Leased Medical Office
New
For Sale
$888,983
2090 Flamingo Dr, Bartow, FL 33830
Four established dental facilities are offered together or separately across Central Florida.
Property Size3,411 SF
Price / SF$260.62
Days on Market2
Property Features for 2090 Flamingo Dr
General Information
Standard status
Active
Size
3,411 SF
Property subtype
Office Medical
Occupancy
100%
Net Operating Income
$306,026
Additional Details
Cap Rate
7.42%
Amenities
100 Percent Leased to Dental Care Alliance
10 Years of Lease Term Remaining
Two Percent Annual Rental Increases
Building Details
Building Size
3,411 SF
Year Built
1976
Buildings
4
Tenancy
Single
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Kobe Gaskin · License #License(s): OH: SAL.2025003139
(216) 264-2032
Source:
Marcusmillichap
Added: Sep 18
Last Checked: Sep 19 at 5:51AM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
This medical office portfolio comprises four established dental facilities serving Central Florida communities. The properties are located at 3845 Florida Avenue South and 444 W Pipkin Road in Lakeland, 401 Howell Avenue in Brooksville, and 2090 Flamingo Drive in Bartow. Each facility is occupied by Dental Care Alliance, a dental support organization, under long-term lease agreements.
Approximately 10 years remain on the leases, with contractual 2% annual rental increases. The assets may be acquired as a group or individually, providing flexibility for different acquisition strategies. The portfolio represents healthcare-oriented real estate with established dental operations at each location.
Approximately 10 years remain on the leases, with contractual 2% annual rental increases. The assets may be acquired as a group or individually, providing flexibility for different acquisition strategies. The portfolio represents healthcare-oriented real estate with established dental operations at each location.
Key Highlights
- Four dental facilities located in Lakeland, Brooksville, and Bartow, Florida
- Fully leased to Dental Care Alliance
- Approximately 10 years of remaining lease term
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
$42,862
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
4.82%
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%
$857,240
$857.2K
Cap Rate 7%
$612,314
$612.3K
Cap Rate 9%
$476,244
$476.2K
Market Conditions
NOI Build-Up for 3,411 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
$79.8K $23.40/SF
− Vacancy
−$8.4K −$2.46/SF
EGI
$71.4K $20.94/SF
− OpEx
−$28.6K −$8.38/SF
NOI
$42.9K $12.57/SF
Area
Polk County, FL
Vacancy
10.50%
Lease Rate
$23.40 /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%
$857,240
Cap Rate 7%
$612,314
Cap Rate 9%
$476,244
Alternative Uses
Best Use
Healthcare Medical
$612.3K
$535.8K – $714.4K
NOI $42,862 @ 7.0% cap · market cap 4.82%
Second Best
Office B
$598.6K
$523.8K – $698.4K
NOI $41,904 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$819.7K
$717.2K – $956.3K
NOI $57,378 @ 7.0% cap · market cap 6.45%
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
266
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33830, FL
29,926
Population
11,989
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
120.5 sq mi
ZIP Area
248
Density / Sq Mi
$62,636
Median Household Income
$37,078
Median Earnings
$1,017
Median Rent
$207,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Four established dental facilities are offered together or separately across Central Florida.
Where is this medical office space located?
The property is located at 2090 Flamingo Dr Bartow, FL.
What is the asking price?
The asking price for this property is $888,983.
What are key features of this property?
This property features: Four dental facilities located in Lakeland, Brooksville, and Bartow, Florida; Fully leased to Dental Care Alliance; Approximately 10 years of remaining lease term
