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Unit Size: 9,180 SF
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Condo Use: Medical
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Price: $2,500,000 USD
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Sale Type: Investment
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Price/SF: $272.33 USD
Description
A fully stabilized, single-tenant medical office condo offered on Ormond Beach's
busiest commercial corridor.
Granada Professional Center presents the opportunity to acquire a portfolio of
office condo units within one of Ormond Beach's most established professional
complexes, 100% occupied by a single, long-tenured medical tenant. Offered at
$2,500,000, with a 6.96% cap rate on current weighted average NOI of $173,896
over recently signed 5-year lease from Coastal Pain & Neurology Centers, a
multi-physician specialty practice that has operated continuously at this location
since 2000.
The 9,180 square foot unit is built out for full medical use, featuring high ceilings,
storm-rated doors and windows, and ample on-site parking, with prominent
monument signage along W. Granada Boulevard (State Road 40) - carrying over
33,500 vehicles per day. With a 25-year tenured anchor, a broad insuranceaccepting
patient base, and the low-maintenance ownership structure of an
office condo, this offering is well-suited for a private investor or 1031 exchange
buyer seeking dependable, healthcare-driven income in a high-demand Florida
market.
Sale Notes
A fully stabilized, single-tenant medical office condo offered on Ormond Beach's
busiest commercial corridor.
Granada Professional Center presents the opportunity to acquire a portfolio of
office condo units within one of Ormond Beach's most established professional
complexes, 100% occupied by a single, long-tenured medical tenant. Offered at
$2,500,000, with a 6.96% cap rate on current weighted average NOI of $173,896
over recently signed 5-year lease from Coastal Pain & Neurology Centers, a
multi-physician specialty practice that has operated continuously at this location
since 2000.
The 9,180 square foot unit is built out for full medical use, featuring high ceilings,
storm-rated doors and windows, and ample on-site parking, with prominent
monument signage along W. Granada Boulevard (State Road 40) - carrying over
33,500 vehicles per day. With a 25-year tenured anchor, a broad insuranceaccepting
patient base, and the low-maintenance ownership structure of an
office condo, this offering is well-suited for a private investor or 1031 exchange
buyer seeking dependable, healthcare-driven income in a high-demand Florida
market.
John Trost
SVN | Alliance Commercial Real Estate Advisors
