2513 James L Redman Pkwy Plant City, FL 33566-7115
- Medical offices
- 3,876 SF
- 0.54 lot acres
Current Use by Public Records
- Motto Clear Aligners / Dentist
- Aspen Dental - Plant City, FL / Dentist
- Joshua Burns / Dentist
- Michael Dickerson / Dentist
- Loc Tong / Dentist
Property Details for 2513 James L Redman Pkwy
- Year built
- 2018
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.54 lot acres
- Property size
- 3,876 SF
- Zone code
- PD
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- P05292239Z000004000044
- APU
- P05292239Z000004000044
Description
This exceptional investment opportunity presents a 3,750 square foot, single-tenant storefront occupied by Aspen Dental, a nationally recognized healthcare retailer, located at 2513 James L Redman Pkwy, Plant City, FL 33566. The property boasts a strong 5.75% cap rate and a substantial net operating income (NOI) of $152,625. The current lease, with a remaining term of approximately 3.9 years, extends to October 31, 2028, and includes three 5-year options with 10% rent escalations in each. Aspen Dental's corporate guarantee provides significant security. Built in 2018, this well-maintained building sits on a 0.54-acre lot and benefits from excellent visibility and high traffic counts (26,328 ADT) on a major retail corridor. Nearby retailers include Walmart, Lowe's, Winn-Dixie, and Ross. The property is an outparcel to Lowe's with convenient interconnectivity. Landlord responsibilities are limited to roof and structure maintenance. The submarket has experienced robust growth, with market rents increasing by 7.8% in the past year and vacancy rates remaining below 3.3% in the MSA. This offering presents a compelling combination of strong tenant, favorable lease terms, and a prime location within a thriving retail environment. The asking price is $2,654,000, translating to a price per square foot of $707.73.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,700,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,665,000
- 6.5%
- $1,520,000
- 7%
- $1,660,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,485,000
- Geo Method
- $1,535,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,890,000
- Retail
- $1,735,000
- Mixed-Use
- $1,805,000
- Hospitality
- $2,025,000
- Educational
- $1,940,000
- Residential Income
- $1,945,000
- Energy
- $1,590,000
- Income-Based Land
- $1,755,000
- Food Service
- $1,990,000
Location Insight
- Map
- Local Demand
- City
- Plant City
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.1224
- Latitude
- 27.9866
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
