Investor alert!! 4.82% Cap Rate.
Free-standing medical office building located on Toledo Blade Blvd in Port Charlotte leased to Heartland Dental!
Annual Average Daily Traffic Count on Toledo Blade Blvd 20,000!
Roof replaced 4/6/2022.
Amazing location less than 0.3 miles from Tamiami Tr and less than 6 miles from I75!sign replaced in 2024.
The current lease in place expires July 31, 2028. Tenant has three (3) renewal terms of f ive (5) years each in duration.
The current gross income is $91,599.72 and the current net income is $72,323.79. Real estate tax + insurance are passed through to the tenant, and the tenant handles the landscaping.
Renewal Term 1 is a 15% increase at $112,669.22 annual rent ($33.79 PSF) for years 6-10. Renewal Term 2 and 3 to be negotiated at Fair Market Value.
Tenant has the Right of First Refusal.
Heartland Dental has 1,700+ supported offices and 2,800+ supported doctors across 38 states and they employ over 20,000 team members.
Do not disturb tenant.
