Clinical Care Medical Condominiums

For Sale

151 NW 11th Street, Homestead, FL 33030

This Homestead property for sale is located at 151 NW 11th Street. The general use of Clinical Care Medical Condominiums is office and it incorporates 5,726 square feet of class B office space. The current listed sale price for Clinical Care Medical Condominiums is $2,721,000.

Contacts

broker

Jonathan Peranich

Peranich Huffman Net Lease Group

Property Details

  • Property Type Office - Medical Office
  • Property Size 5,726 SF
  • Units 2
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Building Class B
  • Year Built 1985
  • Year Renovated 2020
  • Date Updated Aug 3, 2024
-Overview Peranich Huffman Net Lease Group is pleased to exclusively offer for sale, the Clinical Care Medical Centers condominiums located in Homestead, FL. Priced at a 7.00% capitalization rate, the offering provides an investor the opportunity to acquire two Clinical Care condominiums in Miami-Dade county. Around 30 miles from Miami, the retail area surrounding the subject property offers a robust commercial environment. Located in the heart of Homestead, the property is part of a bustling shopping district that includes major retailers such as Walmart Supercenter, Lowe's, Publix and Home Depot. The property's strategic location near US-1 and the Florida Turnpike ensures easy access and high visibility. Lease Executed in 2017 for an initial 10-year lease term, the lease comprises of all five Clinical Care condominiums. Clinical Care extended the term for an additional 10 years in 2020, demonstrating their commitment to the location. Clinical Care has 11 years of lease term remaining with (1) 5-year renewal option. Rental rate escalations will increase the Net Operating Income by 2.50% annually in both the primary term and the option period. The lease is structured on an absolute net basis, designating the tenant as responsible for all operating expenses, including property taxes, insurance, common area maintenance, management fees, and condominium association fees. Tenant Founded in 1997, Clinical Care Medical Centers, formerly MBMG Medical Centers, has served South Florida for over 25 years. Clinical Care is focused on targeted, preventative, team-based medicine, specializing in over 12 fields such as primary care, cardiology, endocrinology, optometry, and psychiatry. As a top-ranked medical care group with 25 centers across Florida, 13 of which are in Miami-Dade County, Clinical Care has developed strong relationships with local communities, insurance partners, and healthcare partners.

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Highlights

  • Absolute Net Lease - The lease is structured on an absolute net basis, whereby the tenant is solely responsible for all costs associated with the subject property. The landlord has zero obligations or responsibilities related to expenses.
  • Corporately Guaranteed - The lease is backed by Clinical Care Medical Centers (MB Medical Operations, LLC), a value-based, multi-specialty provider operating in 25 medical centers across Florida.
  • Non-Income Tax State - Serving as a major benefit to the landlord, as of 2024, nine states: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming -- levy no state income tax.
  • Rent Escalations - Offering as a hedge against inflation, the lease provides for annual rental rate escalations of 2.50% throughout the remainder of the term and option period.

Attachments

Getting around

  • 65/100

    Walk Score ®

  • 34/100

    Transit Score ®

  • 79/100

    Bike Score ®

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Location

  • City Homestead, FL
  • Neighborhood Hibiscus Park - Royal Palm
  • Zip Code 33030
  • Market Miami

Points of Interest

  • Monorail Station 4

    9.84 miles

  • Mobil

    0.30 miles

  • Exxon

    0.32 miles

  • Chevron

    0.36 miles

  • Chevron

    1.04 miles

  • Mobil

    1.33 miles

  • Exxon

    1.36 miles

  • Holiday Motel

    1.43 miles

  • Citgo

    1.74 miles

  • Tesla Supercharger

    1.75 miles

  • RaceTrac

    1.86 miles

  • Southwest 296th Street Park and Ride

    1.88 miles

  • Southwest 344th Street Park and Ride

    2.26 miles

  • Lot C

    4.28 miles

  • Lot L

    4.35 miles

  • Lot B

    4.35 miles

  • Lot A

    4.45 miles

  • Lot D

    4.45 miles

  • Yellow Lot

    4.47 miles

  • South Blue Lot

    4.61 miles

  • Lot K

    4.68 miles

  • Bel-Air Motel

    0.19 miles

  • Tradewinds Motel

    0.29 miles

  • Greenstone Motel

    0.62 miles

  • Hotel Redland

    0.87 miles

  • Landmark Hotel

    0.89 miles

  • Anhinga Motel

    0.97 miles

  • Days Inn Homestead

    0.98 miles

  • The Inn of Homestead

    1.01 miles

  • Floridian Hotel

    1.01 miles

  • Garden Inn Homestead

    1.05 miles

  • Tropical

    0.24 miles

  • Homestead Station

    0.84 miles

  • Homestead Towne Square

    1.11 miles

  • Publix

    1.14 miles

  • Marshalls

    1.17 miles

  • Walmart Neighborhood Market

    1.34 miles

  • ALDI

    1.60 miles

  • Florida Keys Outlet Center

    2.04 miles

  • Kohl's

    2.32 miles

  • Ross

    2.42 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Jonathan Peranich

Peranich Huffman Net Lease Group