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Single-Tenant Office Medical

CareMax

725 US-1, Fort Pierce, FL 34950

Listing Price: $4,666,514

Cap Rate
5.25%
Tenant Name
CareMax
Years Remaining On Lease
15.5
Guarantor
Corporate Guarantee
Rentable SF
11,264
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.75

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a CareMax located at 725 US-1, Fort Pierce, FL 34950. The property is currently undergoing significant renovations and set to be completed in the fall of 2022. The property is situated on US-1 on just under an acre of land. The building is approximately 11,264 square feet of net leasable area. CareMax recently signed a brand new 15-year NNN lease, with three percent annual rental increases and three five-year renewal options. Fort Pierce, often called the Sunrise City, has been the hub of St. Lucie County for over 100 years. Incorporated in 1901, the city grew from 300 pioneers to over 45,000 residents today and encompasses approximately 31 square miles. Fort Pierce is a diverse, yet neighborly community that embraces both the richness of its heritage and the promise of the future. CareMax, Inc. operates as a technology-enabled health care platform. The company provides value-based care and chronic disease management solutions to seniors. CareMax develops proprietary software and service platforms that provides data, analytics, and rules-based decision tools and workflows for physicians across the United States.

Investment Highlights

  • NNN Lease – Minimal Landlord Responsibilities
  • Brand New Remodel – Estimated $1M Towards Build Out
  • Signalized Intersection – Combined Traffic Count of 42,600 Vehicles Per Day
  • Tenant is a Publicly Traded Company – CMAX (NASDAQ)
  • Three-Mile Population of Ages 65+ is Projected to Increase 18% by 2026
  • 3% Annual Rent Increases, Providing a Hedge Against Inflation
  • Just Under an Acre Parcel, With Ample On-Site Parking
  • Just Off Interstate 95 – 85,000+ Vehicles Per Day

Exclusively Listed By

Financing By

Single-Tenant Office Medical

CareMax

Listing Price: $4,666,514

Cap Rate
5.25%
Tenant Name
CareMax
Years Remaining On Lease
15.5
Guarantor
Corporate Guarantee
Rentable SF
11,264
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$21.75

Investment Highlights

  • NNN Lease – Minimal Landlord Responsibilities
  • Brand New Remodel – Estimated $1M Towards Build Out
  • Signalized Intersection – Combined Traffic Count of 42,600 Vehicles Per Day
  • Tenant is a Publicly Traded Company – CMAX (NASDAQ)
  • Three-Mile Population of Ages 65+ is Projected to Increase 18% by 2026
  • 3% Annual Rent Increases, Providing a Hedge Against Inflation
  • Just Under an Acre Parcel, With Ample On-Site Parking
  • Just Off Interstate 95 – 85,000+ Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a CareMax located at 725 US-1, Fort Pierce, FL 34950. The property is currently undergoing significant renovations and set to be completed in the fall of 2022. The property is situated on US-1 on just under an acre of land. The building is approximately 11,264 square feet of net leasable area. CareMax recently signed a brand new 15-year NNN lease, with three percent annual rental increases and three five-year renewal options. Fort Pierce, often called the Sunrise City, has been the hub of St. Lucie County for over 100 years. Incorporated in 1901, the city grew from 300 pioneers to over 45,000 residents today and encompasses approximately 31 square miles. Fort Pierce is a diverse, yet neighborly community that embraces both the richness of its heritage and the promise of the future. CareMax, Inc. operates as a technology-enabled health care platform. The company provides value-based care and chronic disease management solutions to seniors. CareMax develops proprietary software and service platforms that provides data, analytics, and rules-based decision tools and workflows for physicians across the United States.

Exclusively Listed By

Financing By

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