Pediatrica Health
Hospital Adjacent | Growing Pediatric Operator | High Growth FL Market
Marketing description
- Hands-Off Investment: The tenants pays for maintenance/repairs and all day-to-day expenses under this Modified Net lease, which is ideal for an out-of-state investor and those seeking passive income.
- Newly Extended Lease: The property is under a newly executed 5-year lease, demonstrating the tenant’s commitment to this location. This lease includes favorable 2% annual rental increases, providing investors with a strong hedge against inflation and an increasing average annual return throughout ownership.
- Pride of Ownership: Custom built by a long-standing practice owner and well maintained since completion, the property reflects strong pride of ownership. The building features durable construction and a metal roof, providing long-term structural integrity and reduced maintenance. This quality construction helps minimize future capital expenditures for investors.
- Below-Market Rent: Current rents are below market, with comparable medical space achieving mid-$20s per square foot. This creates a mark-to-market opportunity at renewal while keeping the space highly competitive and easy to re-tenant amid strong local demand.
- Low Area Vacancy Rate: The surrounding area maintains a 4.7% vacancy rate, well below the ~8% state average, demonstrating strong demand for medical space and providing landlords leverage during lease renewals and extensions while supporting favorable re-tenanting conditions.
- Proximity to Major Hospital: Located near AdventHealth Zephyrhills Hospital and surrounded by established medical offices, the property benefits from strong referral synergies, patient convenience, and sustained demand for healthcare space, supporting long-term tenancy and re-tenanting potential.
- Rapid Population Growth: Pasco County and the Zephyrhills area have experienced strong population growth of approximately 24% over the past six years. This expansion has increased demand for housing, infrastructure, and healthcare services, supporting long-term fundamentals for medical providers and healthcare real estate in the region.
Investment highlights
Matthews Real Estate Investment Services™ is pleased to exclusively present the opportunity to acquire a single-tenant, net-leased medical office property in Zephyrhills, Florida leased to Pediatrica Health, a growing pediatric operator with 20+ locations across Florida and Texas.
The property operates under a NNN lease structure, offering passive ownership as the tenant is responsible for maintenance, repairs, and operating expenses. A recently executed five-year lease extension underscores the tenant’s commitment to the location while providing 2% annual rent increases, creating a hedge against inflation and steadily growing income.
The tenant, Pediatric Partners of Zephyrhills, has served the community for more than 25 years and remains a cornerstone pediatric provider in the region. Staffed by five providers, the practice maintains stable operations and consistent patient demand throughout the greater Pasco County market.
The property benefits from strong healthcare and demographic fundamentals, including proximity to AdventHealth Zephyrhills Hospital and an established medical corridor that supports referral synergies and sustained demand.
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