Leased Medical Office Investment Opportunity 1807 Salk Dr

1,850 SF Office Building Tavares, FL 32778 $550,000 ($297/SF)

Investment Highlights

  • Ideal Location Near Advent Health -Waterman Hospital
  • Lakeview Center Professional Office Business Park
  • 14 Parking Spaces
  • Free-Standing Office Building, Full Medical Build-out
  • 1,850 Square Feet, .47 Acre Parcel
  • Fully Leased to a National Corporate Tenant

Executive Summary

KW Commercial is pleased to offer for sale a medical office property immediately nearby the Advent Health – Waterman Hospital Complex in Tavares, FL. The free-standing medical office consists of 1,850 SF and is located on a .47 acre parcel in the Lakeview Center professional office park. The building/property includes reception, multiple exam rooms, a surgery-procedure room, physician’s office, and administrative office and 14 parking spaces in a .148 acre private parking lot.
The property is presently leased to a single national corporate medical tenant, Upperline Health, Inc., a Podiatry Medical-Surgical service provider. The current lease term extends through March of 2026, with one extension. Under modified NN lease terms, the tenant pays for utilities and unit maintenance, the landlord is responsible for Sales Tax, Real Estate Taxes and HOA fees. The property is ideal for an investor seeking a medical office investment opportunity.
The robust Lake County – Tavares, Mount Dora, Eustis market area and the exploding expansion of area hospitals, medical services offerings and facilities underscore the current demand for highly customizable professional offices in key area sub-markets. The Advent Health - Waterman Hospital district along US 441 in Mount Dora-Tavares is a key emerging Central Florida population centers surrounding significant exiting and underdevelopment residential and commercial-business districts. The ideally located property nearby to a major regional hospital facilities and will be an attractive location for professional medical providers for many years to come.

Financial Summary (Actual - 2022)

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income $48,359 $26.14
Taxes - -
Operating Expenses - -
Total Expenses $12,006 $6.49
Net Operating Income $36,353 $19.65

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
1,850 SF
Building Class
B
Year Built
2007
Price
$550,000
Price Per SF
$297
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,850 SF
Building FAR
0.09
Lot Size
0.47 AC
Zoning
C
Parking
15 Spaces (8.11 Spaces per 1,000 SF Leased)

Amenities

  • Signage

PROPERTY TAXES

  • Listing ID: 29920941

  • Date on Market: 10/30/2023

  • Last Updated:

  • Address: 1807 Salk Dr, Tavares, FL 32778