Commercial property for sale in Port Charlotte, Florida: 309.83 sq.m. № 1881219

Property description

Investor alert!! 4.79% 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 $93,942.

24 and the current net income is $76,578.41. 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.

Commercial property in Port Charlotte, Florida 309.83 sq.m. № 1881219

Property description