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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
Area 44 - Ormond N Of 40, S Tomoka River, E Of Us1
Direction Located on the north side of Granada Blvd just east of Nova Road.
Region Ormond Beach
City Region Ormond Beach
Exterior
Parking Features Other
View Y/N No
Building
Lot Description Other
Others
Tax ID x
Listed by Carl Lentz • SVN Alliance Commercial Real Estate Advisors
