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Rasmussen University - Ocala 1227 SW 17th Ave 41,204 SF Office Building Ocala, FL 34471 $17,666,909 CAD ($428.77 CAD/SF) 6.80% Cap Rate
Investment Highlights
- Fully leased to Rasmussen University under a 10-year NN+ lease with 2.5% annual increases
- Parking ratio of 5.34 per 1,000 SF supports high-traffic educational use
- Located near major healthcare systems and educational institutions in Ocala, Florida
- Strong regional demand for nursing professionals with projected 203,200 RN job openings annually through 2031
Executive Summary
***Contact anthony.suarez@franklinst.com for more information
Franklin Street is pleased to offer to qualified investors a Medical Office property in Florida, leased to Rasmussen University, operating as an exclusive nursing campus. This Facility is dedicated to Rasmussen’s nursing program and provides Classrooms, Labs, and Hospital Simulation rooms as part of its Educational Programming. Plumbing and Electrical for medical uses are both in place at the Property. In February of 2024, the Primary Building was reconstructed along with the addition of the Expansion Space which added an additional 12,531 SF, bringing the total size to 41,204 SF.
- #1 Performing Rasmussen Location in Florida, Operating Exclusively as a Nursing Campus
- Medical Facility Fit with Plumbing & Electrical Operating Exclusively as a Nursing Campus
- Includes New Construction 12,531 SF Expansion Space & Fully Renovated Existing Space
- New 10-Year Amended and Restated Lease
- Strong NOI Growth with 2.5% Annual Increases
- No deferred Maintenance
- Transferrable Roof Warranties
- Attractive Parking Ratio of 5.34 per 1,000 SF
- 5Yr Anticipated Population Growth of 9.86% (2023-2028)
- Largest National Nursing & Health Sciences Educator with 20 Campuses Nationwide
- Main Hospital Systems nearby including UF Health, AdventHealth, HCA West Marion, and HCA Florida Ocala
- In Close Proximity to The Villages, America's #1 Master-Planned Community
- Located in Florida (No State Income Tax)
Franklin Street is pleased to offer to qualified investors a Medical Office property in Florida, leased to Rasmussen University, operating as an exclusive nursing campus. This Facility is dedicated to Rasmussen’s nursing program and provides Classrooms, Labs, and Hospital Simulation rooms as part of its Educational Programming. Plumbing and Electrical for medical uses are both in place at the Property. In February of 2024, the Primary Building was reconstructed along with the addition of the Expansion Space which added an additional 12,531 SF, bringing the total size to 41,204 SF.
- #1 Performing Rasmussen Location in Florida, Operating Exclusively as a Nursing Campus
- Medical Facility Fit with Plumbing & Electrical Operating Exclusively as a Nursing Campus
- Includes New Construction 12,531 SF Expansion Space & Fully Renovated Existing Space
- New 10-Year Amended and Restated Lease
- Strong NOI Growth with 2.5% Annual Increases
- No deferred Maintenance
- Transferrable Roof Warranties
- Attractive Parking Ratio of 5.34 per 1,000 SF
- 5Yr Anticipated Population Growth of 9.86% (2023-2028)
- Largest National Nursing & Health Sciences Educator with 20 Campuses Nationwide
- Main Hospital Systems nearby including UF Health, AdventHealth, HCA West Marion, and HCA Florida Ocala
- In Close Proximity to The Villages, America's #1 Master-Planned Community
- Located in Florida (No State Income Tax)
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
41,204 SF
Building Class
A
Year Built/Renovated
2008/2024
Price
$17,666,909 CAD
Price Per SF
$428.77 CAD
Cap Rate
6.80%
NOI
$1,201,350 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
41,204 SF
Building FAR
0.20
Lot Size
4.84 AC
Zoning
B4
Parking
220 Spaces (5.34 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 23656-014-00 | Improvements Assessment | $11,821,873 CAD |
| Land Assessment | $293,176 CAD | Total Assessment | $12,115,049 CAD |
Property Taxes
Parcel Number
23656-014-00
Land Assessment
$293,176 CAD
Improvements Assessment
$11,821,873 CAD
Total Assessment
$12,115,049 CAD
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Rasmussen University - Ocala | 1227 SW 17th Ave
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