Concentra Urgent Care

Jacksonville, FL

Key Details

Price:$4,200,000
Cap Rate:5.78%
Annual Rent:$242,603
Address:1524 Normandy Village Parkway, Jacksonville, Florida 32221
Property Type:Office
Lease Type:Double Net (NN)

Property Data

Original Lease Term:10 Years
Lease Commencement:9/1/2022
Lease Expiration:8/31/2032
Lease Term Remaining:7.8 Years
Rental Increases:5.00% Every 2 Years
Lot Size:2.12 Acres
Building Size:8,360 SF
Year Built:2020
NNN Pro is pleased to present the exclusive listing for a Concentra Urgent Care located at 1524 Normandy Village Parkway, Jacksonville, Florida 32221. The site consists of roughly 8360 rentable square feet of building space on an estimated 2.12-acre parcel of land. This Concentra Urgent Care is subject to a 10-year Double Net (NN) lease, which commenced 9/1/2022. The current annual rent is $242,603 and has scheduled increases of 5.00% Every 2 Years.

About the Investment

  • Double-Net (NN) Lease | Limited Landlord Responsibilities | The lease of the subject property is double-net (NN), with the landlord responsible for maintaining the roof and structure of the property, originally constructed in 2021.
  • 5.00% Rental Increases Every Two (2) Years | Two (2), Four (4)-Year Options At Fair Market Value (FMV) | The lease is subject to healthy 5.00% rental increases every two years, allowing an investor to increase the potential yield of the asset. There are two, four-year options remaining after the original lease's expiration in 8/31/2032.
  • Original 10-Year Lease | 7.9 Years Remaining | Approximately 16+ Years Of Potential Lease Term Remaining | The property is subject to an original 10-year lease with Concentra Urgent Care, and approximately 7.9 years remain on the lease with two, four-year options.
  • Property Originally Constructed In 2020 | 2.13-Acre Lot | The subject property was originally constructed in 2021, and is situated on a large 2.13-acre lot.

Talk to the Pros

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Glen Kunofsky

gkunofsky@nnnpro.com
License: NY: 49KU1129178
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Ryan Duffy

rduffy@nnnpro.com
License: NY: 10401294060
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Judson Kauffman

jkauffman@nnnpro.com
License: NY: 10401296108
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Hannan Ben Yosef

hbenyosef@nnnpro.com
License: NY: 10401358655
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Matt Sorace

msorace@nnnpro.com
License: NY: 10401367850

Broker of Record

Brian Brockman

Bang Realty-Naples, Inc
License: BK3327646
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.