Office Medical

St. Lucie Medical & Surgical Center

1715 SE Tiffany Ave, Port St. Lucie, FL 34952

Listing Price: $5,125,000

Cap Rate
6.66%
Gross SF
14,000
Rentable SF
14,000
Price/Gross SF
$366.07
Year Built
1990
Lot Size
1.42 acres

Investment Overview

Marcus & Millichap is pleased to present the St. Lucie Medical & Surgical Center located at 1715 SE Tiffany Avenue in Port St. Lucie, Florida. This multi-tenant medical office building is 14,000 square feet and is currently 86% percent occupied with one vacant unit of 1,985 SF available, offering upside potential . Both tenants in the building have five or more years remaining under their current lease term. This outpatient medical center features a variety of clinical/surgical ophthalmology services. The building has an approved fully licensed ambulatory surgery center. Additionally, the roof is still under warranty and five of the eight HVAC units have been replaced within the previous two years.

The anchor tenant, One Day Surgery Center, owned by AMSurg, occupies 47 percent of the rentable building area. They recently renewed their lease for 5 years showing their commitment to this location. Procedures include cataract surgery, refractive surgery, glaucoma treatments, among others. St. Lucie Eye Associates just renewed their lease and has 10+ years remaining with personal guarantees in place from the doctors.

St. Lucie Medical & Surgical Center is ideally positioned across from St. Lucie Medical Center, a 229-bed hospital affiliated with HCA Healthcare, Inc. HCA Healthcare, Inc owns and operates approximately 184 hospitals across 21 states and London, England. The asset is situated in a dense medical office corridor with nearly four million square feet of office and medical office space within five miles.

The property is easily accessible from US Hwy 1 (South Federal Highway), which experiences in excess of 45,000 vehicles per day. The new Crosstown Parkway Extension Project provides a new bridge crossing over the North Fork of the St. Lucie River in the City of Port St. Lucie, connecting the existing Crosstown Parkway from Manth Lane to U.S. 1.This will alleviate traffic congestion and lead to increasing traffic flow by the subject property.

St. Lucie Medical & Surgical Center is also located in a core retail market with seven million square feet of retail within five miles. The asset is four miles from Treasure Coast Square, an indoor mall & outdoor lifestyle center with over 120 stores. Other nearby retail includes Walmart Supercenter, Sams Club, Publix, CVS Pharmacy, ALDI, Lowes Home Improvement, Target, The Home Depot, among many others.

Port St. Lucie, Florida is situated halfway between Orlando and Miami along Floridas Atlantic Coast. The area features excellent demographics with over 120,000 residents with an average household income exceeding $61,00 within five miles of the asset.

The strategic location of this investment along with the strong in-place tenancy, with exceptional tenant build-outs and balanced rent roll, will help to ensure the long-term viability and stability of this investment moving forward.

Investment Highlights

  • New Lease Extension Signed by One Day Surgery Center & St. Lucie Eye Associates
  • Anchor Tenant One Day Surgery Center (47 Percent of GLA) is Owned by AMSurg
  • Strategically Located Adjacent to The St. Lucie Medical Center Campus (229 Beds)
  • Upside Through Lease Up of Vacant Unit
  • Great Demographics Over 120,000 People Within Five Miles | Increasing Population

Exclusively Listed By

Office Medical

St. Lucie Medical & Surgical Center

Listing Price: $5,125,000

Cap Rate
6.66%
Gross SF
14,000
Rentable SF
14,000
Price/Gross SF
$366.07
Year Built
1990
Lot Size
1.42 acres

Investment Highlights

  • New Lease Extension Signed by One Day Surgery Center & St. Lucie Eye Associates
  • Anchor Tenant One Day Surgery Center (47 Percent of GLA) is Owned by AMSurg
  • Strategically Located Adjacent to The St. Lucie Medical Center Campus (229 Beds)
  • Upside Through Lease Up of Vacant Unit
  • Great Demographics Over 120,000 People Within Five Miles | Increasing Population

Investment Overview

Marcus & Millichap is pleased to present the St. Lucie Medical & Surgical Center located at 1715 SE Tiffany Avenue in Port St. Lucie, Florida. This multi-tenant medical office building is 14,000 square feet and is currently 86% percent occupied with one vacant unit of 1,985 SF available, offering upside potential . Both tenants in the building have five or more years remaining under their current lease term. This outpatient medical center features a variety of clinical/surgical ophthalmology services. The building has an approved fully licensed ambulatory surgery center. Additionally, the roof is still under warranty and five of the eight HVAC units have been replaced within the previous two years.

The anchor tenant, One Day Surgery Center, owned by AMSurg, occupies 47 percent of the rentable building area. They recently renewed their lease for 5 years showing their commitment to this location. Procedures include cataract surgery, refractive surgery, glaucoma treatments, among others. St. Lucie Eye Associates just renewed their lease and has 10+ years remaining with personal guarantees in place from the doctors.

St. Lucie Medical & Surgical Center is ideally positioned across from St. Lucie Medical Center, a 229-bed hospital affiliated with HCA Healthcare, Inc. HCA Healthcare, Inc owns and operates approximately 184 hospitals across 21 states and London, England. The asset is situated in a dense medical office corridor with nearly four million square feet of office and medical office space within five miles.

The property is easily accessible from US Hwy 1 (South Federal Highway), which experiences in excess of 45,000 vehicles per day. The new Crosstown Parkway Extension Project provides a new bridge crossing over the North Fork of the St. Lucie River in the City of Port St. Lucie, connecting the existing Crosstown Parkway from Manth Lane to U.S. 1.This will alleviate traffic congestion and lead to increasing traffic flow by the subject property.

St. Lucie Medical & Surgical Center is also located in a core retail market with seven million square feet of retail within five miles. The asset is four miles from Treasure Coast Square, an indoor mall & outdoor lifestyle center with over 120 stores. Other nearby retail includes Walmart Supercenter, Sams Club, Publix, CVS Pharmacy, ALDI, Lowes Home Improvement, Target, The Home Depot, among many others.

Port St. Lucie, Florida is situated halfway between Orlando and Miami along Floridas Atlantic Coast. The area features excellent demographics with over 120,000 residents with an average household income exceeding $61,00 within five miles of the asset.

The strategic location of this investment along with the strong in-place tenancy, with exceptional tenant build-outs and balanced rent roll, will help to ensure the long-term viability and stability of this investment moving forward.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower