Central Sarasota Surgery Center

Office for Sale
Catylist Listing ID: 30661552
Property Subtypes: Medical
Building Size (RSF): 12,175 SF
Gross Building Area: See Agent
Gross Land Area: 0.47 Acres
Sale Price: $5,750,000
Unit Price: $472.28 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Sarasota Surgery Center
Class of Space: Class A
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 5.56%
Average Occupancy Rate: 100
Last Updated: 11/15/2020

Overview / Comments

SVN Commercial Advisory Group is pleased to offer for sale to qualified investors 100% fee simple interest in this absolute net leased single tenant surgery center (the "Property") centrally located in Sarasota, FL. The Property is a rare ambulatory surgery center in that it is licensed to operate six operating rooms. The single tenant is a Best-in-Class operator consisting of a joint-venture partnership lead by a national ambulatory surgical center operator owned by a publicly traded, national diversified healthcare services company with 110,000 employees, operating a network that includes 65 hospitals and over 510 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, urgent care and imaging centers and other outpatient facilities.

The primary term of the 15 year lease commenced in January of 2015 and guarantees the owner 1% annual rental increases. The lease is an absolute net lease with no landlord responsibilities (except "capital" repairs or replacements to the Property's structure) so the tenant pays directly all operating expenses for services, utilities, property taxes and insurance as well as repairs and replacements to HVAC and roof systems.

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Zoning: OPI - OFFICE PROFESSIONAL
Area Description: Centrally located in Sarasota with proximity to both Doctor's Hospital and Sarasota Memorial Hospital. The surgery center is located on a medical office campus of Intercoastal Medical Group physician practice groups that cover a broad range of medical practice areas.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1985
Year Renovated: 2015
Zoning Description: OPI - Office Professional
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,710 98,354 176,051
Median Age: 40.55 45.33 47.44
Households: 6,797 43,811 79,941

Contact

Photograph of Listing Agent

Bob Morris, Jr

SVN COMMERCIAL ADVISORY GROUP
MFCRE Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither My Florida Commercial Real Estate nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.