NNN Leased (Baycare) Medical Investment Property
This 4,991 SF Little Road medical office has been recently leased to Baycare Medical Group for a new 7 year term and the tenant has recently completed their interior tenant improvements for a primary care medical facility. Lease commencement was June 27, 2022 and the expiration date is June 30, 2029. This medical condo unit, Unit B, is located within a 9,982 SF building (Units A & B). The condominium consists of three (3) Units; Units A, B and C. This 1.88 acre condominium complex offers a 6 space per 1000 SF parking ratio, making it ideal for high traffic practitioners as the site is located seconds from River Crossings Shopping Center, one of the busiest Publix shopping centers in the area. Other neighbors include Starbucks, McDonalds, Monticciolo Family Dentistry, Prestige Dermatology, Verizon Wireless, and Dunkin Donuts. The Year 1 Net Operating Income is $99,820 with 3% annual escalation throughout term with no rent holiday. The tenant funded their own interior buildout and enjoys a below market rent; offering added longterm security to a new owner. Located in the New Port Richey area east of US 19 and north of State Road 54 with close proximity to the Suncoast, offering easy access to all surrounding areas.