1653 Jess Parrish Ct

• Passive Investment — The tenant pays for all interior maintenance, repairs, and day-to-day expenses under this Modified Net lease, which is ideal for an out-of-state investor or those seeking passive income.
• Structured Rent Growth with Renewal Optionality — The lease includes 3% annual rental increases and two 5-year renewal options remaining, providing investors with embedded rent growth and a clear runway for the tenant to extend well beyond the current term.
• Corporate Credit Backing — The lease is backed by a corporate guarantor rather than an individual practice owner, providing investors with institutional-quality credit behind the rent stream rather than dependence on a single physician’s practice.
• Attractively Priced Relative to Comparables — Offered at $1,879,628 (8.00% cap / $300.50 PSF), the asset is competitively priced relative to comparable Pediatric Associates and pediatric/medical office trades across Florida.
• Proximity to Major Hospital & Medical Corridor — Positioned approximately one block from Parrish Medical Center, an active, well-capitalized hospital system that continues to invest in the area — including a recently approved $25 million technology and EHR investment and a new North Titusville healthcare center expanding oncology and outpatient services — supporting referral synergies and sustained demand.
• Supply-Constrained Pediatric Market — Titusville and Port St. John have very limited freestanding pediatric-dedicated medical office supply. Pediatric Associates stands alone as the anchor pediatric provider in both markets, minimizing re-tenanting risk and reinforcing the tenant’s rationale for remaining in place.
• Four Decades of Community-Rooted Care — Pediatric care has been delivered continuously from this location since 1983, with the current lead physician in place since the mid-1990s and significant career runway ahead – over 40+ years of combined tenure and continuity at the address.
• Scale of a Leading Nationwide Platform — Pediatric Associates operates 250+ locations nationally, employs 400+ pediatric providers, and serves more than 1.6 million patients annually, generating approximately $550 million in annual revenue.
• High Growth Market — The site serves an expanding population across central Brevard County, including Cocoa, Cocoa West, Port St. John, and Rockledge, supporting a durable and diversified patient base beyond the immediate trade area. Port St. John’s population nearly doubled between 2010 and 2020 (12,267 to 23,474) and continues growing at an estimated 3.5%+ annually, with 28.3% of area households including children under 18 – one of the strongest family-growth profiles in Brevard County.
• Recession-Resistant Care Category — Pediatric primary care generates recurring, non-discretionary patient visits that remain resilient through economic cycles, supporting long-term tenant stability.