Medical Office Building at 3280 Ponce De Leon Blvd Listed

Marcus & Millichap is pleased to present 3280 Ponce De Leon Blvd in Coral Gables, a rarely available freestanding medical office building with ample parking and development rights. Situated on a ±20,157 square foot land parcel, it features a fully occupied building of ±14,630 Sq. Ft. The building is home to DaVita Dialysis Center, a wholly-owned subsidiary of DaVita Inc. (NYSE: DVA), a leading healthcare provider with a strong corporate guarantee (S&P rating: BB). Originally occupied in 1994 by HealthSouth Kidney Care, Davita took possession in 2006. Thereafter, the building underwent significant enovations at the tenants' sole cost and expense including a new elevator, impact windows, HVAC's, boiler system, electrical, plumbing, and updated interior configurations. Additionally, Davita completed the building re- certification in 2021. Located on Ponce de Leon Boulevard, one of Coral Gables’ busiest commercial corridors, the property benefits from excellent visibility and proximity to key business and retail hubs. Situated within four blocks of The Plaza, The newly developed 7-acre mixed-use project spans 2.3 million Sq. Ft and includes luxury office spaces, with high-profile tenants that include Apple and FIFA. The development also features retail outlets, residential apartments, townhomes, and the Five-star Loew's hotel, offering a blend of upscale living, business, and shopping amenities. The property is situated less than half a mile from Miracle Mile which serves as the city's downtown area. The iconic shopping district is renowned for its high-end boutiques, fine dining, and vibrant cultural attractions. Additionally, the property is located just north of the Village of Merrick Park, a prestigious open-air shopping and lifestyle destination featuring luxury brands, gourmet restaurants, and upscale residential options. This investment opportunity offers not only a stable, long-term tenant in DaVita Inc. but also the advantage of a future development or repositioning of the building at market rent. The MX-1 zoning allows for 125 units per acre which would Allow for 57 multifamily units and Four stories in Height.