Office•Medical•For Sale

280 Patterson Road

280 Patterson Road, Haines City, Florida 33823

Sale Price $1,750,000 ($174.91 /SqFt)
Sale Type Investment
Zoning CAC
Bldg Type Multi-Tenant
Class B
Status Existing
Year Built 2001
Stories 1
Cap Rate 7.64%
Gross Bldg 11,640 SqFt
RBA 10,005 SqFt
Land Area .95 Acres
Market Tampa/St. Petersburg
Sub-Market Polk County
Parcel# 27270872750004295
This medical/professional complex, situated on .95 +/- acres along Highway 27, a major Central Florida thoroughfare, on Patterson Road in Haines City, Florida. It is in an area designated as the Four Corners. “The luxury vacation home market there booms along with residential and commercial development, feeding into Central Florida’s ranking as one of the fastest growing regions in the U.S.” (osceola News-Gazette, 11/4/18) The building is situated at the entrance to a large medical complex with average traffic counts of 48,000 cars per day. The site is approximately 2 miles south from the Heart of Florida Regional Medical Center and is surrounded by numerous medical office complexes, big box retailers and residential communities. Zoned Commercial Activity Center (CAC), the best use of the site is a medical/professional complex. Built in 2001 the building features a base area of 10,005+/- heated sf and 1,635+/- sf of canopy that covers a walkway on three sides of the building for a combined total of 11,640+/- sf. A new roof was installed in August of 2018 with a 40 year warranty. Heart of Florida Regional Medical Center, a tenant since 2002, occupies 6,100+/- sf consisting of two suites, one The Center for Hyperbaric Oxygen and Wound Care and the other a large physician’s office. The National Alzheimer’s Association is also a tenant and has a long-term lease. The interior finishes of all offices in the building are modern and are in excellent repair. The property is comprised of six suites and is 100% occupied today. An owner/user will have the opportunity to occupy a 2,600 square foot office which is completely finished out for a physician or other professional at the end of this year if they wish. The rental income can cover all of the operating expenses and debt service while netting a profit, therefore owning the complex with little more than a down payment. The current owner is also willing and would prefer to finance the purchase to the right buyer with a moderate down payment. This is a great opportunity to acquire a stable investment and has excellent upside potential as the rents are all below market rate.

1 Spaces

Medical-Dental
1
Built in 2001 the building features a base area of 10,005+/- heated sf and 1,635+/- sf of canopy that covers a walkway on three sides of the building for a combined total of 11,640+/- sf. A new roof was installed in August of 2018 with a 40 year warranty. Heart of Florida Regional Medical Center, a tenant since 2002, occupies 6,100+/- sf consisting of two suites, one The Center for Hyperbaric Oxygen and Wound Care and the other a large physician’s office. The National Alzheimer’s Association is also a tenant and has a long-term lease. The interior finishes of all offices in the building are modern and are in excellent repair. The property is comprised of six suites and is 100% occupied today. An owner/user will have the opportunity to occupy a 2,600 square foot office which is completely finished out for a physician or other professional at the end of this year if they wish
9/26/2018 12:00:00 AM 3/26/2019 8:32:43 PM
Eric Ammon
Associate Broker
Coldwell Banker Commercial Saunders Ralston Dantzler Realty

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