For Sale
$2,794,354

16159 Myriad LnFort Myers, FL 33908

Medical Office Investment: 6.2% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant medical office building in Fort Myers, Florida. The 4,200 square-foot property, built in 2020, is 100% occupied by Heartland Dental under a corporate-guaranteed, net-lease agreement with 5.3 years remaining on the initial 10-year term. The lease includes three five-year renewal options and features 10% rent increases every five years. The property boasts a strong 6.20% cap rate, generating a net operating income (NOI) of $173,250 annually, with a price per square foot of $665.32. Situated on a 0.3-acre lot at 16159 Myriad Ln, Fort Myers, FL 33908, this location benefits from its proximity to numerous residential developments, including several apartment complexes and new home communities. Nearby educational institutions include Florida Southwestern State College and Florida Gulf Coast University, and several shopping centers are within easy reach. This is a prime investment opportunity in a thriving Florida market, offering stability and significant long-term potential. The property is a single-story building with excellent visibility and access. The tenant, Heartland Dental, is a large, established dental practice with a strong national presence. This offering provides a secure, passive income stream in a desirable location.

Highlights

  • Fee-simple, single-tenant medical office building in Fort Myers, FL, totaling 4,200 square feet.
  • 10-year corporate-guaranteed lease with Heartland Dental; 5+ years remaining on initial term, three 5-year renewal options, and 10% rent increases every five years.
  • 2020 construction; strong intrinsic value; located directly across from a new Class A apartment complex.
  • Excellent location near new residential developments, including multiple apartment complexes and new home communities.
  • Proximity to Florida Southwestern State College and Florida Gulf Coast University, plus several shopping centers.
  • Heartland Dental is a large, established dental practice with a national presence.

Property Details for 16159 Myriad Ln

Property type
Office properties, Medical offices
Square Feet
4,200 SF
Year Built
2020
Buildings
1
Stories
1
Lot Size (sq. ft)
13,068 SF
Units
1

Location Insight

City
Fort Myers
County
Lee
State
Florida
Latitude
26.4950756
Longitude
-81.9328081
16159 Myriad Ln, Fort Myers, Florida

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16159 Myriad Ln
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