David Banks Of AdventHealth Purchases Office Building From J. Brannen Edge For $20.9M In Davenport
410 Lionel Way
$20,900,000
$484/SF
Building Size
43,100 SF
Asset Type
Office
Closing
Oct 7, 2026
About this deal
AI
The medical office building located at 410 Lionel Way in Davenport, Florida, encompasses 43,100 square feet and has been sold for a total of $20.9 million. The price per square foot is $485, and the property serves as an office asset in the local market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $20,900,000
- Buyer: David Banks - AdventHealth
- Seller: J. Brannen Edge - Flagship Healthcare Properties
- Market: Davenport, FL
- Square Footage: 43,100
- Price per Square Foot: $485
David Banks, representing AdventHealth, acquired the building from J. Brannen Edge of Flagship Healthcare Properties. Flagship had previously acquired the same property in 2021 for $10 million. AdventHealth has yet to disclose its future plans for this medical office building.
On the Map
$20,900,000
$484/SF
Office
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Players
Davenport Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93