, HVAC upgrades, fire protection enhancements, and parking lot resurfacing. Ascension has also invested approximately $750,000–$800,000 into the renovation of Building 4551, reducing near-term capital requirements and reinforcing its commitment to the campus.
Located less than two miles from Ascension Sacred Heart Hospital and the new Baptist Hospital campus, the Property serves as a key orthopedic and specialty outpatient location with approximately 48 exam rooms and nearly 30 providers, creating a highly strategic facility that would be costly and operationally disruptive to replicate.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
31,633 SF
Building Class
A
Year Built/Renovated
1989/2005
Price
$10,734,523
Price Per SF
$339.35
Cap Rate
6.50%
NOI
$697,745
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
31,633 SF
Slab To Slab
11’
Building FAR
14.52
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
C-3
Parking
350 Spaces (4.34 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Signage
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,936,958 | |
| Land Assessment | $1,034,983 | Total Assessment | $5,971,941 |
Property Taxes
Parcel Numbers
Land Assessment
$1,034,983
Improvements Assessment
$4,936,958
Total Assessment
$5,971,941
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