Commercial Real Estate Property For Sale In Davie

5480-5492 Griffin Rd Davie, FL 33314
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$2,750,000

  • 2017 Year Built
  • Apr 29, 2022 Listing Date

MLS #

:

A11195127

Price

:

$2,750,000

Status

:

Active

Listing Date

:

Apr 29, 2022

Square Footage

:

Not Available

County

:

Broward

Square Footage

:

Not Available

Year Built

:

2017

Taxes

:

$20,445 Per Year

Waterfront

:

No

Virtual Tour

:

click here to view virtual tour

 

Remarks

:

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. Landlords 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.

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