Office Medical
Mia Aesthetics Surgery Center
705 16th St N, St. Petersburg, FL 33705
Listing Price: $8,195,405
Investment Overview
Marcus & Millichap is pleased to present 705 16th Street N, a single-tenant medical ambulatory surgery center (ASC) located in St. Petersburg, Florida. This 16,709 square foot facility is situated on 1.63 acres adjacent to BayCare St. Anthony's Hospital, a 395-bed regional academic medical center.
Mia Aesthetics Surgery Center
Investment Highlights
- NNN Lease Structure? Tenant pays taxes, insurance, maintenance and 100% of operating expenses? Delivering true passive landlord ownership?
- Ideal Immediate Location? Property is situated adjacent to St Anthony's BayCare Hospital? 395-bed hospital ? Region's largest academic hospital ?
- Replaceable Rental Rate? Tenant currently pays $31.68/ft? Market rents for an ASC in market are between $40.00 to $55.00 per sq/ft?
- Two (5) Year Renewal Options?: Tenant holds two five-year renewal options, providing potential for over 15 years of total lease term?
- Dense Surrounding Population? Property is situated only 1.6 miles from the heart of Downtown St Petersburg? St Petersburg is home to over a quarter million people and is a part of the Tampa metro that has over 3.3 million residents?
- Recent Capital Item Renovations? Tenant and landlord have invested over $1,000,000 into the facility over the past 5-years ? New roof in 2026? New HVAC in 2021? Extensive renovations to the ASC interior?
- 2.5% Annual Rent Escalations? Built-in 2.5% annual rent increases throughout the primary term and 3% in option ?
- Corporate Backed and Guaranteed Lease? Mia Services, the corporate entity, is the guarantor of the lease ? Corporate/financial guarantee to the lease? tenant reports financials to landlord?
Exclusively Listed By
Financing By
Listing Price: $8,195,405
Investment Highlights
- NNN Lease Structure? Tenant pays taxes, insurance, maintenance and 100% of operating expenses? Delivering true passive landlord ownership?
- Ideal Immediate Location? Property is situated adjacent to St Anthony's BayCare Hospital? 395-bed hospital ? Region's largest academic hospital ?
- Replaceable Rental Rate? Tenant currently pays $31.68/ft? Market rents for an ASC in market are between $40.00 to $55.00 per sq/ft?
- Two (5) Year Renewal Options?: Tenant holds two five-year renewal options, providing potential for over 15 years of total lease term?
- Dense Surrounding Population? Property is situated only 1.6 miles from the heart of Downtown St Petersburg? St Petersburg is home to over a quarter million people and is a part of the Tampa metro that has over 3.3 million residents?
- Recent Capital Item Renovations? Tenant and landlord have invested over $1,000,000 into the facility over the past 5-years ? New roof in 2026? New HVAC in 2021? Extensive renovations to the ASC interior?
- 2.5% Annual Rent Escalations? Built-in 2.5% annual rent increases throughout the primary term and 3% in option ?
- Corporate Backed and Guaranteed Lease? Mia Services, the corporate entity, is the guarantor of the lease ? Corporate/financial guarantee to the lease? tenant reports financials to landlord?
Investment Overview
Marcus & Millichap is pleased to present 705 16th Street N, a single-tenant medical ambulatory surgery center (ASC) located in St. Petersburg, Florida. This 16,709 square foot facility is situated on 1.63 acres adjacent to BayCare St. Anthony's Hospital, a 395-bed regional academic medical center.
Exclusively Listed By
Financing By
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