1702 Ohio Ave Live Oak, FL 32064
- Commercial land
- 1.11 lot acres
Current Use by Public Records
- Commercial land
Property Details for 1702 Ohio Ave
- Lot size
- 1.11 lot acres
- Property type
- Commercial land
- APN
- 13-02S-13E-04969-101050
- APU
- 1302S13E04969101050
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Live Oak
- County
- Suwannee
- State
- Florida
- Longitude
- -82.9735
- Latitude
- 30.312
