Average square foot calculated using Size range provided by listing agent.
Description
Investor alert!! 4.79% Cap Rate. Free-standing medical office building located on Toledo Blade Blvd in Port Charlotte leased to Heartland Dental! Annual Average Daily Traffic Count on Toledo Blade Blvd 20, 000! Roof replaced 4/6/2022. Amazing location less than 0.3 miles from Tamiami Tr and less than 6 miles from I75!Sign replaced in 2024. The current lease in place expires July 31, 2028. Tenant has three (3) renewal terms of f ive (5) years each in duration. The current gross income is $93, 942.24 and the current net income is $76, 578.41. Real estate tax + insurance are passed through to the tenant, and the tenant handles the landscaping. Renewal Term 1 is a 15% increase at $112, 669.22 annual rent ($33.79 PSF) for years 6-10. Renewal Term 2 and 3 to be negotiated at Fair Market Value. Tenant has the Right of First Refusal. Heartland Dental has 1, 700+ supported offices and 2, 800+ supported doctors across 38 states and they employ over 20, 000 team members. Do not disturb tenant.Show Description
MLS® NumberC7513515
Locker
Ensuite LaundryNo
Balcony
Furnished
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Exposure
Exterior
GarageNo
Approx. Age2005
Stories1
Pets
Corp Number
Included in Maintenance Fee
Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance
Utilities
Heat
A/CCentral Air
Heating Fuel
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