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Views: 115 DOM: 191 Updated: 11.25.24 Posted: 06.14.24 Status: Active

Summary

Price $4,910,000
Built/Renov 2024
Tenant Pediatric Associates
Cap Rate 5.50%
Lease Type NN+
Guarantor Corp Rated
Size/SF 6,000
Lease Start 05-09-2024
#Units 38
Price/SF $818.33
Expiration 05-31-2034
Tenant Type Medical/Health
NOI $270,000
R. Term 9.5
Ownership Fee Simple
Rent/SF $45.00
Increases 3.0%/1/yrs
Pop 5Mi 192,945
Lot/AC 0.98
Options 2/5yrs/3%
AHHI 5Mi $75,474

Lease Highlights

  • New 2024 construction
  • Pediatric Associates recently executed a brand new 10-year lease with 2 (5-year) options to extend
  • The lease features 3% annual rental increases throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Pediatric Associates is strategically located on NE 9th Court, with access to a robust daily traffic count of 75,600 vehicles. The property serves as an outparcel to Target and is adjacent to Homestead Pavilion, a power center anchored by Sprouts Farmers Market. The immediate area is surrounded by other well-known national tenants, including Kohl’s, TJ Maxx, Planet Fitness, Ross Dress for...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Pediatric Associates
  • Guarantor:Corp Rated
  • Company:Pediatric Associates Holding Co.
  • # Units:38
  • Tenant S&P: B
  • Moody’s: B2
  • Stock:Private

About Tenant

Pediatric Associates is Florida’s largest privately owned primary care pediatric practice offering families comprehensive services, including X-ray and state-certified laboratories. They are open...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 19,707 130,651 203,709
2024 Total Population : 20,251 129,835 199,264
2024 Employed Civilian Pop : 9,476 64,856 96,603
2024 Total Businesses : 404 3,190 4,613
2024 Average Household Income : $ 94,448 $ 85,305 $ 83,684
2024 Total Consumer Spending : $ 479 M $ 3058 M $ 4540 M
2024 Median Age : 36 35 35
2024 Total Households : 5,804 40,536 61,361
2024 Pop Age 25+: Bachelor's Degree : 2,116 14,444 20,481
2024 Average Home Value : $ 493,567 $ 473,648 $ 472,959
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
SW 152nd Ave 2022 9,600 0.17 mi
SW 312th St SW 152nd Ave 2009 19,600 0.27 mi
Southwest 312th Street NE 30th Ave 2022 33,000 0.33 mi
NE 26th Ave 2022 6,700 0.42 mi
NE 4th St 2022 2,000 0.46 mi
Newton Rd 2022 16,000 0.53 mi
W Dade Expy SW 312th St 2009 33,800 0.61 mi
NE 3rd Ct 2022 2,000 0.61 mi
Southwest 152nd Avenue SW 298th Ter 2022 10,000 0.64 mi
Homestead Extension of Florida's Turnpike SW 312th St 2021 50,500 0.83 mi

Listing Broker

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