USD 2,750,000
5480-5492 Griffin Rd
Davie, Florida 33314
For Sale
Property Description
Humana Medical Plan Inc, the tenant, is a Fortune 500 Company whose subsidiary Elite Health provides a wide range of medical services. The 2 folios; 5480 & 5492 Griffin Rd have a building of 4,726 sf completed in 2017 on a 25,060sf lot with 26 parking spots. The 7-year lease commenced on Oct 2 2016. The last year of the lease commencing Sept 1, 2022 has an NOI of $131,345. Landlord’s responsibilities are limited to maintenance of the roof & structure. The tenant must give notice to exercise their first of 2 five-year renewals by 04/30/23. The NOI in the first year of the option is $135,286 with 3% increases annually. If the tenant (whose current rent is below- market) does not exercise its option it is projected that a new tenant would pay $37.50/sf generating an NOI of $169,012.
Listed by Coldwell Banker Realty
Property Details
- ID #
- A11195127
- Status
- Sale
- Type
- Commercial, Industrial, Office
- Zip Code
- 33314
- Year Built
- 2017
- Parking Spaces
- 25
- Water Source
- City/mains water
- Septic
- City sewer
- Ceiling
- Ceiling Height Varies, Exposed
- Construction
- CBS Construction, New Construction
- Floor
- Ceramic Floor, Tile Floors
- Lease Term
- 1 To 3 Year Lease
- Location
- Central Business District
- Occupancy
- Tenant Occupied
- Parking
- Common Parking, Guest Parking, Handicap Parking
- Road Type
- Four Lane
- Security
- Security Lighting
- Storm Protection
- Clear Impact Glass, Complete Impact Glass
- Type of Building
- Medical Office
- Utilities
- Internet
- Miscellaneous
- Exterior Lighting, Handicap Accessible, Landscaped, Lawn Sprinklers, Plumbed For Medical
