Medical Office Feasibility Study in the Tampa-St. Petersburg-Clearwater, FL Metro Area

Medical offices in Tampa Bay: a high cancellation floor

Cancellation is the plainest signal in this cell: 16.2% or more of the FY2017 to FY2024 physician-office approvals in Tampa Bay never closed after approval, and Loan Analytics withholds the upper bound and the write-off rate. The cell holds 129 approvals worth $84.3 million. Tampa Bay ranks 14 of 488 for the class across all areas; inside Tampa Bay the class is 5 of 39, and a location quotient of 1.50x shows physician offices weighing heavily in local lending.

The median is $414,500, 1.21x the national class median; the middle of the pack runs $208,000 to $835,300. SBA 7(a) carried 93 loans and SBA 504 carried 36, a substantial fixed-asset side for practices that buy or build. Loan Analytics withholds the franchise share, and no number appears for it here.

Credit providers and counties

JPMorgan Chase Bank, National Association holds 10 SBA 7(a) loans and $2.2 million, Newtek Bank, National Association 9 and $4.0 million, BayFirst National Bank 8 and $3.7 million, Wells Fargo Bank National Association 6 and $2.6 million, and Truist Bank 6 and $3.9 million. On SBA 504 the concentration is high: At Florida Business Development Corporation sit 23 loans ($20.9 million), Florida First Capital Finance Corporation, Inc. 7 and $4.0 million, and Sunshine State Economic Development Corporation 6 and $2.3 million. That is SBA's holder data and no judgment on practice. Hillsborough County, FL has 82 loans and Pinellas County, FL 33.

Yearly approvals held between 11 and 16 loans for most years, starting at 12 loans and $6.6 million in FY2017, peaking at 16 loans and $11.0 million in FY2021, and ending at 9 loans and $5.6 million in FY2026. The flow is steady, yet the falling count at the end deserves a note. Tampa Bay figures here depend on project-county placement in the 2023 delineation.

Testing a Tampa Bay medical office

A medical office study should test physician referral patterns and patient volume near the site in Hillsborough or Pinellas County, set the project against the offices already open, and price exam rooms, equipment and build-out against $414,500. Because so many approvals fell away, it should confirm the lease and equipment commitments early. Payer mix must cover debt service, and the appraisal covers the building. The 129 approvals bind no lender.