NNN Medical Office
For Sale
Contact for pricing
Pending
809 Co Rd 466, Lady Lake, FL 32159
Long-term single-tenant NNN lease with Optum Health and 8 years remaining, including annual rent increases.
Property Size3,105 SF
Days on Market62
Property Features for 809 Co Rd 466
General Information
Standard status
Pending
Size
3,105 SF
Total Parking Spaces
40
Property subtype
Office, Retail
Zoning
RP -- Residential Professional
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$72,120
Additional Details
Cap Rate
6.35%
Building Details
Year Built
2014
Year Renovated
2021
Stories
1
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Tampa
Listed By:
William Wamble · License #SL3257920
(813) 371-1079
Source:
Crexi
Added: Jul 8
Changed: Aug 26
Last Checked: Sep 6 at 6:42PM
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 SRS Real Estate Partners Tampa
Investment Insights
Based on property information with market context.
This NNN medical office unit, 809 County Road 466, Unit 101-C in Lady Lake, Florida, is offered as an investment with a long-term single-tenant lease. The tenant is Optum Health, with a corporate guarantor under UnitedHealth Group.
The lease features 8 years remaining and annual rent increases. Based on the provided financials, the property has an estimated net operating income of $72,120 and a stated 6.35% cap rate.
According to the information provided, the structure is designed to require no landlord responsibilities, supporting a hands-off investment approach. The property is located within The Villages, described in the remarks as a master-planned community.
The lease features 8 years remaining and annual rent increases. Based on the provided financials, the property has an estimated net operating income of $72,120 and a stated 6.35% cap rate.
According to the information provided, the structure is designed to require no landlord responsibilities, supporting a hands-off investment approach. The property is located within The Villages, described in the remarks as a master-planned community.
Key Highlights
- 2014‑built property with a long‑term single‑tenant NNN lease
- Tenant is Optum Health, with UnitedHealth Group as corporate guarantor
- Lease has 8 years remaining with options and annual rent increases
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
$47,663
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
4.20%
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%
$953,260
$953.3K
Cap Rate 7%
$680,900
$680.9K
Cap Rate 9%
$529,589
$529.6K
Market Conditions
NOI Build-Up for 3,105 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
$77.5K $24.96/SF
− Vacancy
−$14.0K −$4.49/SF
EGI
$63.6K $20.47/SF
− OpEx
−$15.9K −$5.12/SF
NOI
$47.7K $15.35/SF
Area
Sumter County, FL
Vacancy
18.00%
Lease Rate
$24.96 /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%
$953,260
Cap Rate 7%
$680,900
Cap Rate 9%
$529,589
Alternative Uses
Best Use
Office B
$680.9K
$595.8K – $794.4K
NOI $47,663 @ 7.0% cap · market cap 4.20%
Second Best
Healthcare Medical
$500.2K
$437.7K – $583.6K
NOI $35,015 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$888.9K
$777.8K – $1.04M
NOI $62,224 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
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?
NNN property - Long-term single-tenant NNN lease with Optum Health and 8 years remaining, including annual rent increases.
Where is this nnn property located?
The property is located at 809 Co Rd 466 Lady Lake, FL.
What is the asking price?
The asking price for this property is $1,135,000.
What are key features of this property?
This property features: 2014‑built property with a long‑term single‑tenant NNN lease; Tenant is Optum Health, with UnitedHealth Group as corporate guarantor; Lease has 8 years remaining with options and annual rent increases
