Commercial Sale Property - Office in Lakewood Ranch
Listing Price: $7,545,000
Description of Property
Located in Lakewood Ranch, Florida, this property presents an exceptional medical office investment opportunity. The Radiation Oncology Center features a true NNN lease structure with monthly rent of $37,784.91, providing stable income with no landlord responsibilities. The occupying tenant is responsible for a portion of the building maintenance, while the condominium association maintains the remaining common areas. The property is offered at a 6% cap rate, generating $453,418.88 in annual NOI, with annual CPI rent increases built into the lease structure. The current tenant, Advocate Radiation Oncology, has two years remaining on the existing lease term along with a five-year renewal option. The tenant has invested and continues to invest significant capital improvements into the space, demonstrating a strong commitment to long-term occupancy. The building is well maintained and features an attractive architectural design, including a charming courtyard area between the two buildings accented by elegant columns. The interior includes a welcoming waiting room, multiple exam rooms, private offices, and a dedicated CT scan room and two radiation vaults designed to support specialized medical services. Strategically located just 1.6 miles from Lakewood Ranch Medical Center, the property benefits from proximity to a major healthcare hub, supporting continued referral opportunities, collaboration with nearby providers, and sustained patient demand for the tenant.
Property Details At A Glance
Property Type: Commercial Sale
Property Use or Sub Type: Office
City: Lakewood Ranch
County: Manatee
Subdivision: Professional Center At Lakewood R 8, 9&10
Sq. Ft. Gross: 9,046
Sq. Ft. Living Area: 9,046
Cost per (heated) sqare foot: $834
Year built: 2009
Annual Tax: $23,562
Taxes and fees can change periodically, and other fees may apply. Please check with your Realtor for more details.
Waterfront Info
Exterior & Construction
Construction: Stucco
Foundation: Slab
Cooling: Central Air
Lot Information
Lot Size (acres): 0.18
Lot Size (sq. ft.): 8,046 square feet
Road Frontage: City Street
Legal Description & Other Information
Parcel Number: 1918552979
Zoning: PD-MU
Tax Legal Desc.: UNITS 10-A-1, 10-B-1, 10-C-1, 10-D-1, 10-E-1, 10-F-1, 10-G-1, 10-H-1, 10-I-1, 10-J-1, 10-K-1, 10-L-1, 10-M-1 PROFESSIONAL CENTER AT LAKEWOOD RANCH A CONDO PI#
Section: 36
Range: 18
Listing courtesy of SVN COMMERCIAL ADVISORY GROUP. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.