9.7% CAP Medical NNN Investment - Stone Water Professional Park
Listing was updated at: 01/10/2019
Property Overview
Price/Rent PSF $ 499,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 2,480
Date Available 01/10/2019
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Parking 30
Floors 1
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Description

Location
Located in a Waterford Office Park, Stonewood Professional Office Park.

Sale
PRIME NNN Medical Investment! Absolute NNN Lease with United Health Group with a 9.73% cap rate, in desirable Lake Magdalene in Lutz/North Tampa area, located near I-275 entrance, and convenient to N. Dale Mabry Hwy. Easily access from Carrollwood, Lutz, and USF medical area. This opportunity won't last long!

This newer construction Freestanding Waterford construction building was built in 2005 with recent tenant medical upgrades, tile floors, medical plumbing and sinks in exam rooms, is located in a 3 Professional Office building park (Stonewood Office Park) with CN (commercial neighborhood) zoning located directly on N. Florida Ave. with excellent visibility and signage. Owner owns .06 acre pad lot as well. Prime Investment opportunity with long term lease and renewals with WellMed, a United Health Group. WellMed network has over 16,000 physician offices in Florida and Texas. Current lease term expires May 2023, and has renewal options. Tenant pays all NNN expenses (Property taxes, Insurance, and CAM association fees). Base rent Net income after expenses is $48,564. Lease escalates by 1% annually at renewal in 2023. Current base lease rate is $19.58/SF, plus $7.03/SF NNN.
Tenant responsible for all repairs and maintenance other than roof and foundation.

Passive investment with Association in place to handle management of all common areas.
Perfect for any investor or 1031 exchange!

Please do not disturb tenant. Contact broker for information and appointment.

Location