Spring Hill Portfolio

Office for Sale
Catylist Listing ID: 30814176
Property Subtypes: Business Park
Building Size (RSF): 15,235 SF
Gross Building Area: See Agent
Sale Price: $4,250,000
Unit Price: $278.96 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Medical Office & Early Learning Building Portfolio
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/11/2022

Overview / Comments

This is a 2-Unit Tripple Net (NNN) Lease Investment opportunity. The two buildings are two of the three buildings within the Landover Commons Condominium development and may be purchased individually or as a portfolio. Unit 1, identified as 2977 is a pad site of 7,629/sf and is improved with a two-tenant medical office building containing 7,621/sf leasable space. This building was built in 2006. Unit 3 is identified as 3013 and is also a pad site of 7,629/sf with a building providing 7,614/sf of leasable area. This building was constructed in 2004 and is occupied by Bright Beginnings Preschool. The buildings are also available separately, Unit 1 for $2,400,000.00 and Unit 3 for $1,850,000.00.

Florida is an Income Tax Free State
Bright Beginnings Preschool recently executed a new 10 year Lease Agreement
The buildings are also available separately, Unit 1 for $2,400,000.00 and Unit 3 for $1,850,000.00.
Few landlord responsibilities with exterior property maintenance managed through the Condominium Association

Financials

Finance Data Year 2022
Net Operating Income $267,760 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Hernando
Tax ID/APN: R18 323 18 9052 0000 0010
Area Description: The property is located in a well-established trade area in Spring Hill. Spring Hill, which is located in Hernando County and about 40 miles north of Tampa, is densely populated and growing community with broad age demographics. The Tampa Bay region is dynamic and one of the strongest and most rapidly growing markets in the country.
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 2006
Zoning Description: PUD-O/P

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,921 74,620 123,105
Median Age: 41.52 47.23 47.86
Households: 4,393 30,734 51,637

Contact

Photograph of Listing Agent

Bob Morris, Jr

SVN COMMERCIAL ADVISORY GROUP
MFCRE Member
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