707 Ballard St Altamonte Springs, FL 32701

Property Details for 707 Ballard St

Property size

4,601 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a 4,601 square foot medical office building located at 707 Ballard Street, Altamonte Springs, Florida 32701. The property boasts a prime location at the corner of Maitland Avenue and Ballard Street, offering convenient access to I-4 and major hospitals including AdventHealth Altamonte Springs. Currently 100% occupied by a long-term medical tenant under a single-tenant, absolute NNN lease with 3.5 years remaining, plus a five-year renewal option. The lease commenced June 1, 2018, and expires May 31, 2028. The lease features attractive 3% annual rent increases, ensuring consistent income growth. The building, constructed in 1996, is a free-standing structure, eliminating HOA fees. The tenant is responsible for all operating expenses, including property taxes, insurance, roof maintenance, and HVAC. Rent is paid directly to the landlord's bank account, minimizing administrative overhead. The asking price is $1,750,000, representing a compelling 6.02% cap rate based on a net operating income (NOI) of $105,400. A significant advantage is the six-month security deposit provided by the tenant. This property offers a low-maintenance, high-return investment with a stable tenant and a desirable location. The building is fully built-out and ready for immediate occupancy by the existing tenant.

Location Insight

City

Altamonte Springs

County

Seminole

State

Florida

Longitude

-81.3651

Latitude

28.6537