For Sale
$1,632,828

152 Mcgregor RdDeLand, FL 32720

Florida medical office, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 6,495 square foot medical office building in DeLand, Florida, currently leased to Veterinary Innovative Partners under a 10-year Absolute NNN lease commencing June 30, 2021, and expiring June 29, 2031. The lease includes a five-year option with 2% annual rent bumps. The property boasts a 7.00% cap rate and a current NOI of $114,298, with a price per square foot of $251.40. The building, constructed in 2011, sits on a 2.29-acre lot and enjoys 100% occupancy, secured by a corporate guarantee. Located at 152 McGregor Rd, DeLand, FL 32720, this single-tenant property benefits from its strategic position within a thriving medical and retail corridor, surrounded by major retailers including Publix, ALDI, TJ Maxx, Starbucks, CVS, Heartland Dental, Chick-fil-A, and AdventHealth. The property's strong financial performance is further supported by the robust and recession-resistant veterinary services market, projected to experience significant growth in the coming years. This fee-simple ownership offers a stable, high-performing asset with considerable long-term potential in a tax-free state. The remaining lease term is approximately 6.6 years. The below-market rent provides significant upside potential.

Highlights

  • Below-market rent of $17.59 per square foot.
  • Located in a tax-free state.
  • Excellent location in a medical and retail corridor with major retailers nearby.
  • Strong tenant mix including Publix, ALDI, TJ Maxx, Starbucks, CVS, Heartland Dental, Chick-fil-A, and AdventHealth.
  • Absolute net lease with corporate guarantee.
  • High veterinary spending in the state.

Property Details for 152 Mcgregor Rd

Property type
Office properties, Medical offices
Square Feet
6,495 SF
Year Built
2011
Buildings
1
Lot Size (sq. ft)
99,752 SF

Location Insight

City
DeLand
County
Volusia
State
Florida
Latitude
28.9856361
Longitude
-81.3018393
152 Mcgregor Rd, DeLand, Florida

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152 Mcgregor Rd
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