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Florida Spine Institute 4 Office Properties Offered at $16,923,500 in Clearwater, FL
INVESTMENT HIGHLIGHTS
- FULLY LEASED MEDICAL OFFICE PORTFOLIO
- PREMIER CLEARWATER MEDICAL CORRIDOR LOCATION
- ANCHORED BY AN ESTABLISHED HEALTHCARE PROVIDER
- LONG TERM DOUBLE-NET LEASE
- CONTRACTUAL RENTAL GROWTH
- STABILIZED ASSET WITH RECENT IMPROVEMENTS
EXECUTIVE SUMMARY
Florida Spine Institute offers the opportunity to acquire a fully leased, multi building medical office portfolio located along the established Drew Street medical corridor
in Clearwater, Florida. The fee simple portfolio totals approximately 40,573 square feet across four purpose built medical facilities on 3.58 acres and is 100 percent
occupied by complementary healthcare users, anchored by a long standing and well established medical group.
The asset provides durable cash flow supported by long-term double-net leases, annual rent escalations of 2.5%, and a weighted average lease term of approximately 10.1 years. In place tenancy is backed by operating medical practices and guarantees, reducing rollover risk while offering predictable income growth. Recent capital improvements across the portfolio further enhance long term performance and limit near term capital exposure.
Located within a premier medical submarket of the Tampa Bay region, the property benefits from strong demographics, an aging population, and sustained demand for outpatient and specialty care. Offered at a 6.00 percent cap rate on current NOI, Florida Spine Institute represents a compelling opportunity to acquire a
stabilized medical office investment with embedded growth and long term healthcare-driven fundamentals.
in Clearwater, Florida. The fee simple portfolio totals approximately 40,573 square feet across four purpose built medical facilities on 3.58 acres and is 100 percent
occupied by complementary healthcare users, anchored by a long standing and well established medical group.
The asset provides durable cash flow supported by long-term double-net leases, annual rent escalations of 2.5%, and a weighted average lease term of approximately 10.1 years. In place tenancy is backed by operating medical practices and guarantees, reducing rollover risk while offering predictable income growth. Recent capital improvements across the portfolio further enhance long term performance and limit near term capital exposure.
Located within a premier medical submarket of the Tampa Bay region, the property benefits from strong demographics, an aging population, and sustained demand for outpatient and specialty care. Offered at a 6.00 percent cap rate on current NOI, Florida Spine Institute represents a compelling opportunity to acquire a
stabilized medical office investment with embedded growth and long term healthcare-driven fundamentals.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $16,923,500 | Number of Properties | 4 |
| Price / SF | $460.79 / SF | Individually For Sale | 0 |
| Cap Rate | 6.03% | Total Building Size | 36,727 SF |
| Sale Type | Investment | Total Land Area | 3.57 AC |
| Status | Active |
| Price | $16,923,500 |
| Price / SF | $460.79 / SF |
| Cap Rate | 6.03% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 36,727 SF |
| Total Land Area | 3.57 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2251 Drew St, Clearwater, FL 33765 | Office | 14,146 SF | 1985 | - |
| 2250 Drew St, Clearwater, FL 33765 | Office | 10,900 SF | 1990 | - |
| 2230 Drew St, Clearwater, FL 33765 | Office | 8,404 SF | 1982 | - |
| 2238 Drew St, Clearwater, FL 33765 | Office | 3,277 SF | 1976 | - |
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