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.
- Address 5480-5492 Griffin Rd
- City Davie
- County Broward County
- Zip 33314
- Price $2,750,000
- Status Closed
- Subdivision
- Pets Allowed No
- MLS® # A11195127
- Property Type Commercial Sale
- Property Sub TypeMixed Use
- Status Closed
- Square Feet
- Year Built 2017
- Waterfront No
- Maintenance Fees No Info Provided
- Taxes $20,445
- Tax Year 2021