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803 E Dixie Ave
Leesburg, FL 34748
Office Property For Sale
INVESTMENT HIGHLIGHTS
- 7+ Years Remaining | Options to Extend | Annual Rental Increases | Established Brand | Second Tenant | Below Market Rent
- Strong Demographics in 5-mile Trade Area
- Along E. Dixie Ave (29,500 VPD) | U.S. Hwy 441 (50,000 VPD) | Excellent Visibility & Access
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Nearby Hospital & High School
EXECUTIVE SUMMARY
• The tenant currently has 7+ years remaining on their initial lease with 1 (5-year) option to extend, demonstrating their commitment to the site
• The lease features 3% annual rental increases throughout the initial term and options thereafter, growing NOI and hedging against inflation
• Pivotal Health Care purchased the business from the owner in 2023 - The doctor has been at the location for 10 years and continues to work under their umbrella of doctors
• Below Market Rent of $21 PSF vs $27 PSF
• The doctor’s wife is occupying 1,200 SF of the location where she runs her practice and will be signing a lease at closing for 3 years with 1 (5-year) option to renew with a personal guarantee on that commitment
• The second tenant (Doctor’s Wife) will be paying $2,500/month flat rent for the
3- year term with one option to renew
• The lease features 3% annual rental increases throughout the initial term and options thereafter, growing NOI and hedging against inflation
• Pivotal Health Care purchased the business from the owner in 2023 - The doctor has been at the location for 10 years and continues to work under their umbrella of doctors
• Below Market Rent of $21 PSF vs $27 PSF
• The doctor’s wife is occupying 1,200 SF of the location where she runs her practice and will be signing a lease at closing for 3 years with 1 (5-year) option to renew with a personal guarantee on that commitment
• The second tenant (Doctor’s Wife) will be paying $2,500/month flat rent for the
3- year term with one option to renew
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
6,000 SF
Building Class
C
Year Built/Renovated
1986/1996
Price
$2,616,091 CAD
Price Per SF
$436.02 CAD
Cap Rate
7.07%
NOI
$185,021 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,000 SF
Building FAR
0.15
Lot Size
0.89 AC
Zoning
Community Commercial
Parking
38 Spaces (6.33 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 25-19-24-0003-000-15500 | Improvements Assessment | $979,390 CAD |
| Land Assessment | $436,560 CAD | Total Assessment | $1,415,950 CAD |
PROPERTY TAXES
Parcel Number
25-19-24-0003-000-15500
Land Assessment
$436,560 CAD
Improvements Assessment
$979,390 CAD
Total Assessment
$1,415,950 CAD
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