116 Parsons Park Dr Brandon, FL 33511
- Office Properties & Spaces
- 18,964 SF
- 3.87 lot acres
Current Use by Public Records
- Payal Patel, PA / Pediatrician / Physician
- Roxann Rodriguez, APRN / Pediatrician / Physician
- Mia Fronteras, MD / Physician
- Mark Craft, MD / Physician
- Robert Oliva, MD / Physician
Property Details for 116 Parsons Park Dr
- Year built
- 2005
- Lot size
- 3.87 lot acres
- Property size
- 18,964 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a fee-simple interest in an 18,964 square foot medical office building located at 116 Parsons Park Dr, Brandon, FL 33511. The property, built in 2005, is a two-story building situated on a 3.87-acre lot and boasts 6.5 parking spaces per 1,000 square feet. Currently 100% occupied by AdventHealth Medical Group, a leading healthcare provider with an investment-grade credit rating, the property is under a net lease (NNN) with a remaining term of 5.4 years (expiring March 31, 2030). The lease commenced March 24, 2020, and includes attractive 2.5% annual rent bumps. The current asking price is $6,000,000, representing a price per square foot of $316.39 and a 6.50% cap rate, with a current NOI of $390,089. This single-tenant, family and internal medicine clinic benefits from a strong location within a thriving medical corridor in the Tampa MSA, offering superior visibility and high traffic counts. The property's location in Florida provides an additional benefit of being in an income tax-free state. This is a rare opportunity to acquire a high-quality, stable investment with a best-in-class operator in a desirable market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brandon
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.2844
- Latitude
- 27.9268
