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

SRS Real Estate Partners has announced the $4.8 million ground lease sale of a newly constructed single-tenant medical office property in Daytona Beach, Florida, occupied by Florida Health Care Plan, Inc. This transaction underscores the robust demand for healthcare real estate assets, particularly those with long-term leases and strong credit tenants. The property, located at 2655 LGPA Boulevard, benefits from a 20-year absolute triple-net lease, offering investors long-term stability without landlord responsibilities.

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 deal closed at full asking price, reflecting the property's appeal due to its credit tenant, lease term, and purchase price significantly below the replacement cost of the tenant's improvements.

Nutt highlighted the property's attractiveness to investors, noting the successful national marketing campaign that generated multiple full-price offers. The selected buyer, a repeat client of SRS, has acquired six properties through the firm in the past six months, demonstrating a strong appetite for well-priced, credit-tenant medical assets. The healthcare real estate sector's resilience and appeal to investors were also emphasized.

Strategically located off I-95 and near Latitude Landings, a Publix-anchored center, the property is also close to Daytona International Speedway and Daytona International Airport, enhancing its value. SRS Capital Markets has been active in the commercial real estate sector, completing over $1.2 billion in deal volume this year across more than 350 transactions nationwide. With over 845 properties currently on the market valued at more than $3.7 billion, SRS continues to be a key player in the industry.

For more information on SRS Real Estate Partners and their services, visit https://srsre.com.