Triple Net Pediatric Medical
For Sale
Contact for pricing
Pending
596 Courtland Boulevard, Deltona, FL 32738
Fully leased pediatric medical office assets under triple net terms with contractual 3% annual rent escalations.
Property Size6,208 SF
Days on Market103
Property Features for 596 Courtland Boulevard
General Information
Standard status
Pending
Size
6,208 SF
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$151,132
Building Details
Year Built
2012
Buildings
1
Tenancy
Single
Listing Agency:
Peranich Huffman Net Lease Group
Listed By:
Jonathan Peranich · License #617210
Source:
Crexi
Added: May 28
Changed: Sep 3
Last Checked: Sep 4 at 1:09PM
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 Peranich Huffman Net Lease Group
Investment Insights
Based on property information with market context.
This offering is presented as part of the Pediatric Associates Florida Portfolio, a six-property net lease collection of pediatric medical office assets. The portfolio is fully leased to Pediatric Associates under Triple Net (NNN) lease structures designed to minimize landlord responsibilities. Each lease includes 3.00% annual rent escalations.
The properties are located throughout the Greater Orlando and Central Florida markets, positioned within established suburban communities across the region.
For investors, the portfolio is structured around a single healthcare operator with an essential-service pediatric focus. The tenant, Pediatric Associates, is described as one of the nation’s leading pediatric healthcare platforms, operating since 1955, with a B2 Corporate Family Rating (Stable Outlook) referenced in the materials. With all assets subject to NNN lease terms and built-in annual escalations, the package is intended to provide stable, passive income characteristics associated with a fully leased arrangement.
The properties are located throughout the Greater Orlando and Central Florida markets, positioned within established suburban communities across the region.
For investors, the portfolio is structured around a single healthcare operator with an essential-service pediatric focus. The tenant, Pediatric Associates, is described as one of the nation’s leading pediatric healthcare platforms, operating since 1955, with a B2 Corporate Family Rating (Stable Outlook) referenced in the materials. With all assets subject to NNN lease terms and built-in annual escalations, the package is intended to provide stable, passive income characteristics associated with a fully leased arrangement.
Key Highlights
- 2012‑built pediatric medical office asset located at 596 Courtland Blvd, Deltona, FL 32738
- Part of a 6‑property Pediatric Associates Florida portfolio leased to Pediatric Associates
- Fully leased under triple net (NNN) lease structures
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
$93,027
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
4.12%
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%
$1,860,540
$1.9M
Cap Rate 7%
$1,328,957
$1.3M
Cap Rate 9%
$1,033,633
$1.0M
Market Conditions
NOI Build-Up for 6,208 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
$134.1K $21.60/SF
− Vacancy
−$10.1K −$1.62/SF
EGI
$124.0K $19.98/SF
− OpEx
−$31.0K −$5.00/SF
NOI
$93.0K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,860,540
Cap Rate 7%
$1,328,957
Cap Rate 9%
$1,033,633
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,027 @ 7.0% cap · market cap 4.12%
Second Best
Healthcare Medical
$1.29M
$1.13M – $1.51M
NOI $90,312 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,133 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Explore this area
Business Placement
Demographics for 32738, FL
47,284
Population
16,965
Households
2.8
Avg Household Size
40
Median Age
18%
College-Educated
91%
High-School Grad
25.8 sq mi
ZIP Area
1,833
Density / Sq Mi
$76,394
Median Household Income
$39,348
Median Earnings
$1,608
Median Rent
$257,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - Fully leased pediatric medical office assets under triple net terms with contractual 3% annual rent escalations.
Where is this medical center located?
The property is located at 596 Courtland Boulevard Deltona, FL.
What is the asking price?
The asking price for this property is $2,256,000.
What are key features of this property?
This property features: 2012‑built pediatric medical office asset located at 596 Courtland Blvd, Deltona, FL 32738; Part of a 6‑property Pediatric Associates Florida portfolio leased to Pediatric Associates; Fully leased under triple net (NNN) lease structures
