Inpatient Rehabilitation
For Sale
Contact for pricing
1900 CORPORATE SQ BLVD, Jacksonville, FL 32216
The healthcare campus provides inpatient treatment and medical detox services under an absolute NNN lease.
Property Size134,495 SF
Lot Size12.80 Acres
Price / SF$342.78
Days on Market9
Property Features for 1900 CORPORATE SQ BLVD
General Information
Standard status
Active
Size
134,495 SF
Lot size
12.80 Acres
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Gabriel Britti · License #FL SL3211804
(786) 522-7017
Source:
Crexi
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 2:56PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This 134,495-square-foot rehabilitation facility occupies 12.8 acres in Jacksonville. Its operations include medical detox, inpatient care, and drug and alcohol treatment, and it is identified with the Lakeview Health brand. The property is leased on an absolute NNN basis, with annual rent increases. The lease began March 31, 2017, for an initial 20-year term, with approximately 12 years of base term remaining.
At 1900 Corporate Square Blvd., the property is positioned along the Atlantic Boulevard corridor in Jacksonville’s Southside/Arlington submarket. The surrounding five-mile population exceeds 228,000. Bradford Health Services acquired Lakeview Health in September 2024 and backs the lease; Bradford operates a network of 40 facilities offering treatment across multiple levels of care.
At 1900 Corporate Square Blvd., the property is positioned along the Atlantic Boulevard corridor in Jacksonville’s Southside/Arlington submarket. The surrounding five-mile population exceeds 228,000. Bradford Health Services acquired Lakeview Health in September 2024 and backs the lease; Bradford operates a network of 40 facilities offering treatment across multiple levels of care.
Key Highlights
- 134,495‑square‑foot rehabilitation facility on 12.8 acres
- Medical detox, inpatient treatment, and drug and alcohol rehabilitation operations
- Absolute NNN lease with annual rent increases
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
$2,178,819
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
4.73%
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%
$43,576,380
$43.6M
Cap Rate 7%
$31,125,986
$31.1M
Cap Rate 9%
$24,209,100
$24.2M
Market Conditions
NOI Build-Up for 134,495 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
$4.03M $30.00/SF
− Vacancy
−$403.5K −$3.00/SF
EGI
$3.63M $27.00/SF
− OpEx
−$1.45M −$10.80/SF
NOI
$2.18M $16.20/SF
Area
Jacksonville, FL
Vacancy
10.00%
Lease Rate
$30.00 /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%
$43,576,380
Cap Rate 7%
$31,125,986
Cap Rate 9%
$24,209,100
Alternative Uses
Best Use
Healthcare Medical
$31.13M
$27.24M – $36.31M
NOI $2,178,819 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$36.84M
$32.24M – $42.98M
NOI $2,579,076 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
851
Businesses Nearby
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Business Placement
Demographics for 32216, FL
42,847
Population
19,796
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
12.7 sq mi
ZIP Area
3,374
Density / Sq Mi
$63,253
Median Household Income
$44,078
Median Earnings
$1,311
Median Rent
$244,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - The healthcare campus provides inpatient treatment and medical detox services under an absolute NNN lease.
Where is this rehabilitation center located?
The property is located at 1900 CORPORATE SQ BLVD Jacksonville, FL.
What is the asking price?
The asking price for this property is $46,102,653.
What are key features of this property?
This property features: 134,495‑square‑foot rehabilitation facility on 12.8 acres; Medical detox, inpatient treatment, and drug and alcohol rehabilitation operations; Absolute NNN lease with annual rent increases
