Medical Office Building with Metal
For Sale
$2,015,689
6712 Dairy Rd, Zephyrhills, FL 33542
Custom-built medical office under a newly executed 5-year modified net lease with annual rent increases.
Property Size7,161 SF
Days on Market182
Property Features for 6712 Dairy Rd
General Information
Standard status
Active
Size
7,161 SF
Property subtype
Commercial
Lease Term
± 4.79 Years
Net Operating Income
$136,059
Building Details
Building Size
7,161 SF
Year Built
2008
Listed By:
Jake Allen · License #License No. 3558421 (FL)
(813) 600-3789
Source:
Matthews
Added: Apr 24
Changed: Oct 19
Last Checked: Oct 20 at 5:03PM
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 Jake Allen
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Investment Insights
Based on property information with market context.
This custom-built medical office building has been well maintained since completion and is leased under a Modified Net structure. The tenant is responsible for maintenance/repairs and all day-to-day expenses, and a newly executed 5-year lease is in place. The lease provides for 2% annual rental increases, supporting step-ups over the term. The building features durable construction and a metal roof.
The property is located near AdventHealth Zephyrhills Hospital and is surrounded by established medical offices. The surrounding area maintains a 4.7% vacancy rate, well below an approximate 8% state average, and the Zephyrhills/Pasco County area has experienced about 24% population growth over the past six years.
Per the current leasing context, rents are described as below market, with comparable medical space achieving mid-$20s per square foot.
The property is located near AdventHealth Zephyrhills Hospital and is surrounded by established medical offices. The surrounding area maintains a 4.7% vacancy rate, well below an approximate 8% state average, and the Zephyrhills/Pasco County area has experienced about 24% population growth over the past six years.
Per the current leasing context, rents are described as below market, with comparable medical space achieving mid-$20s per square foot.
Key Highlights
- Custom‑built 2008 medical office building
- Newly executed 5‑year modified net lease
- 2% annual rental increases included in the lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,047
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,320,940
$1.3M
Cap Rate 7%
$943,529
$943.5K
Cap Rate 9%
$733,856
$733.9K
Market Conditions
NOI Build-Up for 7,161 SF
Gross rent
$120.3K $16.80/SF
− Vacancy
−$10.2K −$1.43/SF
EGI
$110.1K $15.37/SF
− OpEx
−$44.0K −$6.15/SF
NOI
$66.0K $9.22/SF
Area
Pasco County, FL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,320,940
Cap Rate 7%
$943,529
Cap Rate 9%
$733,856
Alternative Uses
Best Use
Healthcare Medical
$943.5K
$825.6K – $1.10M
NOI $66,047 @ 7.0% cap · market cap 3.28%
Second Best
Office B
$690.3K
$604.1K – $805.4K
NOI $48,324 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,186 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,222
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 33542, FL
22,649
Population
13,600
Households
1.7
Avg Household Size
54
Median Age
16%
College-Educated
89%
High-School Grad
10.4 sq mi
ZIP Area
2,178
Density / Sq Mi
$49,011
Median Household Income
$34,267
Median Earnings
$1,049
Median Rent
$129,900
Median Home Value
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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 - Custom-built medical office under a newly executed 5-year modified net lease with annual rent increases.
Where is this medical office space located?
The property is located at 6712 Dairy Rd Zephyrhills, FL.
What is the asking price?
The asking price for this property is $2,015,689.
What are key features of this property?
This property features: Custom‑built 2008 medical office building; Newly executed 5‑year modified net lease; 2% annual rental increases included in the lease
