Total Square Feet
±21,484 SF
Total Acreage
±2.06 AC
Asking Price
$10,024,924
NOI
$601,495
Tampa, Florida
Total Square Feet
±21,484 SF
Total Acreage
±2.06 AC
Asking Price
$10,024,924
NOI
$601,495
MULTI-DISCIPLINARY MEDICAL TENANT
• The Performance Lab is a multi-faceted medical tenant focused on the rehabilitation of patients who have undergone MSK (musculoskeletal) and brain injuries.
• The practice includes five (5) Medical Doctors with focuses in Sports Medicine, Interventional Pain, Functional Medicine, and Physical Therapy.
• The breadth of services provided puts The Performance Lab on par with a hospital setting, providing a wide array of patient care throughout the rehabilitation process, all under one roof.
SIGNIFICANT RECENT CAPITAL IMPROVEMENTS
• Tenant will complete a minimum of $4 million in buildout, showing strong dedication to the location.
• $650,000 in replacements to the roof and HVAC units to take place in 2024.
• An additional $650,000 in improvements to be made to the property to finalize code improvements.
MINIMAL LANDLORD RESPONSIBILITIES
• NNN lease where the tenant is responsible for CAM, property taxes, and insurance.
• Tenant is also responsible for HVAC repairs/maintenance/replacement as well as maintaining an HVAC service contract.
• Landlord is responsible for the roof and structure.
STABILIZED CASH FLOW
• Tenant recently signed a new ten (10) year lease, with three 5-year options.
• Lease includes 10% rent increases every five (5) years through the initial term and option periods.
STRATEGIC LOCATION
• The property is located on North Dale Mabry, Tampa’s largest retail corridor, with an average daily traffic count of 64,000 vehicles per day.
• The property is located 3 miles from Interstate 275, a primary thoroughfare serving Tampa with 165,000 vehicles per day.
DESIRABLE DEMOGRAPHICS
Within 1-mile radius
• Population: 19,521 • Households: 10,714 • Avg. HH Income: $131,089
Within 3-mile radius
• Population: 108,710 • Households: 52,712 • Avg. HH Income: $105,390
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