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Views: 74 DOM: 140 Updated: 08.22.24 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 1.7
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 2 years 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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Maps

  • 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

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