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1st St Professional Condo 950 1st St S 20,327 SF 100% Leased Office Building Winter Haven, FL 33880 $6,150,000 ($302.55/SF) 7.08% Cap Rate
Investment Highlights
- Long-Term Anchor Commitment: Anchored by Palm Medical Centers (93.28% of GLA) with a lease recently extended through September 2034.
- Strong Regional Credit: Anchor tenant is a leading provider with over 30 locations in Florida and recent expansion into the Texas market.
- Inflation Hedge: Features contractual annual rent escalations for the anchor tenant.
- Mission-Critical Medical Hub: Strategically located in a proven healthcare corridor less than 1.5 miles from the 468-bed Winter Haven Hospital.
- Stabilized Income & Occupancy: 100% occupied multi-tenant facility with mostly a NNN lease structure.
- Recent $5.8M Appraised Valuation: Offered at an attractive basis relative to recent property valuation metrics.
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- -
- $22.00
- Triple Net
- Jun 2034
Palm Medical Centers began in 2013 as a primary care organization serving older adults in Florida. The company focuses on value-based senior primary care and offers services such as primary care, in-house labs, in-house specialists, diagnostic services, case management, social services, transportation, wellness support, and pharmacy delivery at selected locations. Palm Medical Centers says the business now operates multiple locations across Central and South Florida and also serves patients through a broader network that includes Texas. The company’s care model centers on coordinated services for Medicare Advantage and managed Medicaid patients.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | - | $22.00 | Triple Net | Jun 2034 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,128,691 |
Property Taxes
Presented by
Florido Enterprises
1st St Professional Condo | 950 1st St S
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