SRS Real Estate Partners Facilitates $4.8 Million Medical Office Property Sale in Daytona Beach

SRS Real Estate Partners has announced the completion of a $4.8 million ground lease sale for a single-tenant medical office property located at 2655 LGPA Boulevard in Daytona Beach, Florida. The property, occupied by Florida Health Care Plan, Inc., is secured by a 20-year absolute triple-net lease, ensuring long-term stability and minimal landlord responsibilities. This transaction underscores the robust demand for healthcare-related real estate, particularly properties with strong credit tenants and favorable lease terms.

The sale was facilitated by SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble, representing both the seller, a Florida-based developer, and the buyer, a private investor utilizing a 1031 exchange. The property attracted multiple full-price offers, a testament to its appealing combination of creditworthiness, lease duration, and pricing below the replacement cost of the tenant's improvements. According to Nutt, the healthcare real estate sector remains a resilient and highly sought-after investment category.

Strategically located off I-95 and near key amenities including a Publix-anchored shopping center and the Daytona International Speedway, the property's location adds to its investment appeal. This transaction is part of SRS Capital Markets' significant activity in the commercial real estate sector, with over $1.2 billion in deal volume completed this year alone. For more information on SRS Real Estate Partners and their services, visit https://srsre.com.