GuideWell Emergency Doctors
| Price | $4,678,000 |
| Cap Rate | 5.75% |
| NOI | $268,983 |
| Lease Term | 10 Years |
| Lease Type | NN Lease with Tenant Responsible for Taxes, Insurance and Maintenance, Excluding the Roof and Structure. (New Roof Upon Commencement.) |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2020 |
| Building Size | 9,438 SF |
| Lot Size | 1.29 Acres (56,233 SF) |
| Status | Under Contract |
| Lead Broker Information | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 10-YEAR NET LEASE TO MEDICAL CARE PROVIDER
» 10-year net lease with four (4) five-year option periods
» 10% rental increases every five years, providing a hedge against inflation
» GuideWell Emergency Doctors is operated by Crucial Care which is part of Medical Life Holdings Company, a portfolio of healthcare companies focused on making healthcare more efficient and affordable
» Guaranteed by GuideWell Mutual Holding Corporation, with a net worth over $7 Billion
SIGNALIZED CORNER-PARCEL LOCATION IN DENSELY POPULATED AND AFFLUENT TAMPA MARKET
» Combined 45,500 AADT at the signalized four-way intersection of East Fletcher Avenue and Livingston Avenue
» 260,657 residents within a five-mile radius of the property
» Supported by an affluent customer base, with an average annual household income of $64,329 within a five-mile radius of the site
» Convenient access to Interstate 275, which experiences 128,000 AADT
» The Tampa MSA, or Tampa Bay Area, is the second largest MSA in Florida and the 18th largest MSA in the United States
CENTRAL LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Walking distance from AdventHealth Tampa (536 beds), James A. Haley Veterans’ Hospital (415 beds), and the Shriners Healthcare Outpatient Center
» Walking distance from University of South Florida, which has over 65,000 students and faculty
» Surrounded by several well-established local and national retailers including Walmart Supercenter, Target, ALDI, Chase Bank, Wawa, Ross, McDonald’s, Burger King, Walgreens, Wendy’s, Wells Fargo, Dunkin’, Starbucks, and many more
» Just down the street from University Mall, over 660,000 SF of retail space
» Near many major tourist attractions including Adventure Island Water Park, Busch Gardens Water Park, the Museum of Science & Industry, and many more
Property Description
The property is strategically located just off the signalized intersection of East Fletcher Avenue and Livingston Avenue with excellent access and visibility to 45,500 vehicles per day. The property is located with convenient access to Interstate 275, which experiences 128,000 vehicles per day. The property is also located just walking distance from the University of South Florida, which has over 65,000 students and faculty. Within a five mile radius of the property, there are 260,657 residents and an average household income of $64,329. There are many major national retailers in the surrounding area including Walmart Supercenter, Target, ALDI, Chase Bank, Wawa, Ross, McDonald’s, Burger King, Walgreens, Wendy’s, Wells Fargo, Dunkin’, Starbucks, and many others.
The property additionally benefits from its proximity to many of Tampa’s major tourist attractions including Adventure Island Water Park, Busch Gardens Water Park, Museum of Science & Industry, among others. In 2019, Tampa reported tourism revenue in excess of $756 million, which represents a five percent increase from 2018 and over 100 percent increase in the last decade. The property is also walking distance from many major medical centers including Advent Health Tampa (536 beds), James A. Haley Veterans Hospital (415 beds), and Shriners Outpatient Center.
