1201 N Parrott Ave | Okeechobee, FL 34972
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- LoopNet Team
1201 N Parrott Ave
Okeechobee, FL 34972
Veteran Affairs Administration · Office Property For Sale
Investment Highlights
- Double Net Lease – Double Net lease structure, meaning that the landlord is responsible for all maintain regarding the roof, parking lot, and exterior
- The VA serves over 3,000 veterans in Okeechobee county, showing the need to be based here in the local area
- Valor Healthcare is the largest VA contractor that is responsible for delivering primary and behavioral healthcare services to over 50 VA CBOCs
- This property boasts a 3% annual rent increase, which is a great hedge against inflation and means that you will be receiving almost an 8.00% cap rate
- With a 10-Year lease in place (and a 90-day termination right throughout the lease), this is a very solid return from a tenant
- There is an additional land parcel in the back which is perfect for expansion for the Veteran Affairs down the line
Property Facts
Property Type
Office
Property Subtype
Medical
Building Size
7,222 SF
Building Class
B
Year Built
1984
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,006 SF
Building FAR
0.11
Lot Size
1.57 AC
Zoning
B-1 - Use Code: OFFICE BLD 1STY (1700)
Parking
33 Spaces (4.57 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Monument Signage
- Air Conditioning
Property Taxes
| Parcel Numbers | Improvements Assessment | $538,897 | |
| Land Assessment | $315,980 | Total Assessment | $854,877 |
Property Taxes
Parcel Numbers
Land Assessment
$315,980
Improvements Assessment
$538,897
Total Assessment
$854,877
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