Skip to main content

Single-Tenant Office Medical

Seacoast National Bank Ground Lease (Subleased to Orlando Health, Inc.)

5409 Deep Lake Rd, Oviedo, FL 32765

Listing Price: $2,530,000

Cap Rate
5.50%
Tenant Name
Seacoast National Bank
Years Remaining On Lease
7.0
Gross SF
5,280
Guarantor
Corporate Guarantee
Rentable SF
5,280
Price/Gross SF
$479.17
Lease Type
NNN Ground Lease
Rent Per Square Feet
$26.35

Investment Overview

LEASE AND TENANT HIGHLIGHTS:
- Absolute NNN Ground Lease with Seacoast National Bank - Subleased to Orlando Health, Inc.
- Approximately 7.5 years remaining with a 10% rental increase coming in 2023 - Orlando Health, Inc. sublease has annual escalations of 2.75%
- Seacoast National Bank was founded in 1926 and currently has nearly 50 traditional bank branches throughout Florida and is headquartered in Stuart
- Seacoast National Bank is one of the largest community banks headquartered in Florida with approximately $8.8 billion in assets and $7.4 billion in deposits as of March 31, 2021
- The parent company, Seacoast Banking Corporation of Florida is publicly traded on NASDAQ (Ticker SBCF)
- Seacoast Banking Corporation just reported a 15% increase in net income for 1st quarter 2021 to $33.7M - recently acquired Legacy Banks five Florida branches which had deposits of $432M
- Orlando Health, Inc. is a 3,200-bed system that includes 15 wholly-owned hospitals, over 4,000 physicians with more than 80 medical specialties, and nearly 22,000 employees
- Orlando Health served nearly 150,000 inpatients and nearly 3.1 million outpatients in 2020

LOCATION HIGHLIGHTS:
- Property sits as an outparcel to Walmart Supercenter and Kohl's
- Directly off State Highway 417 and across from a Publix anchored shopping center
- High income area - AHI in the 1-mile radius is over $114,000 and over $86,000 within the 3-mile and 5-mile radius
- Densely populated area- over 8,500 residents within 1 mile and over 250,000 within 5 miles
- Oviedo, FL is located just 20 miles northeast of Orlando and is part of the Orlando-Kissimmee-Sanford MSA, which is among the largest and fastest growing MSA's in Florida with over 2.6 million residents
- Orlando is one of the most popular tourist destinations in the world that draws more than 60 million visitors annually
- High traffic location - over 71,000 cars/day on Highway 417 and 40,000 on Deep Lake Road

Investment Highlights

  • Absolute NNN Ground Lease with Seacoast National Bank - Subleased to Orlando Health
  • Approximately 7.1 years remaining with a 10% rental increase coming in 2023
  • Seacoast National Bank was founded in 1926 and currently has nearly 50 traditional

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Financing By

Single-Tenant Office Medical

Seacoast National Bank Ground Lease (Subleased to Orlando Health, Inc.)

Listing Price: $2,530,000

Cap Rate
5.50%
Tenant Name
Seacoast National Bank
Years Remaining On Lease
7.0
Gross SF
5,280
Guarantor
Corporate Guarantee
Rentable SF
5,280
Price/Gross SF
$479.17
Lease Type
NNN Ground Lease
Rent Per Square Feet
$26.35

Investment Highlights

  • Absolute NNN Ground Lease with Seacoast National Bank - Subleased to Orlando Health
  • Approximately 7.1 years remaining with a 10% rental increase coming in 2023
  • Seacoast National Bank was founded in 1926 and currently has nearly 50 traditional

Investment Overview

LEASE AND TENANT HIGHLIGHTS:
- Absolute NNN Ground Lease with Seacoast National Bank - Subleased to Orlando Health, Inc.
- Approximately 7.5 years remaining with a 10% rental increase coming in 2023 - Orlando Health, Inc. sublease has annual escalations of 2.75%
- Seacoast National Bank was founded in 1926 and currently has nearly 50 traditional bank branches throughout Florida and is headquartered in Stuart
- Seacoast National Bank is one of the largest community banks headquartered in Florida with approximately $8.8 billion in assets and $7.4 billion in deposits as of March 31, 2021
- The parent company, Seacoast Banking Corporation of Florida is publicly traded on NASDAQ (Ticker SBCF)
- Seacoast Banking Corporation just reported a 15% increase in net income for 1st quarter 2021 to $33.7M - recently acquired Legacy Banks five Florida branches which had deposits of $432M
- Orlando Health, Inc. is a 3,200-bed system that includes 15 wholly-owned hospitals, over 4,000 physicians with more than 80 medical specialties, and nearly 22,000 employees
- Orlando Health served nearly 150,000 inpatients and nearly 3.1 million outpatients in 2020

LOCATION HIGHLIGHTS:
- Property sits as an outparcel to Walmart Supercenter and Kohl's
- Directly off State Highway 417 and across from a Publix anchored shopping center
- High income area - AHI in the 1-mile radius is over $114,000 and over $86,000 within the 3-mile and 5-mile radius
- Densely populated area- over 8,500 residents within 1 mile and over 250,000 within 5 miles
- Oviedo, FL is located just 20 miles northeast of Orlando and is part of the Orlando-Kissimmee-Sanford MSA, which is among the largest and fastest growing MSA's in Florida with over 2.6 million residents
- Orlando is one of the most popular tourist destinations in the world that draws more than 60 million visitors annually
- High traffic location - over 71,000 cars/day on Highway 417 and 40,000 on Deep Lake Road

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

Financing By

MM Texture Background
MM Textured Background Lower