Senior Care Medical
4990 Majorca Palms Drive, Fort Myers, FL 33905
For Sale
New
Contact for pricing
An occupied clinic delivers primary care for seniors under an absolute NNN lease.
Property Size12,634 SF
Lot Size1.56 Acres
Price / SF$403.67
Days on Market7
Property Features for 4990 Majorca Palms Drive
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Property Use
Medical Specialty
Building Details
Year Built
Year Renovated
Buildings
Tenancy
Listing Agency:
JLL Miami | Brickell Avenue
Listed By:
Josh Katlin · License IL 475.202814
(312) 228-2062
Source:
Crexi
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 12 at 7:40AM
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 JLL Miami | Brickell Avenue
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Investment Insights
Based on property information with market context.
This 12,634-square-foot medical office building operates as a primary care clinic serving seniors. ChenMed occupies the property, which was built in 2018 and renovated in 2023. The building sits on a 1.56-acre parcel at 4990 Majorca Palms Drive in Fort Myers, Florida.
The absolute NNN lease has approximately 19 years remaining in its primary term and includes 2.50% annual rent escalations. ChenMed’s Dedicated Senior Medical Center concept operates at this location.
The absolute NNN lease has approximately 19 years remaining in its primary term and includes 2.50% annual rent escalations. ChenMed’s Dedicated Senior Medical Center concept operates at this location.
Key Highlights
- 12,634‑square‑foot medical office building on a 1.56‑acre parcel
- Occupied by ChenMed’s Dedicated Senior Medical Center concept
- Absolute NNN lease with approximately 19 years remaining in the primary term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,115
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,342,300
$4.3M
Cap Rate 7%
$3,101,643
$3.1M
Cap Rate 9%
$2,412,389
$2.4M
Market Conditions
NOI Build-Up for 12,634 SF
Gross rent
$315.3K $24.96/SF
− Vacancy
−$25.9K −$2.05/SF
EGI
$289.5K $22.91/SF
− OpEx
−$72.4K −$5.73/SF
NOI
$217.1K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,342,300
Cap Rate 7%
$3,101,643
Cap Rate 9%
$2,412,389
Alternative Uses
Best Use
Office B
$3.10M
$2.71M – $3.62M
NOI $217,115 @ 7.0% cap · market cap 4.26%
Second Best
Healthcare Medical
$2.62M
$2.29M – $3.06M
NOI $183,431 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,352 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Medical Office Space in Fort Myers
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - An occupied clinic delivers primary care for seniors under an absolute NNN lease.
Where is this medical office space located?
The property is located at 4990 Majorca Palms Drive Fort Myers, FL.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: 12,634‑square‑foot medical office building on a 1.56‑acre parcel; Occupied by ChenMed’s Dedicated Senior Medical Center concept; Absolute NNN lease with approximately 19 years remaining in the primary term
