Armenia Medical Office Building_Property for Sale
Armenia Medical Office Building_Property for Sale
509 S. Armenia Ave, Tampa, FL, 33609, US

Armenia Medical Office Building

Asset Description

JLL has been exclusively retained to offer qualified investors the opportunity to acquire the fee simple interest in the Armenia Medical Office Building (the “Property” or the “Armenia MOB”), a 20,000 square foot, Class A outpatient facility located in Tampa Florida. The multi-tenant medical office building is fully leased to two credit rated tenants, the University of South Florida Health (“USF Health”) (Moody’s Aa2) and Tampa General Hospital (“TGH”) (Fitch A). Specialties within the Property include cardiology and cardiovascular physical rehabilitation. The Property was originally constructed in 2004 and was extensively renovated in 2021 and 2022 with over $480,000 in capital improvements. The Property is a strategic outpatient location for both Tenants, less than 1.5 miles from the 1,041 bed Tampa General Hospital, the largest hospital in the exceedingly high barrier entry South Tampa healthcare ecosystem, consisting of world-class hospitals, research institutions, specialty centers, physicians, and staff.

The offering is a rare opportunity to acquire a best-in-class medical office building in one of the nation’s fastest growing metro areas with two market-leading healthcare tenants under long-term triple net leases. The Property is available for acquisition on a fee simple basis and free and clear of debt.



Building area Net
1,858 m²
Year built
Land area net
0.40 ha (4,047 m²)
THB 21,834,000


Investment Highlights

Exceptional, Long-Term Healthcare Investment

  • Scale in the market with 20,000 square feet
  • 10.5 years of remaining lease term on a triple net basis
  • Desirable healthcare tenancy with specialties including cardiology and cardiac rehabilitation

Desirable Investment Grade Tenancy

  • Over $1.6 billion in net patient revenue generated annually by Tampa General Hospital
  • USF Health is an academic health system in partnership with the University of South Florida
  • USF Health has more than 900 physicians and other health care professionals, in over 30 specialties, available to treat everything from the most common illness to the most complex disease
  • TGH is a 1,041-bed non-profit, tertiary, research and academic medical center located on Davis Island in Tampa, Florida, servicing western Florida and the greater Tampa Bay region
  • Tampa General Hospital is the primary teaching affiliate of the Morsani College of Medicine of University of South Florida

Location within the High Growth Tampa MSA

  • Situated along Central Florida’s west coast, Tampa is the 18th largest MSA in the United States with nearly 3.2 million residents and is home to five Fortune 500 Headquarters
  • The Tampa MSA is the second largest in Florida, growing, on average, by 125 people per day and 16.5% from 2010-2020
  • The Tampa area boasts great schools, healthcare, cultural amenities, and an affordable cost of living and doing business, which is why the area is consistently ranked as one of the top places to live and has recently become a magnet for relocations

Armenia Medical Office Building 4_Property for Sale
Armenia Medical Office Building 4_Property for Sale

Contact brokers

Armenia Medical Office Building (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
27 Jul 2023