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.
Courtesy of: Coldwell Banker Realty MIAMI Association of REALTORS® is not responsible for the accuracy of the information listed above. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program and the South East Florida Regional MLS and is provided here for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than the office owning this website are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Data provided is deemed reliable but not guaranteed. Copyright MIAMI Association of REALTORS®, MLS All rights reserved. Updated: 20th May, 2022 12:10 AM (UTC)
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