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
Listing content provided by the Miami Association of REALTORS
Disclaimer: BBC: 3%, The offer of compensation is made only to participants of the MLS where the listing is filed.

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