Multi-Tenant Medical Office
For Sale
$3,173,785
1540 BUSINESS CENTER DR, Fleming Island, FL 32003
Fully leased medical office with specialized tenant buildouts and recently extended leases.
Property Size10,197 SF
Days on Market122
Property Features for 1540 BUSINESS CENTER DR
General Information
Standard status
Active
Size
10,197 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
±5.58 Years
Net Operating Income
$230,099
Additional Details
Cap Rate
7.25%
Building Details
Building Size
10,197 SF
Year Built
1998
Tenancy
Multi
Listed By:
Jake Allen · License #License No. 3558421 (FL)
(813) 600-3789
Source:
Matthews
Added: Jun 23
Changed: Oct 11
Last Checked: Oct 20 at 5:19PM
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 Jake Allen
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Investment Insights
Based on property information with market context.
This 100% occupied multi-tenant medical office investment features Precision Imaging Centers, North Florida Eye Surgeons, and Bella Lei Aesthetics. The property is predominantly structured as a net lease, which helps minimize landlord responsibilities while supporting tenant-funded, specialized medical buildouts. The current leasing posture includes recently extended leases and annual rent increases.
The asset is located at 1540 Business Center Dr in Fleming Island, within the Jacksonville MSA.
As an occupied healthcare real estate holding, it offers stability supported by tenant investment in medical-specific improvements and a lease structure designed to shift the majority of ongoing responsibilities away from the landlord.
The asset is located at 1540 Business Center Dr in Fleming Island, within the Jacksonville MSA.
As an occupied healthcare real estate holding, it offers stability supported by tenant investment in medical-specific improvements and a lease structure designed to shift the majority of ongoing responsibilities away from the landlord.
Key Highlights
- Built in 1998 medical office building with fully leased, multi‑tenant occupancy
- Tenants include Precision Imaging Centers, North Florida Eye Surgeons, and Bella Lei Aesthetics
- Recently extended leases supporting continued occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,799
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,855,980
$2.9M
Cap Rate 7%
$2,039,986
$2.0M
Cap Rate 9%
$1,586,656
$1.6M
Market Conditions
NOI Build-Up for 10,197 SF
Gross rent
$244.7K $24.00/SF
− Vacancy
−$54.3K −$5.33/SF
EGI
$190.4K $18.67/SF
− OpEx
−$47.6K −$4.67/SF
NOI
$142.8K $14.00/SF
Area
Clay County, FL
Vacancy
22.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,855,980
Cap Rate 7%
$2,039,986
Cap Rate 9%
$1,586,656
Alternative Uses
Best Use
Office B
$2.04M
$1.78M – $2.38M
NOI $142,799 @ 7.0% cap · market cap 4.50%
Second Best
Healthcare Medical
$1.94M
$1.70M – $2.26M
NOI $135,677 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$2.72M
$2.38M – $3.17M
NOI $190,398 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 32003, FL
29,142
Population
11,842
Households
2.5
Avg Household Size
44
Median Age
48%
College-Educated
98%
High-School Grad
15.8 sq mi
ZIP Area
1,844
Density / Sq Mi
$119,046
Median Household Income
$59,895
Median Earnings
$1,918
Median Rent
$387,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
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- VCA Fleming Island Animal Hospital — 4711 Hwy 17 BLDG D, Fleming Island, FL 32003
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office with specialized tenant buildouts and recently extended leases.
Where is this medical office space located?
The property is located at 1540 BUSINESS CENTER DR Fleming Island, FL.
What is the asking price?
The asking price for this property is $3,173,785.
What are key features of this property?
This property features: Built in 1998 medical office building with fully leased, multi‑tenant occupancy; Tenants include Precision Imaging Centers, North Florida Eye Surgeons, and Bella Lei Aesthetics; Recently extended leases supporting continued occupancy
