|Gross Leasable Area (GLA)||6,400 Sq.Ft. / 4,200 Sq.Ft.|
|Price Per Square Foot (GLA)||$452 / $369|
|Lot Size||0.60 Acres / 0.27 Acres|
Marcus & Millichap is pleased to present for sale this 6,400-square-foot, absolute net-leased Orlando Health Imaging Center. Orlando Health has approximately two years remaining on the base term of their 5-year lease with two 5-year option periods remaining. With three percent annual increases at the start of each option period, an investor can realize attractive rent growth while investing in a prime Altamonte Springs (Orlando MSA) location.
Orlando Health is a private $3.8 billion non-profit healthcare network with over 3,300 beds based in Orlando, Florida. Orlando Health employs over 3,000 physicians and 23,000 employees, making it one of the area’s largest employers. This location is open extended hours from 7 a.m. to 6 p.m. Monday through Friday, and 8 a.m. to 4 p.m. on Saturday. The center is equipped with an MRI Scanner, PET/CT Scanner, CT Scanner, Mammography Scanner, X-Ray Scanner, Ultrasound Scanners, and Radiology PACS Systems. Due to the high cost associated with relocating the millions of dollars in specialty imaging equipment, and the proximity to local hospitals, the tenant is positioned for long-term success at this location.
The subject property is ideally positioned with excellent signage and visibility on State Road 436 in Altamonte Springs, just a half-mile from Interstate 4. State Road 436 is the main retail and business thoroughfare for all of east Orlando. With traffic counts in excess of 60,000 vehicles per day, and Florida Hospital just a half-mile down the road, this imaging center is positioned for long-term success in a dense, infill location. The property is surrounded by a multitude of restaurants and retailers including the Altamonte Springs Mall, Macy’s, Dillard’s, Sears, Barnes & Noble, Publix, Whole Foods, Starbucks, Chili’s, Burger King, Burlington Coat Factory, Denny’s, and Ross.
First Vice President Investment