For Sale
$2,081,089

800 Dunn AveJacksonville, FL 32218

High-yield, NNN-leased medical building.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 5,491 square foot Class A medical office building in Jacksonville, Florida. Located at 800 Dunn Ave, this single-tenant property boasts a 100% occupancy rate with Affordable Care LLC, a credit-rated national tenant with a corporate guarantee. The NNN lease, featuring 2% annual rent bumps, has a remaining term of 6.5 years with two five-year options. The property, built in 1984 and renovated in 1990, sits on a 1.19-acre lot and offers ample parking (10 spaces per 1,000 sq ft). The asking price is $2,081,089, representing a compelling $379 per square foot and a 7.00% cap rate with a current NOI of $145,677. The property is zoned Commercial Community/General-1 (CCG-1) and benefits from a high-traffic location adjacent to a Publix-anchored shopping center. This stabilized investment offers a passive income stream with significant upside potential, driven by the tenant's strong financial performance and the robust growth of the Jacksonville market. The lease commenced November 4, 2020, and expires November 30, 2030. This is an ideal investment for those seeking a stable, high-return asset in a thriving market. The property features a strong national tenant, Affordable Care LLC, the seventh-largest Dental Service Organization (DSO) in the United States. Jacksonville's strong job growth and population increase contribute to the high demand for medical services in this area.

Highlights

  • Investment-grade tenant: Affordable Care LLC, a top-7 national Dental Service Organization (DSO) with 450+ locations, ensures strong financial stability.
  • High-growth market: The $1.1 billion US dental implant market is projected to expand at a 9.8% CAGR, fueled by a large aging population.
  • Large and growing industry: The $176 billion dentistry industry's consistent growth enhances investment security.
  • Prime Jacksonville location: Situated in Florida's largest city, a major metro area with numerous Fortune 500 companies and over 1.3 million residents.
  • Rapid market growth: Jacksonville's MSA boasts 13% post-COVID growth and a 33.3% increase in North Jacksonville over the past decade.
  • Strong job market: Jacksonville's low unemployment and above-average wage growth drive population increase and medical service demand.

Property Details for 800 Dunn Ave

Property type
Retail properties, Office properties
Class
A
Year Built/Renovated
1984/1990
Buildings
1
Lot Size (sq. ft)
51,836 SF

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.429483616341
Longitude
-81.657572538472
800 Dunn Ave, Jacksonville, Florida

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800 Dunn Ave
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