For Sale
$1,485,650

1400 Main StBells Mill, FL 32428

High-yield, 10+ year lease, medical office.

Overview

Added:
Dec 11, 2024
Days on market:
114
This single-tenant, 4,205 square foot medical office building in Chipley, Florida, presents a compelling investment opportunity. Located at 1400 Main St, this fee-simple property boasts a 15-year net lease (NN) with a corporate guarantee, providing a stable and predictable income stream. The current lease, commencing September 20, 2019, and expiring September 30, 2034, has approximately 9.9 years remaining. The tenant, a national eye care operator, enjoys 100% occupancy, generating a substantial net operating income (NOI) of $111,423 annually, representing a 7.50% cap rate. Built in 2009, this one-story building sits on a 0.73-acre lot and benefits from a 2% annual rent increase. The property's strategic location, adjacent to Northwest Florida Community Hospital and near major retailers like Tractor Supply and McDonald's, ensures high visibility and accessibility. Lease options include 3 and 5-year extensions. The asking price is $1,485,650, translating to $353.31 per square foot. This investment offers a secure, long-term passive income opportunity in a growing Florida market.

Highlights

  • $1,485,650 asking price for a 4,205 SF medical office building in Chipley, FL.
  • Net lease with a corporate guarantee, offering a passive income stream.
  • 7.50% cap rate with a 9.9-year remaining lease term (15-year initial term, expiring 09/30/2034).
  • 2% annual rent bumps provide consistent income growth.
  • Located in a high-traffic area near major retailers and Northwest Florida Community Hospital.
  • Strong tenant in a growing healthcare market in the Florida Panhandle.

Property Details for 1400 Main St

Property type
Retail properties, Office properties
Square Feet
4,205 SF
Year Built
2009
Stories
1
Lot Size (sq. ft)
31,799 SF

Location Insight

City
Bells Mill
County
Washington
State
Florida
Latitude
30.6823987
Longitude
-85.56121
1400 Main St, Bells Mill, Florida

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1400 Main St
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