NNN Pediatric Medical Office
For Sale
Contact for pricing
1403 Medical Plaza Drive, Sanford, FL 32771
Two medical office suites are fully leased under NNN terms with annual rent escalations to Pediatric Associates.
Property Size3,475 SF
Price / SF$338.42
Days on Market101
Property Features for 1403 Medical Plaza Drive
General Information
Standard status
Active
Size
3,475 SF
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$80,569
Building Details
Year Built
1983
Units
2
Tenancy
Single
Listing Agency:
Peranich Huffman Net Lease Group
Listed By:
Jonathan Peranich · License #617210
Source:
Crexi
Added: May 28
Changed: Aug 24
Last Checked: Sep 4 at 6:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Peranich Huffman Net Lease Group
Investment Insights
Based on property information with market context.
This offering includes suites 104 and 105 at 1403 Medical Plaza Drive, presented as part of the Pediatric Associates Florida Portfolio. The properties in the portfolio are structured as net lease assets and are fully leased to Pediatric Associates under Triple Net (NNN) lease terms. The portfolio leases also include 3.00% annual rent escalations.
The portfolio is located across the Greater Orlando and Central Florida markets, with this Sanford, Florida property serving as one of six pediatric medical office locations. The presentation focuses on a single operator and an essential-service healthcare use within established suburban communities.
For investors or buyers seeking a healthcare-related, professionally managed tenancy, the key factor here is long-term lease structure to Pediatric Associates. With NNN responsibilities designed to minimize landlord obligations and contractual annual rent escalations, this asset provides a straightforward, tenant-backed healthcare office investment within the broader Florida portfolio.
The portfolio is located across the Greater Orlando and Central Florida markets, with this Sanford, Florida property serving as one of six pediatric medical office locations. The presentation focuses on a single operator and an essential-service healthcare use within established suburban communities.
For investors or buyers seeking a healthcare-related, professionally managed tenancy, the key factor here is long-term lease structure to Pediatric Associates. With NNN responsibilities designed to minimize landlord obligations and contractual annual rent escalations, this asset provides a straightforward, tenant-backed healthcare office investment within the broader Florida portfolio.
Key Highlights
- 1983‑built medical office building with suites 104 & 105 listed at 1403 Medical Plaza Dr, Sanford, FL 32771
- Both suites 104 and 105 are fully leased to Pediatric Associates under triple net (NNN) lease terms
- All leases include 3.00% annual rent escalations for built‑in contractual income growth
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,917
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,038,340
$1.0M
Cap Rate 7%
$741,671
$741.7K
Cap Rate 9%
$576,856
$576.9K
Market Conditions
NOI Build-Up for 3,475 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$83.4K $24.00/SF
− Vacancy
−$14.2K −$4.08/SF
EGI
$69.2K $19.92/SF
− OpEx
−$17.3K −$4.98/SF
NOI
$51.9K $14.94/SF
Area
Seminole County, FL
Vacancy
17.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,038,340
Cap Rate 7%
$741,671
Cap Rate 9%
$576,856
Alternative Uses
Best Use
Office B
$741.7K
$649.0K – $865.3K
NOI $51,917 @ 7.0% cap · market cap 4.41%
Second Best
Healthcare Medical
$707.7K
$619.3K – $825.7K
NOI $49,540 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$988.9K
$865.3K – $1.15M
NOI $69,222 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Two medical office suites are fully leased under NNN terms with annual rent escalations to Pediatric Associates.
Where is this medical center located?
The property is located at 1403 Medical Plaza Drive Sanford, FL.
What is the asking price?
The asking price for this property is $1,176,000.
What are key features of this property?
This property features: 1983‑built medical office building with suites 104 & 105 listed at 1403 Medical Plaza Dr, Sanford, FL 32771; Both suites 104 and 105 are fully leased to Pediatric Associates under triple net (NNN) lease terms; All leases include 3.00% annual rent escalations for built‑in contractual income growth
