Medical Office For Sale

Office for Sale
Catylist Listing ID: 30591745
Property Subtypes: Medical, Net Leased, Office Building
Condo? Yes
Building Size (RSF): 11,739 SF
Gross Building Area: 14,580 SF
Gross Land Area: 5.37 Acres
Sale Price: $2,000,000
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Building Name: 17th Street Medical Park
Class of Space: Class A
Usable Size (USF): 11,739 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/5/2020

Overview / Comments

Partially leased medical office condo close to hospital. Beautiful office park with ample parking - this is the nicest office option so close to NHRMC. Less than a mile away, easy to walk or drive.

Ideal for owner/operator or investor interested in leasing out one to three separate/interconnected medical office suites.

Also available for long-term lease, single tenant, with a minimum term of a 7 year term. Asking $18.00/SF NNN.

Currently Quest Diagnostics has a short-term lease in place. One vacant unit ready for a tenant with minimal upfit.

Currently, unit is demised into three separate/interconnected areas:

1) Quest Diagnostics has approx 8300 SF +/-. About 5000 SF is mostly open lab space, and;

1a) 3300 is administrative office, reception, conference, storage being used by Wilmington Pathology Associates under Quest's lease.

2) Vacant unit demised for general medical office, approx 3400 SF +/-

Condo documents require medical use. Condo fee is $1.76/SF billed quarterly.

Lease details and building plans available with a signed CA.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: City of Wilmington
Tax ID/APN: R05419-003-002-002
Is Condo?: Yes
Zoning: O&I
Property Visibility: Excellent
Highway Access: Fronts S. 17th Street
Airports: ILM
Site Description: Level lot, mature trees, with three medical office buildings.
Total Number of Buildings: 3
Number of Stories: 1
Typical SF / Floor: 15,000 SF
Year Built: 2004
Roof Type: Flat
Construction/Siding: Brick
Parking Ratio: 6.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Non-exclusive parking shared with condo association. Immediately adjacent to this office condo are 89 parking spaces with an approximate ratio of 6.1/1000 for the entire building, including unit 101 not offered for sale or lease as part of this listing.
Total Parking Spaces: 89
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,253 66,188 140,828
Median Age: 41.57 36.12 36.5
Households: 5,214 30,908 60,343
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