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    1702 Ohio Ave Live Oak, FL 32064

    For Sale
    $2,290,000

    Florida NNN Medical Office, 5.23% Cap Rate

    Property size:
    3,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a 3,200 square foot Class A medical office building in Live Oak, Florida. The property is currently 100% occupied by a credit-rated tenant under a triple-net (NNN) lease with 13.5 years remaining. The lease commenced May 19, 2023, and expires May 31, 2038, featuring four, five-year renewal options. Rent increases by 10% every five years, ensuring consistent income growth. Built in 2023, this single-story building sits on a 0.88-acre lot and boasts a strong net operating income (NOI) of $119,820, yielding a 5.23% cap rate. The asking price is $2,290,000, translating to $746.88 per square foot. This is a low-maintenance, high-return investment in a strategically located northern Florida market. The tenant is a regional urgent care concept with multiple locations across several states. This property offers a secure, long-term investment with built-in rent escalations and minimal landlord responsibilities. The property's prime location in Live Oak, Florida, provides excellent accessibility and visibility. This is a rare opportunity to acquire a newly constructed, high-quality medical office building with a strong tenant and favorable lease terms.

    Property Features for 1702 Ohio Ave

    General Information

    Property type
    Medical offices
    Square Feet
    3,200 SF
    Class
    A
    Lot Size
    38,333 SF

    Building Details

    Year Built
    2023
    Buildings
    1
    Stories
    1

    HighLights

    • 3,200 SF Class A medical office building in Live Oak, FL, built in 2023.
    • 14‑year triple‑net (NNN) lease with zero landlord responsibilities; 10% rent increases every five years.
    • Lease guaranteed by Rural Urgent Care, LLC, parent company of the MainStreet Urgent Care network (60+ locations).
    • Excellent Live Oak, FL location, equidistant from Tallahassee and Jacksonville.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Live Oak
    County
    Suwannee
    State
    Florida
    Longitude
    -82.9748502
    Latitude
    30.3119376

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    FAQs

    What type of property is this?
    Medical office - Florida NNN Medical Office, 5.23% Cap Rate
    Where is this medical office located?
    The property is located at 1702 Ohio Ave Live Oak, FL.
    What is the asking price?
    The asking price for this property is $2,290,000.
    What are key features of this property?
    This property features: 3,200 SF Class A medical office building in Live Oak, FL, built in 2023.; 14-year triple-net (NNN) lease with zero landlord responsibilities; 10% rent increases every five years.; Lease guaranteed by Rural Urgent Care, LLC, parent company of the MainStreet Urgent Care network (60+ locations).
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    1702 Ohio Ave Live Oak, FL 32064
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    Live Oak, FL 32064
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1702 Ohio Ave Live Oak, FL 32064
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