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9,180 SqFt
Key Details
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 9,180 sqft
MLS Listing ID 1225921
Sold Date -
Property Sub-Type Office
Source Daytona Beach Area Association of REALTORS®
Property Description
A fully stabilized, single-tenant medical office condo offered on Ormond Beach's busiest commercial corridor. Granada Professional Center presents the opportunity to acquire a portfolio of office condo units within one of Ormond Beach's most established professional complexes, 100% occupied by a single, long-tenured medical tenant. Offered at $2,500,000, with a 6.96% cap rate on current weighted average NOI of $173,896 over recently signed 5-year lease from Coastal Pain & Neurology Centers, a multi-physician specialty practice that has operated continuously at this location since 2000. The 9,180 square foot unit is built out for full medical use, featuring high ceilings, storm-rated doors and windows, and ample on-site parking, with prominent monument signage along W. Granada Boulevard (State Road 40) - carrying over 33,500 vehicles per day. With a 25-year tenured anchor, a broad insurance-accepting patient base, and the low-maintenance ownership structure of an office condo, this offering is well-suited for a private investor or 1031 exchange buyer seeking dependable, healthcare-driven income in a high-demand Florida market. Stabilized single-tenant medical office condo 100% leased to long-tenured medical tenant Cap Rate 6.96% Strong visibility on Ormond Beach's prime corridor
Location
State FL
County Volusia
Area 44 - Ormond N Of 40, S Tomoka River, E Of Us1
Direction Located on the north side of Granada Blvd just east of Nova Road.
Region Ormond Beach
City Region Ormond Beach
Exterior
Parking Features Other
View Y/N No
Building
Lot Description Other
Others
Tax ID 424144000020
Financing Conventional
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Bought with Carl Lentz • SVN Alliance Commercial Real Estate Advisors
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