116 Parsons Park DrBrandon, FL 33511

Property Details for 116 Parsons Park Dr

Year built

2005

Lot size

3.87 AC

Property size (Sq ft)

18,964 SF

Property type

Office properties

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a fee-simple interest in an 18,964 square foot medical office building located at 116 Parsons Park Dr, Brandon, FL 33511. The property, built in 2005, is a two-story building situated on a 3.87-acre lot and boasts 6.5 parking spaces per 1,000 square feet. Currently 100% occupied by AdventHealth Medical Group, a leading healthcare provider with an investment-grade credit rating, the property is under a net lease (NNN) with a remaining term of 5.4 years (expiring March 31, 2030). The lease commenced March 24, 2020, and includes attractive 2.5% annual rent bumps. The current asking price is $6,000,000, representing a price per square foot of $316.39 and a 6.50% cap rate, with a current NOI of $390,089. This single-tenant, family and internal medicine clinic benefits from a strong location within a thriving medical corridor in the Tampa MSA, offering superior visibility and high traffic counts. The property's location in Florida provides an additional benefit of being in an income tax-free state. This is a rare opportunity to acquire a high-quality, stable investment with a best-in-class operator in a desirable market.

Location Insight

City

Brandon

County

Hillsborough

State

Florida

Latitude

27.9268

Longitude

-82.2844

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