Listed by SRS Real Estate Partners Tampa, SRS Real Estate Partners South Florida
$1,769,000
Optum Health - Early Lease Extension
Details
APN 25-19-24-0003-000-15500
Property Type Retail
Sub Type Storefront
Square Footage 6,000
Units 2
Cap Rate 7.67%
NOI $135,679
Occupancy 100%
Tenancy Multi
Brand/Tenant Optum Health
Lease Type NN
Rent Bumps Yes
Lease Options 1 (5-Year)
Price per SqFt $295
Broker Co-Op Yes
Year Built 1986
Year Renovated 1996
Buildings 1
Stories 1
Acreage 0.890
Zoning Community Commercial
Parking Spaces 38 spaces
Parking per 1,000 SqFt 6.33
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange
7.67% cap rate | TOP GROWTH MARKET IN US
Marketing description
Introducing a prime investment opportunity with a solid tenant base at 803 E. Dixie Avenue in Leesburg, Florida. This property boasts a corporate guarantee from UnitedHealth Group (NYSE: UNH) and a long-term NN lease with 3% annual increases, offering stability and growth potential to investors.
With a net operating income of $134,376 and a competitive cap rate of 7.42%, this 6,000 SF property on 0.89 acres presents a lucrative prospect in a developing area. The newly acquired business by the tenant in 2023 adds future value, supported by the high traffic of 29,500 vehicles per day and proximity to major amenities, including the new 49.5-acre mixed-use development and healthcare facilities.
Secure your place in a flourishing market with a strong tenant and promising lease terms. Don't miss out on this exclusive chance to own a profitable asset in Leesburg's 803 E. Dixie Avenue.
Investment highlights
- Neighboring UF Health Leesburg Hospital & 264-Unit Multifamily Development
- BRAND NEW ROOF/ BRAND NEW HVACS
- EARLY LEASE EXTENSION
- 7+ Years Remaining | Options to Extend | Annual Rental Increases | Established Brand | Second Tenant | Below Market Rent
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Nearby Hospital & High School
- Along E. Dixie Ave (29,500 VPD) | U.S. Hwy 441 (50,000 VPD) | Excellent Visibility & Access
- Strong Demographics in 5-mile Trade Area
Listing Contacts
Listed by SRS Real Estate Partners Tampa, SRS Real Estate Partners South Florida
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$135,679.00
$11,306.58/mo
Valuation Metrics
0
DSCR
7.67%
Cap Rate
7.67%
ROI
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