Absolute NNN Medical Office
For Sale
Contact for pricing
1505 26th Avenue East, Bradenton, FL 34266
Nine-unit medical office portfolio fully leased to MCR Health under an absolute NNN structure.
Property Size72,964 SF
Price / SF$309.67
Days on Market34
Property Features for 1505 26th Avenue East
General Information
Standard status
Active
Size
72,964 SF
Property subtype
Office
Occupancy
100%
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$1,526,125
Additional Details
Office Units
9
Building Details
Buildings
9
Units
9
Tenancy
Single
Listing Agency:
NDC Commercial Real Estate
(941) 915-9931
Listed By:
Benjamin Bakker · License #FL 3279071
Source:
Crexi
Added: Jul 8
Changed: Aug 8
Last Checked: Aug 9 at 3:51PM
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 NDC Commercial Real Estate
Investment Insights
Based on property information with market context.
This nine-unit corporate medical office investment portfolio is offered on an absolute NNN lease basis, with the tenant occupying all units. The portfolio is described as turnkey, with MCR Health serving as the single tenant across the full building footprint and each lease carrying approximately nine years remaining.
The asset is located at 1148 E. Gibson Street in Arcadia, Florida, and is described as strategically dispersed across Manatee and DeSoto counties. A rent increase is scheduled for September 1, 2027, and the leases include built-in annual rental increases.
For investors seeking a stabilized medical office investment built around a single-tenant, absolute NNN structure, this portfolio provides a straightforward configuration with one operator and a defined lease horizon.
The asset is located at 1148 E. Gibson Street in Arcadia, Florida, and is described as strategically dispersed across Manatee and DeSoto counties. A rent increase is scheduled for September 1, 2027, and the leases include built-in annual rental increases.
For investors seeking a stabilized medical office investment built around a single-tenant, absolute NNN structure, this portfolio provides a straightforward configuration with one operator and a defined lease horizon.
Key Highlights
- Nine‑unit corporate medical office portfolio fully leased to MCR Health under an absolute NNN structure
- Single credit tenant occupies all units, with 9 years left on their respective leases
- Absolute NNN lease structure eliminates all ownership costs for the landlord
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
$1,126,462
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
4.99%
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%
$22,529,240
$22.5M
Cap Rate 7%
$16,092,314
$16.1M
Cap Rate 9%
$12,516,244
$12.5M
Market Conditions
NOI Build-Up for 72,964 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
$1.97M $27.00/SF
− Vacancy
−$92.6K −$1.27/SF
EGI
$1.88M $25.73/SF
− OpEx
−$751.0K −$10.29/SF
NOI
$1.13M $15.44/SF
Area
Manatee County, FL
Vacancy
4.70%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$22,529,240
Cap Rate 7%
$16,092,314
Cap Rate 9%
$12,516,244
Alternative Uses
Best Use
Healthcare Medical
$16.09M
$14.08M – $18.77M
NOI $1,126,462 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.46M
$18.77M – $25.03M
NOI $1,501,949 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Office units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 34266, FL
28,827
Population
12,302
Households
2.3
Avg Household Size
40
Median Age
10%
College-Educated
70%
High-School Grad
578.1 sq mi
ZIP Area
50
Density / Sq Mi
$47,414
Median Household Income
$33,827
Median Earnings
$907
Median Rent
$144,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Nine-unit medical office portfolio fully leased to MCR Health under an absolute NNN structure.
Where is this medical center located?
The property is located at 1505 26th Avenue East Bradenton, FL.
What is the asking price?
The asking price for this property is $22,595,000.
What are key features of this property?
This property features: Nine‑unit corporate medical office portfolio fully leased to MCR Health under an absolute NNN structure; Single credit tenant occupies all units, with 9 years left on their respective leases; Absolute NNN lease structure eliminates all ownership costs for the landlord
