$1,405,000
$1,499,000
6.3%For more information regarding the value of a property, please contact us for a free consultation.
5,410 SqFt
SOLD DATE : 05/20/2022
Key Details
Sold Price $1,405,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 5,410 sqft
Price per Sqft $259
Subdivision Cypress Lakes Prof Center
MLS Listing ID U8156562
Sold Date 05/20/22
Construction Status Inspections
HOA Y/N No
Year Built 2006
Annual Tax Amount $12,523
Lot Size 3.690 Acres
Acres 3.69
Property Description
Fully leased medical investment property. Free standing building 100% leased to BayCare Medical Group, Inc. a wholly owned subsidiary of BayCare Health System. Tenant has been at this location since 2006. They recently upgraded the building showing a strong commitment to the property. The lease term has approximately 42 months remaining and the tenant has no options to renew providing a buyer with strong upside. Very rare north Pinellas County medical investment property. Opportunity to acquire a commercial real estate investment with a tenant that is internet and pandemic resistant. Current below market rental rate provides significant financial upside. Extremely tight market with significant barriers to entry for new commercial construction. Above market parking ratio and easy access from fully signalized intersection of Tampa Road and Pine Avenue.
Location
State FL
County Pinellas
Community Cypress Lakes Prof Center
Zoning C-2
Direction N
Interior
Cooling Central Air
Building
Story 1
Foundation Slab
Lot Size Range 2 to less than 5
Structure Type Block, Stucco
New Construction false
Construction Status Inspections
Others
Ownership Corporation
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
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Bought with COASTAL PROPERTIES GROUP
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