170 Professional GlnLake City, FL 32055

Property Details for 170 Professional Gln

Year built

1996

Construction

FRAME

Lot size

0.81 AC

Property size (Sq ft)

9,869 SF

Property type

Medical offices

Property subtype

Medical centers

APN

05-4S-17-07610-102

APU

054S1707610102

Description

This exceptional investment opportunity presents a fee-simple ownership of a 10,000-square-foot veterinary hospital in Lake City, Florida. The property, built in 1996 and situated on a 0.81-acre lot at 170 SW Professional Glen, 32055, enjoys a prime location near US Highway 90 and Interstate 75, ensuring high visibility and accessibility. Currently operating under a Net Lease (NNN) agreement with a national veterinary operator, American Veterinary Group, the lease commenced August 4, 2022, and extends until August 31, 2037, with a remaining term of 12.7 years. The lease includes a robust 2% annual rent increase, mitigating inflation risks and guaranteeing consistent revenue growth. The property boasts 100% occupancy and a strong Net Operating Income (NOI) of $112,378, resulting in an attractive 6.52% cap rate. The tenant provides comprehensive veterinary services, making this a recession-resistant investment in a growing industry. This is a single-tenant, fee-simple ownership with minimal landlord responsibilities, offering a passive investment opportunity with significant long-term potential. The property's strategic location and the tenant's strong financial performance make this a compelling investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $2,131,210

  6.5%

  $1,967,271

  7%

  $1,826,752

• Comparable approach

  Method

  Valuation

  Relative Method

  $671,191

  Geo Method

  $671,191

• Alternative Use

  Use

  Valuation

  Residential

  $2,439,416

  Hospitality

  $2,234,492

  Educational

  $1,859,071

  Medical

  $1,923,008

  Retail

  $2,891,889

Location Insight

City

Lake City

County

Columbia

State

Florida

Latitude

30.1678

Longitude

-82.6389

CBSA code

29380

CBSA name

LAKE CITY, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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