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$ 2,500,000
Est. payment | /mo
9,180 SqFt
$ 2,500,000
Est. payment | /mo
9,180 SqFt
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 9,180 sqft
Price per Sqft $272
MLS Listing ID 1225921
Property Sub-Type Office
Source Daytona Beach Area Association of REALTORS®
Property Description
A fully stabilized, single-tenant medical office condo offered on Ormond Beach's busiest commercial corridor.
Granada Professional Center presents the opportunity to acquire a portfolio of office condo units within one of Ormond Beach's most established professional complexes, 100% occupied by a single, long-tenured medical tenant. Offered at $2,500,000, with a 6.96% cap rate on current weighted average NOI of $173,896 over recently signed 5-year lease from Coastal Pain & Neurology Centers, a multi-physician specialty practice that has operated continuously at this location since 2000.
The 9,180 square foot unit is built out for full medical use, featuring high ceilings, storm-rated doors and windows, and ample on-site parking, with prominent monument signage along W. Granada Boulevard (State Road 40) - carrying over 33,500 vehicles per day. With a 25-year tenured anchor, a broad insurance-accepting patient base, and the low-maintenance ownership structure of an office condo, this offering is well-suited for a private investor or 1031 exchange buyer seeking dependable, healthcare-driven income in a high-demand Florida market.
Stabilized single-tenant medical office condo
100% leased to long-tenured medical tenant
Cap Rate 6.96%
Strong visibility on Ormond Beach's prime corridor
Granada Professional Center presents the opportunity to acquire a portfolio of office condo units within one of Ormond Beach's most established professional complexes, 100% occupied by a single, long-tenured medical tenant. Offered at $2,500,000, with a 6.96% cap rate on current weighted average NOI of $173,896 over recently signed 5-year lease from Coastal Pain & Neurology Centers, a multi-physician specialty practice that has operated continuously at this location since 2000.
The 9,180 square foot unit is built out for full medical use, featuring high ceilings, storm-rated doors and windows, and ample on-site parking, with prominent monument signage along W. Granada Boulevard (State Road 40) - carrying over 33,500 vehicles per day. With a 25-year tenured anchor, a broad insurance-accepting patient base, and the low-maintenance ownership structure of an office condo, this offering is well-suited for a private investor or 1031 exchange buyer seeking dependable, healthcare-driven income in a high-demand Florida market.
Stabilized single-tenant medical office condo
100% leased to long-tenured medical tenant
Cap Rate 6.96%
Strong visibility on Ormond Beach's prime corridor
Location
State FL
County Volusia
Direction Located on the north side of Granada Blvd just east of Nova Road.
Exterior
Parking Features Other
Building
Lot Description Other
Others
Senior Community No
Tax ID x
Listed by SVN Alliance Commercial Real Estate Advisors
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William Dailey