For Sale
$1,176,000 | 6.85% Cap
1403 Medical Plaza Dr, Suite 104 & 105, Sanford, FL 32771
New OM Download
New OM Download
Broker of Record: Jeremy Halback | Bridgeline Real Estate LLC | FL License #: BK3646225
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Two Condominiums | 3,475 Total Square Feet |
5.5 Years | $80,570 |
Investment Highlights
Built-In Annual Rent Growth
The lease features 3.00% annual rent escalations, providing compounding increases in cash flow throughout the lease term and option period.
Triple Net (NNN) Lease Structure
The subject property is leased on a triple net (NNN) basis, providing for a passive ownership structure with limited landlord responsibilities.
Non-Income Tax State
Serving as a major benefit to the landlord, nine states: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming levy no state income tax.
Nation's Largest Pediatric Platform
Pediatric Associates is recognized by Moody’s as the largest pediatric practice management company in the United States, reinforcing the tenant’s strong market position and operational scale of 200+ locations across seven states.
Credit-Rated, Institutionally-Sponsored Tenant
Pediatric Associates carries a "B2" Stable corporate family credit rating from Moody's, corroborated by a "B" Stable issuer credit rating from S&P, and is backed by institutional sponsorship led by TPG ($327 billion AUM).
All-Medical Complex on Hospital Campus
Positioned on the 221-bed HCA Lake Monroe Hospital campus, the subject property is located within the Central Florida Medical Arts Plaza, a complex occupied entirely by healthcare providers, concentrating referring physicians, diagnostic services, and patient traffic.
| Facility Type | Building Area (SF) | Years Remaining | Net Operating Income |
|---|---|---|---|
| Two Condominiums | 3,475 Total Square Feet |
5.5 Years | $80,570 |
Overview
Peranich Huffman Net Lease Group is pleased to exclusively present 1403 Medical Plaza Dr, Suite 104 & 105, Sanford, FL 32771, two adjacent condominiums totaling 3,475 square feet, both occupied by Pediatric Associates, a national leader in pediatric healthcare. The subject property sits within the Central Florida Medical Arts Plaza, an all-medical complex on the campus of HCA Florida Lake Monroe Hospital, a 221-bed acute care facility and Level II Trauma Center in the Orlando MSA. The immediate trade area supports 169,000 residents within five miles, where median household income is projected to increase 22% by 2029.
Leases
Both condominiums are leased to Pediatric Associates under a triple net lease structure. The two suites carry identical lease terms and differ only in size, with Suite 104 comprising 1,475 square feet and Suite 105 comprising 2,000 square feet. With 5.5 years of lease term remaining, the leases feature 3.00% annual rent escalations, creating contractual income growth and long-term compounding cash flow.
Tenant
Pediatric Associates is recognized by Moody’s as the largest pediatric practice management company in the United States and maintains a B2 Stable corporate family credit rating. Founded in 1955 and headquartered in Plantation, FL, the company operates an extensive pediatric healthcare platform spanning 200+ locations and 2,500+ employees across Florida and the broader Sun Belt market. Pediatric Associates delivers primary, specialty, behavioral, and urgent pediatric services, supported by institutional sponsorship, recurring patient demand, and long-standing community relationships.