Newly-Constructed Medical Office in Lake Nona Sells for $1,710,000.00
The sale of the 3,500 square foot medical office located at 10129 Clear Vista Street, Orlando (Lake Nona), Florida 32832 closed on Tuesday, September 8, 2020. The converted purchase price is $1,710,000.00 ($488.57/sf). The total land area is 0.32 acres.
M Paul General Contractors commenced construction of the building in December 2019, shortly after the seller, Rawal Nona Holdings LLC acquired the vacant property in early 2019.
The buyer, Onemed Holdings, LLC, is a newly formed Florida limited liability company, controlled by three local physicians: Drs. Luis G. Allen, Carlos H. Ruiz, and Peter Ganpat.
The seller, Rawal Nona Holdings LLC, is controlled by Dr. Sundeep Rawal, a prominent physician practicing prosthodontics.
Centerstate Bank financed the purchase of the property and extended a loan to the buyer in the amount of $1,493,000.00.
The property is subject to a deed restriction filed in 2019 (prior to the seller's acquisition of the property) by the declarant/developer, Anon, LLC. In relevant part, the deed restriction prevents any part of the subject property (acquired by Onemed Holdings LLC) or the larger "Professional Center" from being used for any purpose other than a "Permitted Use." This restriction expires on January 1, 2033.
The Permitted Uses are limited to: (1) Healthcare Practitioner Office; (2) architectural office; (3) engineering office; (4) full service law firm; (5) insurance office; (6) accountant or tax preparer office; or (7) real estate office.
Hopefully the new buyer has no plans to open a tattoo parlor.
For more information about this property, or any other, please do not hesitate to contact me:
Chirag B. Kabrawala
Kabrawala Law Group PLLC