U.S. Department of Veterans Affairs & Evara Health Clinics
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Location
The Ficke Team of Colliers has been engaged to exclusively market the U.S. Department of Veterans Affairs (VA) and Evara Health Clinics office located at 26286 US Highway 19 North, Clearwater, FL 33761.
Originally built in 1984 and extensively renovated in 2021 and 2024 to suit the current tenants, the property features 41,604 rentable square feet on 4.19 acres and is 100% leased. The VA occupies space under a Modified Gross lease with ~11.5 years remaining on a 15-year term, while Evara Health is on a 20-year Triple Net (NNN) lease with ~19 years left, providing minimal landlord responsibilities.
The VA, a federal Cabinet-level agency, delivers essential healthcare and benefits to military veterans nationwide. The on-site Community-Based Outpatient Clinic (CBOC) provides services such as primary care, audiology, cardiology, dermatology, optometry, psychiatry, social work, and chronic disease education, with hospitalization handled through nearby facilities.
Evara Health, a not-for-profit Federally Qualified Health Center (FQHC), serves underserved communities in Pinellas County. Established in 1980, it operates 12+ health centers and a mobile medical unit, treating 60,000–70,000 patients annually. Services include primary care, pediatrics, dental, behavioral health, and specialty care, with a mission of equitable, patient-centered healthcare.
Located in Clearwater, FL, a Gulf Coast city known for world-class beaches, vibrant cultural amenities, and year-round appeal, the property benefits from strong demographics, tourism, and proximity to the greater Tampa Bay metropolitan area. Clearwater offers a blend of coastal living, recreational opportunities, and urban conveniences, making it both a popular destination and a desirable residential market.
- Long-Term Tenancy
- The VA holds an original 15-year firm lease with approximately 11.5 years remaining, while Evara Health is secured under a 20-year firm lease with about 19 years left.
- Strong Credit Quality
- The VA lease is backed by the U.S. Government, rated AA+ by Standard & Poor’s.
- Extensive Renovations
- Both tenants benefited from full renovation-to-suit upgrades completed in 2021 and 2024.
- Built-In Rent Growth
- Evara’s lease includes 3% annual operating cost escalations, while the VA’s lease provides for 1% annual escalations.
- Robust Local Demand
- Clearwater is home to approximately 7,700 veterans, reinforcing strong demand for veteran healthcare services.