Millennium Physician Group
200+ Location Operator | Newly Extended Lease | 60% Population Growth Since 2010 | NNN
Marketing description
- Newly Extended Lease: The property is under a newly executed 10-year lease, demonstrating the tenant’s commitment to this location. This lease includes 2% annual rental increases, providing investors with a strong hedge against inflation and an increasing average annual return throughout ownership.
- Hands-off Investment: The investment offers investors passive ownership, with the tenant handling all day-to-day repairs and maintenance, taxes, insurance.
- Affluent Area & Strong Healthcare Demand: With approximately 25% of the surrounding population age 65 or older, combined with household incomes and home values above the Florida average, the area demonstrates strong demand for healthcare services and the financial capacity to support long-term medical spending.
- Growing Market: With a 60% population growth since 2010 St. Johns County is one of the fastest-growing counties in Florida and the U.S and continues to see strong year over year population growth.
- Medical Synergy and Hospital Proximity: Located Two Miles from UF Health Flagler Hospital and with strategic location on St. Johns Medical Park Drive, the subject property benefits from strong medical synergy with surrounding health care neighbors increasing probability of referrals and long term tenancy.
- Leading Provider: Recognized as one of the largest comprehensive primary care practices, Millennium Physician Group staffs 750+ healthcare providers and has 200+ locations. The esteemed reputation and strong corporate backing make this a secure and trusted investment, firmly established as a cornerstone of the community.
- Long-Standing Presence & Commitment to Location: With over 25 years of operating history at this location, the practice is well-established within the local medical community. Demonstrating continued commitment, Millennium Physician Group recently executed a new 10-year lease.
- Growing Billion Dollar Market: The U.S. primary care market exceeds $260 billion and is projected to grow at ~4–5% annually through 2030, driven by population growth, aging demographics, and increased demand for preventive care. Americans make over 1 billion physician office visits each year, underscoring the critical role of primary care providers in the healthcare system.
Investment highlights
Matthews Real Estate Investment Services is pleased exclusively to present the opportunity to acquire a single-tenant medical office investment leased to Millennium Physician Group, one of the nation’s largest independent primary care providers.
The property is secured by a newly executed 10-year lease, demonstrating the tenant’s long-term commitment to this location. The lease includes 2% annual rental increases, providing investors with predictable income growth and increasing cash flow throughout the hold period. The passive lease structure offers stable ownership with contractual rent escalations designed to enhance long-term returns.
Located in St. Johns County—one of the fastest-growing counties in Florida and the United States, with over 60% population growth since 2010—the property benefits from strong demographic tailwinds supporting long-term healthcare demand. Positioned just two miles from UF Health Flagler Hospital and within the established St. Johns Medical Park medical corridor, the property benefits from strong healthcare synergy, enhancing patient accessibility, referral networks, and long-term tenant stability.
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