Clinical Care Medical Office Condominiums

12550 Biscayne Boulevard, North Miami, FL 33181

  • For Sale $6,982,000
  • Property Type Office - Medical Office
  • Property Size 9,800 SF
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Building Class A
  • Year Built 1972
  • Year Renovated 2017
  • 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 North Miami, FL. Priced at a 7.00% capitalization rate, the offering provides an investor the opportunity to acquire five Clinical Care condominiums in the nine-story Biscayne Blvd building. Five minutes from the beaches of Miami and fifteen minutes from downtown Miami, the subject property is positioned alongside North Miami's main retail corridor with traffic counts averaging over 50,000 vehicles per day. Nearby national retail tenants along Biscayne Boulevard include: Publix, WholeFoods, Home Depot, LA Fitness, Target, Costco and more. 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 13+ years of lease term remaining with (1) 5-year renewal option. Rental rate escalations will increase the Net Operating Income by 2.0% 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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Attachments

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 2.0% throughout the remainder of the term and option period.

Contacts

broker

Jonathan Peranich

Peranich Huffman Net Lease Group

Location

Getting Around

  • Walk Score ®

    89/100 Very Walkable

  • Transit Score ®

    45/100 Some Transit

  • Bike Score ®

    64/100 Bikeable
Powered by Walk Score ®
  • City North Miami, FL
  • Neighborhood Emerald Lake Park - Coconut Creek
  • Zip Code 33181
  • Market Miami

Points of Interest

  • Tri-Rail Transfer

    6.82 miles

  • Adrienne Arsht Center

    7.28 miles

  • School Board

    7.36 miles

  • Santa Clara

    7.42 miles

  • Freedom Tower

    7.92 miles

  • Hialeah

    8.03 miles

  • College North

    8.04 miles

  • Wilkie D. Ferguson, Jr.

    8.10 miles

  • Miami Avenue

    8.44 miles

  • Third Street

    8.53 miles

  • Chevron

    0.32 miles

  • ChargePoint

    0.34 miles

  • Chevron

    1.19 miles

  • Costco Gasoline

    1.59 miles

  • Exxon

    1.71 miles

  • SemaConnect Charging Station

    1.85 miles

  • Valero

    2.31 miles

  • Marathon

    2.41 miles

  • Valero

    2.56 miles

  • Murphy USA

    2.63 miles

  • AC2 Loading Area Parking Lot

    1.85 miles

  • Bayview Parking Lot

    1.86 miles

  • Brown Lot

    1.90 miles

  • Green Lot

    1.99 miles

  • Municipal Garage

    1.99 miles

  • AQRC Parking Lot

    2.04 miles

  • Bal Harbour Shops

    2.34 miles

  • Pier Park Lot

    3.68 miles

  • Municipal Parking - 175 Terrace Lot

    4.06 miles

  • Heritage Park Public Parking

    5.03 miles

  • Best Western Plus Windsor Inn

    0.25 miles

  • Leeward Motel

    0.55 miles

  • The Altair Bay Harbor Hotel

    1.90 miles

  • Bay Harbor 10076 E

    1.99 miles

  • The Landon, Ascend Hotel Collection

    2.12 miles

  • Grand Beach Hotel Bay Harbor

    2.16 miles

  • Bal Harbour Quarzo Hotel

    2.43 miles

  • Sea View Hotel

    2.51 miles

  • The Saint Regis Bal Harbour Resort

    2.53 miles

  • The Ritz-Carlton Bal Harbour, Miami

    2.54 miles

  • Boston Market

    0.03 miles

  • Evio's Pizza

    0.04 miles

  • Dunkin'

    0.06 miles

  • Wendy's

    0.11 miles

  • Petit Rouge

    0.12 miles

  • La Brasa Grill

    0.17 miles

  • Arigatai Sushi

    0.19 miles

  • IHOP

    0.20 miles

  • Anthony's Coal Fired Pizza

    0.20 miles

  • Tokyo Bowl

    0.21 miles

  • Johnson and Wales University

    0.18 miles

  • Star Bright Preschool

    0.25 miles

  • Atlantic International University

    0.40 miles

  • North Miami Early Childhood School

    0.57 miles

  • Temple Beth Moshe Preschool

    0.58 miles

  • William Jennings Bryan Elementary School

    0.63 miles

  • Bethany Evangelical Covenant Kindergarten

    0.68 miles

  • Lear School

    0.89 miles

  • Natural Bridge Elementary School

    0.91 miles

  • Natural Bridge Head Start

    0.93 miles

  • North Miami Early Childhood and Day Care Center

    0.89 miles

  • Star Bright Child Development Center

    1.08 miles

  • Saint Pauls United Methodist Church Day Care Center

    1.09 miles

  • My Kids Place Christian Day Care Center

    1.10 miles

  • Bryan Day Care Center

    1.24 miles

  • Small Wonders Child Care Center

    1.28 miles

  • Toddler's Inn

    1.30 miles

  • My Second Home Loving Care Day Care Center

    1.31 miles

  • Donald's Day Care Center

    1.42 miles

  • JMD Loving Day Care Center

    1.52 miles

Frequently Asked Questions

How much does Clinical Care Medical Office Condominiums cost?

The space currently listed for sale at Clinical Care Medical Office Condominiums asks for $6,982,000.

What is the total square footage of Clinical Care Medical Office Condominiums?

Clinical Care Medical Office Condominiums totals 9,800 square feet.

When was this property built?

Clinical Care Medical Office Condominiums was built in 1972.

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Contact Listing Broker

broker

Jonathan Peranich

Peranich Huffman Net Lease Group