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31649151
31642725

4035 Evans Ave, Fort Myers, FL 33901

RB
FL SL3639802, GA 412701 (+4)
Matthews
JA
FL3558421
Matthews
MM
CA CA 01982943
Matthews
RC
CA 01986299
Matthews
Listed by Matthews
$8,780,559
59 days on market
Updated 39 days ago

National Spine & Pain Centers

Details
APN 36-44-24-P3-00800.001A
Property Type Office, Retail
Sub Type Grocery Store, Medical Office (+1)
Square Footage 13,044
Net Rentable (SqFt) 13,044
Cap Rate 6.50%
NOI $543,913
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 01/31/2037
Remaining Term 11
Lease Options Two (2) - Five (5) Year Options
Price per SqFt $642
Year Built 1984
Year Renovated 2022
Buildings 1
Stories 1
Acreage 1.390
Zoning CI - Commercial
Parking Spaces spaces
Investment Type Stabilized
Tenant Credit Credit Rated, Franchisee (+1)
Lease Commencement 02/01/2022
Ground Lease No
Ownership Fee Simple

10+ Yr Abs NNN | National Operator | Multi-Million Dollar Buildout

Marketing description

Matthews Real Estate Investment Services is pleased to exclusively present the opportunity to acquire an absolute net lease five OR ASC in Fort Myers, Florida, occupied by National Spine & Pain Centers, one of the largest pain management providers in the United States. The property is secured by a long-term lease following the tenant’s multi-million-dollar investment into the facility, demonstrating a strong commitment to the location.

The investment offers passive ownership through an absolute NNN lease structure, with the tenant responsible for maintenance, taxes, insurance, and major capital expenditures. Annual rental increases provide built-in income growth and a hedge against inflation, creating predictable long-term cash flow for investors.

Strategically located in Fort Myers within the rapidly growing Southwest Florida region, the property benefits from strong demographic fundamentals and continued in-migration from across the country. Southwest Florida also has one of the highest concentrations of residents over the age of 65 in the United States, a demographic that utilizes orthopedic, spine, and pain management services at significantly higher rates.

National Spine & Pain Centers operates more than 70 outpatient clinics across 25+ states and provides comprehensive pain management, orthopedic, and spine care services. The group’s physician-led model focuses on non-opioid treatment solutions, minimally invasive procedures, and advanced diagnostics delivered by more than 120 board-certified specialists. The essential nature of these services, combined with the region’s aging population and continued population growth, supports strong long-term demand and reinforces the stability of the tenant and the investment.

Investment highlights

  • Extensive Tenant Investment: The property is secured by a long term lease, demonstrating the tenant’s long-term commitment to the location following a multi-million-dollar investment into the facility
  • Absolute NNN Lease with Built-In Rent Growth: The property operates under an absolute NNN lease, providing passive ownership with the tenant responsible for maintenance, taxes, insurance, and major capital expenditures. Annual rental increases provide built-in income growth and a hedge against inflation.
  • High-Cost Medical Buildout: The property is purpose-built for a specialty ASC center with five operating. These facilities typically require significant medical buildout including procedure rooms, imaging infrastructure, and specialized equipment, making relocation costly and reinforcing tenant retention.
  • Strong Southwest Florida Population Growth: Fort Myers and the surrounding Lee County region continue to experience significant population growth driven by in-migration from across the country, supporting long-term demand for outpatient healthcare services.
  • Healthcare Demand from Aging Demographics: Southwest Florida has one of the highest concentrations of retirees in the United States. Older populations utilize orthopedic, spine, and pain management services at significantly higher rates, supporting strong long-term demand for the tenant’s services.

Listing Contacts

RB
FL SL3639802, GA 412701 (+4)
Matthews
JA
FL3558421
Matthews
MM
CA CA 01982943
Matthews
RC
CA 01986299
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$543,913.00
$45,326.08/mo

Valuation Metrics

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DSCR
6.19%
Cap Rate
6.19%
ROI

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Additional Information

Name
Kyle Matthews
License
License # CQ1066435, BK3554632 (FL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Name
Ryan Burke
License
SL3639802
Brokerage Phone
8668890550
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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