4800 Park Blvd N
Pinellas Park, FL 33781
Gateway Radiology · Office Property For Sale

Zeustra, LLC is pleased to present 4800 Park Boulevard, an 8,094-square foot, single-tenant medical office building located in the heart of Pinellas Park, Florida.

The property is 100% leased to SimonMed Imaging, a nationally recognized outpatient imaging provider offering a full suite of advanced diagnostic services at this location—including MRI, CT/CAT scan, PET scan, 3D mammography, bone density (DEXA), ultrasound, and X-ray—with nearly 50 years of continuous imaging operations at the site dating back to Gateway Radiology. SimonMed has confirmed its intent to exercise its renewal option, with the lease extension expected to be executed prior to closing, extending the lease through February 29, 2032, eliminating near-term rollover risk. A subsequent fair-market-rent option provides additional long-term upside given the current rental rate’s discount to market.

The asset generates an in-place NOI of approximately $188,000, supported by a modified NNN lease structure, 3.0% annual rent escalations, and parking income that functions as true rent with no offsetting expense burden.

SimonMed is beginning a major PET scanner renovation with an estimated capital investment of $1 million, further entrenching the site as a mission critical diagnostic facility.

Ownership has recently invested approximately $1.25 million to expand parking from 69 to 120 fully approved spaces, permanently resolving a historical constraint and delivering immediate benefit to the buyer.

Major building components—including the roof and exterior paint—are only three to four years old, minimizing near-term capital expenditure risk. Strategically positioned along Park Boulevard, the property benefits from strong visibility, proximity to regional hospitals and referral networks, and favorable Medicare driven demographics.

As the only outpatient PET scanner location in Pinellas County, 4800 Park Boulevard represents a highly durable, irreplaceable medical asset offering secure cash flow and long-term value preservation in a core Florida healthcare market.

In summary, 4800 Park Boulevard offers a compelling blend of recent capital improvements, proven nationally known tenancy, turnkey medical facilities, and strong local healthcare demand. For investors seeking secure cash flow, long term value growth, and minimal management demands in a leading Florida healthcare market, this asset represents an outstanding opportunity.