111 Professional Park Dr
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111 Professional Park Dr
5,000 SF Office Building Victoria, TX 77904 $1,200,000 ($240/SF) 7.50% Cap Rate
Investment Highlights
- Triple net lease; landlord only has structural responsibility.
- Well maintained building with substantial interior renovations and new windows in 2017.
- Long-standing tenant with established clientele; only maxillofacial surgery within 40+ miles.
- Primary term expires in May 2031; One, 5-Year Renewal Option with a 5% escalation.
- New roof in 2024.
Executive Summary
SVN | Traditions is pleased to offer the market this single tenant, net-leased medical office building. The tenant has been in place for many years and joined a larger network to enhance operating efficiencies. The new lease commenced in May 2021 with a 5-year term and two additional 5-year renewal options with 5% escalations. The tenant exercised the first renewal option early, extending the primary term to May 2031. The tenant will have one renewal option remaining with a 5% escalation. Landlord responsible for structural components.
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
5,000 SF
Building Class
B
Year Built/Renovated
1982/2017
Price
$1,200,000
Price Per SF
$240
Cap Rate
7.50%
NOI
$90,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.16
Land Acres
0.70 AC
Opportunity Zone
Yes
Parking
27 Spaces (5.4 Spaces per 1,000 SF Leased)
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Five Point Dental
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Five Point Dental | Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $288,080 | |
| Land Assessment | $64,400 | Total Assessment | $352,480 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$64,400
Improvements Assessment
$288,080
Total Assessment
$352,480
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Travis Taylor -
SVN | Traditions
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111 Professional Park Dr
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