MaxHealth

1720 Manatee Avenue East, Bradenton, FL 34208

$1,824,000

Cap Rate 6.00%

Views: 107 DOM: 208 Updated: 10.03.24 Posted: 04.20.24 Status: Active

Summary

Price $1,824,000	Built/Renov 2003/2014	Tenant MaxHealth
Cap Rate 6.00%	Lease Type Double NN	Guarantor Corporate
Size/SF 8,463	Lease Start 05-01-2024	#Units 55
Price/SF $215.53	Expiration 04-30-2026	Tenant Type Medical/Health
NOI $109,506	R. Term 1.5	Ownership Fee Simple
Rent/SF $12.94	Increases 2.0%/1/yrs	Pop 5Mi 194,491
Lot/AC 1.01	Options 0/0yrs	AHHI 5Mi $75,240

Lease Highlights

MaxHealth has 1 year remaining on the current lease term
The lease features 2% annual rental escalations
Tenant is paying below market rents
Limited landlord responsibilities
Corporate guaranteed lease

Location Description

MaxHealth is strategically located at the signalized, hard corner intersection of Manatee Avenue East and 18th Street East, with access to a substantial combined daily traffic count of 49,500 vehicles. The property boasts excellent visibility with significant street frontage and a large monument sign, along with multiple points of ingress/egress. Additionally, it is situated within a dense...

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Key Features

Signalized intersection
Build to suit
Dense retail corridor
Near major nationals
Hospital close
Strong demographics
Income tax free state
Below Market Rent
Annual rent increases
Corporate Guarantee

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Links

MaxHealth Wikipedia Bradenton, Florida Zip Code 34208 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: MaxHealth
Guarantor:Corporate
Company:Arsenal Capital Partners
# Units:55
Stock:Private

About Tenant

MaxHealth is a network of primary care medical centers that provides convenient, affordable care for patients in communities along Florida's west and southwest coasts. The organization's...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,912	77,806	194,236
2023 Total Population :	10,774	77,679	194,491
2023 Employed Civilian Pop :	4,062	32,131	83,147
2023 Total Businesses :	312	3,639	7,920
2023 Average Household Income :	$ 56,837	$ 71,521	$ 75,240
2023 Total Consumer Spending :	$ 188 M	$ 1911 M	$ 5310 M
2023 Median Age :	33	40	45
2023 Total Households :	3,770	30,528	80,905
2023 Pop Age 25+: Bachelor's Degree :	600	7,562	21,675
2023 Average Home Value :	$ 174,710	$ 259,010	$ 289,088

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Manatee Avenue East	Manatee Ave E	2022	19,500	0.15 mi
Manatee Avenue East	15th St E	2022	19,500	0.15 mi
Manatee Avenue East	14th St E	2022	20,500	0.33 mi
Manatee Avenue East	12th St E	2022	19,000	0.41 mi
Manatee Avenue East	4th Ave E	2022	20,500	0.55 mi
7th Ave E	10th St E	2019	20,000	0.56 mi
15th St E	14th Ave E	2005	11,700	0.62 mi
Manatee Ave W	10th St E	2019	20,500	0.65 mi
7th Avenue East	9th St E	2022	19,000	0.66 mi
15th Street East	15th Ave E	2022	12,300	0.72 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
26696 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
20383 Views
49 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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