Veterinary Medical NNN
For Sale
Contact for pricing
511 E Bloomingdale Ave, Brandon, FL 33511
Six-property absolute NNN portfolio leased to American Veterinary Group under a master lease with renewal options and escalations.
Property Size37,489 SF
Price / SF$239.38
Days on Market107
Property Features for 511 E Bloomingdale Ave
General Information
Standard status
Active
Size
37,489 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$595,091
Building Details
Buildings
6
Tenancy
Single
Listing Agency:
JLL Chicago | Americas Headquarters
Listed By:
Alex Sharrin · License #IL 475.170243
(305) 913-5545
Source:
Crexi
Added: Jun 5
Changed: Sep 11
Last Checked: Sep 19 at 6:06AM
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 Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
The American Veterinary Group Portfolio is a six-property, 37,489-square-foot collection of mission-critical veterinary medical real estate. The portfolio is 100% leased to American Veterinary Group under a single absolute-NNN master lease, jointly and severally guaranteed by three operating entities. The offering includes a weighted-average lease term of 17.5 years and four five-year renewal options, with annual rental escalations set as the lesser of 2.0% or 1.25x CPI. As structured, the lease provides for zero landlord responsibilities for roof, structure, taxes, or insurance at the portfolio level.
The properties are located across Florida (five) and North Carolina (one), with the address 511 E Bloomingdale Ave, Brandon, FL 33511 included in the offering. The remarks cite Florida markets including Haines City (+41% since 2020) and New Port Richey (+15% since 2020), and note the North Carolina asset sits within a high-income trade area in the Charlotte MSA.
For buyers seeking single-tenant healthcare-related real estate, this portfolio offers contractually growing rental streams backed by a master lease structure and multiple renewal opportunities. Investors also benefit from the absolute-NNN structure that limits landlord involvement to reduce operational obligations tied to major building expenses. Lease terms and escalations are designed to support long-duration occupancy with a consistent tenant profile under a guaranteed lease framework.
The properties are located across Florida (five) and North Carolina (one), with the address 511 E Bloomingdale Ave, Brandon, FL 33511 included in the offering. The remarks cite Florida markets including Haines City (+41% since 2020) and New Port Richey (+15% since 2020), and note the North Carolina asset sits within a high-income trade area in the Charlotte MSA.
For buyers seeking single-tenant healthcare-related real estate, this portfolio offers contractually growing rental streams backed by a master lease structure and multiple renewal opportunities. Investors also benefit from the absolute-NNN structure that limits landlord involvement to reduce operational obligations tied to major building expenses. Lease terms and escalations are designed to support long-duration occupancy with a consistent tenant profile under a guaranteed lease framework.
Key Highlights
- Six‑property portfolio totaling 37,489 SF of mission‑critical veterinary medical real estate
- 100% leased to American Veterinary Group under a single absolute‑NNN master lease
- Master lease includes 7.5 years weighted‑average lease term and four 5‑year renewal options
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
$553,877
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
6.17%
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%
$11,077,540
$11.1M
Cap Rate 7%
$7,912,529
$7.9M
Cap Rate 9%
$6,154,189
$6.2M
Market Conditions
NOI Build-Up for 37,489 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
$1.01M $27.00/SF
− Vacancy
−$89.1K −$2.38/SF
EGI
$923.1K $24.62/SF
− OpEx
−$369.3K −$9.85/SF
NOI
$553.9K $14.77/SF
Area
Brandon, FL
Vacancy
8.80%
Lease Rate
$27.00 /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%
$11,077,540
Cap Rate 7%
$7,912,529
Cap Rate 9%
$6,154,189
Alternative Uses
Best Use
Healthcare Medical
$7.91M
$6.92M – $9.23M
NOI $553,877 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.10M
$12.34M – $16.45M
NOI $987,190 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
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Business Placement
Demographics for 33511, FL
56,627
Population
24,579
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,539
Density / Sq Mi
$77,383
Median Household Income
$44,521
Median Earnings
$1,684
Median Rent
$324,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Medical center - Six-property absolute NNN portfolio leased to American Veterinary Group under a master lease with renewal options and escalations.
Where is this medical center located?
The property is located at 511 E Bloomingdale Ave Brandon, FL.
What is the asking price?
The asking price for this property is $8,974,000.
What are key features of this property?
This property features: Six‑property portfolio totaling 37,489 SF of mission‑critical veterinary medical real estate; 100% leased to American Veterinary Group under a single absolute‑NNN master lease; Master lease includes 7.5 years weighted‑average lease term and four 5‑year renewal options
