Purpose-Built Medical
New
For Sale
Contact for pricing
340 HEALD WAY #100, The Villages, FL 34762
The fully occupied clinic is leased under a new six-year agreement with contractual 5% annual rent increases.
Property Size10,750 SF
Price / SF$274.42
Days on Market5
Property Features for 340 HEALD WAY #100
General Information
Standard status
Active
Size
10,750 SF
Net Rentable
10,000 SF
Property subtype
Medical Office
Occupancy
100%
Financials
Asking Price
$2,950,000
Cap Rate
8.54%
Taxes and HOA fees
Annual Taxes
$20,529
Building Details
Building Size
10,750 SF
Year Built
2016
Buildings
1
Tenancy
Single
Listing Agency:
FLAMINGO REAL ESTATE & MNGMT
Listed By:
Robbie Shoemaker
(352) 689-1000
Source:
Thefullerproperties
Added: Oct 2
Changed: Oct 5
Last Checked: Oct 5 at 11:43PM
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 FLAMINGO REAL ESTATE & MNGMT
Investment Insights
Based on property information with market context.
Built in 2016, this 10,750-square-foot medical office contains 10,000 rentable square feet and is configured for podiatry and outpatient care. The layout includes 21 exam rooms, two nurse stations, an X-ray suite, physical-therapy area, patient lobby, separate check-in and check-out areas, administrative offices, conference and break rooms, laundry, storage, and support space. The building is fully occupied by Upperline Health under a new six-year lease with 5% annual rent increases and four additional two-year renewal options.
The offering is a leasehold interest, not fee-simple ownership of the land. The ground lease provides an initial 20-year term from the Rent Commencement Date, with three 20-year extension options and one 19-year extension option, for a potential total term of 99 years if options are properly exercised and lease conditions are met. Ground Lease Expenses, real estate taxes, and landlord insurance are reimbursable operating expenses under the tenant lease, subject to its terms and annual reconciliation.
The property is in Colony Professional Plaza near County Road 466A and the Colony Plaza area in The Villages. Sumter County has an estimated population of 157,772, with 57.6% of residents age 65 or older. The stated Year 1 capitalization rate is 8.54%.
The offering is a leasehold interest, not fee-simple ownership of the land. The ground lease provides an initial 20-year term from the Rent Commencement Date, with three 20-year extension options and one 19-year extension option, for a potential total term of 99 years if options are properly exercised and lease conditions are met. Ground Lease Expenses, real estate taxes, and landlord insurance are reimbursable operating expenses under the tenant lease, subject to its terms and annual reconciliation.
The property is in Colony Professional Plaza near County Road 466A and the Colony Plaza area in The Villages. Sumter County has an estimated population of 157,772, with 57.6% of residents age 65 or older. The stated Year 1 capitalization rate is 8.54%.
Key Highlights
- 10,750‑square‑foot building with 10,000 rentable square feet; constructed in 2016
- Medical layout includes 21 exam rooms, two nurse stations, an X‑ray suite, and physical‑therapy space
- Fully occupied by Upperline Health under a new six‑year lease with 5% annual increases and four two‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,605
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,212,100
$3.2M
Cap Rate 7%
$2,294,357
$2.3M
Cap Rate 9%
$1,784,500
$1.8M
Market Conditions
NOI Build-Up for 10,750 SF
Gross rent
$258.0K $24.00/SF
− Vacancy
−$43.9K −$4.08/SF
EGI
$214.1K $19.92/SF
− OpEx
−$53.5K −$4.98/SF
NOI
$160.6K $14.94/SF
Area
Lake 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 Rate 5%
$3,212,100
Cap Rate 7%
$2,294,357
Cap Rate 9%
$1,784,500
Alternative Uses
Best Use
Office B
$2.29M
$2.01M – $2.68M
NOI $160,605 @ 7.0% cap · market cap 5.44%
Second Best
Healthcare Medical
$2.19M
$1.92M – $2.55M
NOI $153,252 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,140 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34762, FL
567
Population
326
Households
1.7
Avg Household Size
58
Median Age
18%
College-Educated
89%
High-School Grad
8.4 sq mi
ZIP Area
68
Density / Sq Mi
$80,601
Median Household Income
$42,262
Median Earnings
$271,000
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - The fully occupied clinic is leased under a new six-year agreement with contractual 5% annual rent increases.
Where is this medical office space located?
The property is located at 340 HEALD WAY #100 The Villages, FL.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 10,750‑square‑foot building with 10,000 rentable square feet; constructed in 2016; Medical layout includes 21 exam rooms, two nurse stations, an X‑ray suite, and physical‑therapy space; Fully occupied by Upperline Health under a new six‑year lease with 5% annual increases and four two‑year renewal options
