1400 Main St Bells Mill, FL 32428
- Medical offices
- 4,205 SF
- 0.73 lot acres
Current Use by Public Records
- Medical offices
Property Details for 1400 Main St
- Year built
- 2009
- Lot size
- 0.73 lot acres
- Property size
- 4,205 SF
- Property type
- Medical offices
Description
This single-tenant, 4,205 square foot medical office building in Chipley, Florida, presents a compelling investment opportunity. Located at 1400 Main St, this fee-simple property boasts a 15-year net lease (NN) with a corporate guarantee, providing a stable and predictable income stream. The current lease, commencing September 20, 2019, and expiring September 30, 2034, has approximately 9.9 years remaining. The tenant, a national eye care operator, enjoys 100% occupancy, generating a substantial net operating income (NOI) of $111,423 annually, representing a 7.50% cap rate. Built in 2009, this one-story building sits on a 0.73-acre lot and benefits from a 2% annual rent increase. The property's strategic location, adjacent to Northwest Florida Community Hospital and near major retailers like Tractor Supply and McDonald's, ensures high visibility and accessibility. Lease options include 3 and 5-year extensions. The asking price is $1,485,650, translating to $353.31 per square foot. This investment offers a secure, long-term passive income opportunity in a growing Florida market.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bells Mill
- County
- Washington
- State
- Florida
- Longitude
- -85.56121
- Latitude
- 30.6823987
