South Park Medical 150 Southpark Blvd

We are pleased to present the opportunity to acquire a 94% leased and occupied office building in Saint Augustine, FL. This building is situated within the Southpark Medical Complex, very close to Flagler Hospital, which is now part of the University of Florida.
This two-story multi-tenant office building is fully leased, and anchored by Hyperbaric Health Services on a 15-year lease that expires in 2039. The lease is backed by a personal guaranty, providing a secure investment opportunity. One other suite is located on the first floor and the remaining suites are on the second floor. A large elevator serves the second floor. Each tenant has their own restroom, air conditioning unit(s) and electrical meter, and tenants pay their own electricity along with janitorial service inside their units. Rents are on a modified gross basis.
The parking lot serves the Southpark Medical complex of 15 buildings, and is owned by the Southpark Medical Association. Maintenance of the off-site stormwater retention and the parking lot is taken care of by the Southpark Medical Association, and each building owner is a member of and pays quarterly dues to the Association. The subject building’s dues are currently $2,144.46 quarterly, and includes landscaping maintenance around the building.