152 Mcgregor RdDeLand, FL 32720

Property Details for 152 Mcgregor Rd

Year built

2004

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.29 AC

Property size (Sq ft)

6,495 SF

Property type

Specialty properties

Property subtype

Other specialty properties

APN

7028-16-00-0030

APU

702816000030

Description

This exceptional investment opportunity presents a 6,495 square foot medical office building in DeLand, Florida, currently leased to Veterinary Innovative Partners under a 10-year Absolute NNN lease commencing June 30, 2021, and expiring June 29, 2031. The lease includes a five-year option with 2% annual rent bumps. The property boasts a 7.00% cap rate and a current NOI of $114,298, with a price per square foot of $251.40. The building, constructed in 2011, sits on a 2.29-acre lot and enjoys 100% occupancy, secured by a corporate guarantee. Located at 152 McGregor Rd, DeLand, FL 32720, this single-tenant property benefits from its strategic position within a thriving medical and retail corridor, surrounded by major retailers including Publix, ALDI, TJ Maxx, Starbucks, CVS, Heartland Dental, Chick-fil-A, and AdventHealth. The property's strong financial performance is further supported by the robust and recession-resistant veterinary services market, projected to experience significant growth in the coming years. This fee-simple ownership offers a stable, high-performing asset with considerable long-term potential in a tax-free state. The remaining lease term is approximately 6.6 years. The below-market rent provides significant upside potential.

Location Insight

City

Deland

County

Volusia

State

Florida

Latitude

28.9858

Longitude

-81.3019

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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