Medical Office Building Northeast Florida 8614 Baymeadows Way, Jacksonville, FL 32256
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INVESTMENT OPPORTUNITY Medical Office Building Northeast Florida 8614 Baymeadows Way, Jacksonville, FL 32256 Investment Details > 12 Month NOI: $301,482 > Lease Type: NNN > Lease Expiration: 7 years from date of purchase > Offering Type: Fee simple Property Overview > Freestanding Medical Office Building in Jacksonville, Florida > Parcel ID: 152690-4000 > Land size: 5.03 acres > Building size: 16,905± SF > Zoning: IBP > Location: 8614 Baymeadows Way, Jacksonville > Parking area with 96± total spaces > 170,024 population within a 5 mile radius > Built 1986 CHUCK DIEBEL JOHN LINING FOR ADDITIONAL INFORMATION COLLIERS INTERNATIONAL | NORTHEAST FLORIDA Executive Vice President Senior Vice President 76 S. Laura Street | Suite 1500 | Jacksonville, FL 32202 CLICK HERE [email protected] [email protected] Please to complete PH +1 904 358 1206 +1 904 861 1112 +1 904 861 1121 our Confidentiality Agreement www.colliers.com/jacksonville 7203 Confidentiality & Disclaimer Statement Northeast Florida This Offering Memorandum contains select information pertaining to the business and affairs of the site located at 8614 Baymeadows Way, Jacksonville, FL 32256. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers International from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum from Colliers International, you agree: 1) The Offering Memorandum and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; and 3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition at 8614 Baymeadows Way, Jacksonville, FL 32256 or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memorandum. COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 2 7203 Northeast Florida TABLE OF CONTENTS I. Offering Summary ................................................................................. 4 COLLIERS TEAM Primary Contacts II. Demographic Snapshot ........................................................................ 8 CHUCK DIEBEL Executive Vice President [email protected] +1 904 861 1112 III. Area Maps ................................................................................... 9 JOHN LINING Senior Vice President [email protected] IV. Tenant Information ............................................................................. 11 +1 904 861 1121 V. Market Overview ................................................................................. 12 VI. About Colliers ..................................................................................... 15 This document has been prepared by COLLIERS INTERNATIONAL | Northeast Florida for advertising and general information only. COLLIERS INTERNATIONAL makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. COLLIERS INTERNATIONAL excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. COLLIERS INTERNATIONAL is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of COLLIERS INTERNATIONAL and /or its licensor(s). © 2018. All rights reserved. 7203 Offering Summary Northeast Florida INVESTMENT HIGHLIGHTS LOCATION HIGHLIGHTS > Baptist NNN Lease through 7 years after purchase > Near the corner of Baymeadows Road and Philips Highway > Offering type: Fee Simple > 372± feet of frontage on Baymeadows Way > 12 Month NOI $301,482 > Traffic Count: 31,000± AADT on Baymeadows Road and Baymeadows Way > Lease requires some owner management > Numerous retail, office and residential in the surrounding area > Close to I-95/Baymeadows Rd BAPTIST PRIMARY CARE RENT SCHEDULE Monthly Annual Months 1-12 $22,373.50 $268,487.00 Months 13-24 $22,932.84 $275,194.08 Months 25-36 $23,506.16 $282,073.92 Months 37-48 $24,093.81 $289,125.72 Months 49-60 $24,696.16 $296,353.92 Months 61-72 $25,313.56 $303,762.72 Months 73-84 $25,946.40 $311,356.80 SUITE 101 RENT SCHEDULE Monthly Annual Through 3/31/2020* $2,749.65 $32,995.75 *Discussions in process for co-terminus extension of this lease COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 4 7203 Site Plan Northeast Florida COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 5 Floor Plan Northeast Florida SUITE 100 SUITE 101 COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 6 Interior Photos Northeast Florida COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 7 8614 Baymeadows Way, Jacksonville 32256 Demographic Snapshot Northeast Florida Jacksonville Estimated Average Household Income St Johns River $70,333 $74,948 SITE $81,175 1 MILE 3 MILE 5 MILE Demographics Snapshot 1-Mile 3-Mile 5-Mile Population Estimate 2018 6,194 70,688 170,024 Average Age 33.4 35.7 37.4 Households Estimate 2018 2,772 31,836 73,206 2018 Avg. Household Income $70,333 $74,948 $81,175 Source: Esri Source: ©2018 Esri. COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 8 7203 October 31, 2018 ©2018 Esri Page 1 of 1 Jacksonville Metro & Regional Map Northeast Florida SITE COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 9 7203 Area Overview Northeast Florida Baymeadows Road Philips Hwy Prominence Office Park SITE Freedom Crossing Trail COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 10 7203 Tenant Information Northeast Florida BAPTIST PRIMARY CARE - INTERNAL MEDICINE GROUP Baptist Primary Care is the region’s largest primary care network with more than 100 physicians, including family physicians, pediatricians & internists. Baptist physicians create a personalized, comprehensive strategy for their patients’ health & wellness during all stages of life, from newborns to seniors. Baptist Primary Care has been in the forefront in North Florida for obtaining accreditation for its innovative model of patient centered medical home care that leverages teamwork and technology to provide high-quality care that is personalized, coordinated, convenient and focused on a long-term healing relationship. BAPTIST PRIMARY CARE - INTERNAL MEDICAL GROUP LEASE SUMMARY Lease Expiration: Seven years from date of sale Lease Type: NNN Current Rent: $268,482 Net Rentable SF: 15,430± SF DR. RANDALL A. RIEGLER, M.D. Randall Riegler is a board certified otolaryngologist with 36 years of experience. DR. RANDALL A. RIEGLER, M.D. LEASE SUMMARY Lease Expiration: 3/31/2020* Lease Type: NNN Current Rent: $32,995.75 Net Rentable SF: 1,475± SF *Discussion in process for co-terminus extension of this lease COLLIERS INTERNATIONAL | NORTHEAST FLORIDA P. 11 7203 Jacksonville Market Overview Northeast Florida Jacksonville Metro Key Industries The Jacksonville MSA, the largest city in area in the continental United States, port is the 14th largest in the United States and handles shipments from around the covers 875 square miles