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Humana Medical Plan Inc, the tenant, is a Fortune 500 Company whose subsidiary Elite Health provides a wide range of medical services. The 2 folios; 5480 & 5492 Griffin Rd have a building of 4,726 sf completed in 2017 on a 25,060sf lot with 26 parking spots. The 7-year lease commenced on Oct 2 2016. The last year of the lease commencing Sept 1, 2022 has an NOI of $131,345. Landlord’s responsibilities are limited to maintenance of the roof & structure. The tenant must give notice to exercise their first of 2 five-year renewals by 04/30/23. The NOI in the first year of the option is $135,286 with 3% increases annually. If the tenant (whose current rent is below- market) does not exercise its option it is projected that a new tenant would pay $37.50/sf generating an NOI of $169,012.
| DAYS ON MARKET | 219 | LAST UPDATED | 12/20/2022 |
|---|---|---|---|
| YEAR BUILT | 2017 | COMMUNITY | 3780 |
| COUNTY | Broward | STATUS | Sold |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | 3780 |
|---|---|
| CONSTRUCTION | BLOCK |
| LOT | 0.575 acre(s) |
| PARKING | Common,Guest,Handicap, 25 spaces |
| SEWER | Public Sewer |
| STORIES | 1 |
| TAXES | 20445 |
| WATER | Public |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Data last updated: 4/28/24 11:01 PM PDT.
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