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29957144
29791168

6640 78th Ave N, Pinellas Park, FL 33781

AV
CA 01910589
Acuity Private Capital
BW
CA 01826546
Acuity Private Capital
Listed by Acuity Private Capital
$6,175,000
106 days on market
Updated 78 days ago

West Park Surgery Center | Lease Guaranteed by PPOA

Details
APN 30-30-16-96680-000-0040
Property Type Office
Sub Type Medical Office
Square Footage 8,016
Net Rentable (SqFt) 8,016
Units 1
Cap Rate 6.00%
NOI $367,461
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 12
Lease Expiration 08/31/2037
Remaining Term 11.3
Rent Bumps Yes
Lease Options 2-5 Year Options
Price per SqFt $770
Broker Co-Op Yes
Class B
Year Built 2005
Year Renovated 2020
Buildings 1
Stories 1
Acreage 0.570
Zoning CPUD
Parking Spaces 21 spaces
Parking Per SqFt 2.62
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2025
Occupancy Date 06/18/2018
Ownership Private

Highly Specialized Single Tenant Surgery Center | ~11.5 Year NNN Lease | Tampa Bay, FL Area

Marketing description

West Park Surgery Center is a single tenant ambulatory surgical facility located in Pinellas Park, Florida, within the Tampa-St. Petersburg-Clearwater MSA (Tampa Bay Area). The property’s long term NNN lease is guaranteed by Physician Partners of America (PPOA), which has 30 clinic locations in TX & FL. The subject property offers convenient access via 78th Avenue North and is proximate to major healthcare providers and regional medical corridors. This facility serves a growing suburban patient population, with high-demand outpatient surgical services.

This investment opportunity features a long-term NNN lease that minimizes the landlord’s responsibilities. The lease includes very attractive 4%/year rent escalations, tenant responsibility for most major systems, and institutional lease guarantees, providing stable/reliable cash flow. As an AAAHC-accredited, fully operational facility, West Park Surgery Center offers an established asset with inherent replacement cost advantages.

The tenant’s 20+ year operational history at this facility and their newly signed lease extension, make this property ideally suited for 1031 exchange/private investors who are interested in stable and predictable long-term returns.

Investment highlights

-HIGHLY SPECIALIZED SURGERY CENTER | ~11.5 YEAR NNN LEASE

-VERY ATTRACTIVE FLORIDA LOCATION & 4% ANNUAL RENT INCREASES

-PASSIVE NNN STRUCTURE | STRONG LONG-TERM INCOME SECURITY

-ESTABLISHED 20+ YEAR OPERATIONAL HISTORY @ THIS FACILITY

-MISSION-CRITICAL INFRASTRUCTURE & HIGH BARRIERS TO ENTRY

Listing Contacts

AV
CA 01910589
Acuity Private Capital
BW
CA 01826546
Acuity Private Capital
Listed by Acuity Private Capital

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$367,461.00
$30,621.75/mo

Valuation Metrics

0
DSCR
5.95%
Cap Rate
5.95%
ROI

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Additional Information

Name
Scott Reid
License
CQ1059597
Brokerage
ParaSell, Inc
Brokerage Phone
949-942-6585
Title
Broker of Record
Brokerage Address
940 S Coast Dr, Suite 100, Costa Mesa, CA 92626
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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