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INVESTMENT HIGHLIGHTS
LONG-TERM NET LEASE WITH STRONG ANNUAL INCREASES – 15-year net lease with 3.0% annual rental escalations. The landlord is responsible for maintaining the foundation, exterior, and roof. The tenant handles all common areas, including parking, and HVAC maintenance and repair. The lease allows for a management fee equal to 5% of gross rents + CAM (approx. $30k annually).
HUGE TENANT INVESTMENT | BELOW REPLACEMENT COST – The tenant improvements total $5 million, including $3.6 million in unamortized tenant funded improvements allowing for an asking price that is below the replacement cost.
TAMPA MSA ACQUISITION OPPORTUNITY – The Tampa metro area is the second-largest metropolitan area in Florida and the 18th largest in the United States with an estimated population of 3.17 million as of 2022.
INCOME TAX-FREE STATE – The State of Florida does not have individual state income tax. This is a very attractive feature to net lease investors and lends itself to Florida being one of the most attractive states in the minds of net lease investors.
MISSION CRITICAL FACILITY | STATE-OF-THE-ART – This facility was built to expand Option Care's capacity to provide vital services to more patients in the Tampa / St Pete area who rely upon complex infusion therapies. The pharmacy, also know as a Care Management Center (CMC), features an IS07 certified clean room and is designed to comply with USP 797 guidelines. Approximately 45 full time professionals will be employed at this location.
PUBLICLY TRADED PARENT – The tenant entity is the largest Subsidiary of Option Care, Inc. Option Care will provide a letter of credit for Option Care Enterprises stating a minimum net worth of $100+ million.
SUPERIOR VISIBILITY & TRAFFIC COUNTS – The Property is strategically positioned off W Waters Ave and the Veterans Expressway which sees a combined 131,000 vehicles per day. The subject Property is directly adjacent to national retailers including Target, Lowe's, Walgreens, Chick-fil-A, Dunkin, and Panera Bread.
