Net Leased office condo for sale - Leland NC

Office for Sale
Catylist Listing ID: 30701401
Property Subtypes: Business Park, High-Tech, Medical, Net Leased, Office Building, Research & Development
Condo? Yes
Building Size (RSF): 3,531 SF
Gross Building Area: 32,271 SF
Sale Price: $567,645
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Usable Size (USF): 2,911 SF
Core Factor: 17.55%
Sale Terms: Cash to Seller
Average Occupancy Rate: 100
Last Updated: 4/7/2021

Overview / Comments

Net Leased office condo for sale.

Tenant is Novant Health - OB/GYN. Limited initial term remaining, tenant has two 3-year renewal options.

Currently upfit for medical, but recent revisions of condo docs allow for general office use.

Backs to 575-acre master planned community, and is surrounded by office and retail.

ZONING: https://library.municode.com/nc/leland/codes/code_of_ordinances?nodeId=PTIICOOR_CH66ZO_ARTVZODI_DIV1GE_S66-133REBUCOBUD

Attachments & Media

Current Tenants

Tenant Business Name Novant Health OB/GYN
Website URL https://www.novanthealthobgyn.org/locations--hours/leland/ecid/g
Industry Type Health Care and Social Assistance
Is Renting? Yes
Suite Number 200 202
SF of Space Occupied 2,911 SF
Escalations 2% on lease anniversary (12/01/21). For renewal periods, rent will adjust to fair market value if renewal period(s) are exercised.
Options Two 3-year renewal options

Additional Details

Nearest MSA: Wilmington
County: Brunswick
Taxing Authority: Town of Leland
Tax ID/APN: 047DB003 and 047DB005
Is Condo?: Yes
Zoning: LE C-2 (REGIONAL BUSINESS COMMERCIAL BUSINESS DISTRICT)
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 10,757 SF
Year Built: 2005
Roof Type: Flat
Parking Description: Ample parking, shared with other buildings. More than 100 immediately adjacent spaces to the building, with many more spaces throughout development.
Zoning Description: https://library.municode.com/nc/leland/codes/code_of_ordinances?nodeId=PTIICOOR_CH66ZO_ARTVZODI_DIV1GE_S66-133REBUCOBUDI

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,123 12,325 40,792
Median Age: 44.03 40.22 38.38
Households: 1,817 5,132 17,556
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