Net Leased Investment Sale - Porters Neck Professional Center 2B

Office for Sale
Catylist Listing ID: 30765260
Property Subtypes: Office Building, Other
Condo? Yes
Building Size (RSF): 3,054 SF
Gross Building Area: 60,000 SF
Gross Land Area: 3.90 Acres
Sale Price: $850,000
Ceiling: 10 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Porters Neck Professional Center
Class of Space: Class A
Usable Size (USF): 2,545 SF
Core Factor: 20%
Sale Terms: Cash to Seller, Build-to-Suit
Cap Rate: Undisclosed
Last Updated: 10/4/2021

Overview / Comments

Investment Sale! Unit 2B net leased office condo for sale; tenant is Benjamin Friberg, DDS.

ALSO AVAILABLE ARE:
Unit 1A
6,063RSF
$1,995,000
Tenant is UCG/Medac
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Unit 2D
1,805RSF
$275,000
Tenant is PMG Research
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Unit 3B-R
4,473RSF
$1,140,000
Tenant is Samet Corporation
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Porters Neck Professional Center is a premier three-story condominiumized office building totaling approximately 60,000 Square Feet. One or more condos can be combined in a sale if desired.

The property is located at 8115 Market Street in the dynamic Porters Neck submarket of Wilmington, North Carolina. The property has an excellent traffic pattern with a direct right-in, right-out access from Market Street and interconnectivity with the Bayshore Commons Shopping Center, which provides accessibility to a stoplight intersection. The property is zoned B-2 and located within the New Hanover County zoning district.

Current occupants in the building include UCG/Medac, EmergeOrtho, Wilmington Ear Nose & Throat, Benjamin Friberg, DDS, Matsumoto, DDS, PMG Research, Provis Media and Samet Corporation. The building was originally constructed in 2006 with a modern and attractive design by architect, Michael Kersting. The building contains three stairwells and two elevators servicing all floors. Additionally, there are approximately 238 parking spaces available onsite. A variety of lease and/or purchase opportunities are available.

The ICAM is estimated at $3.00prsf reconciled annually. Taxes are paid separately and directly by the condo owner. Expenses are reimbursed by Tenant via TICAM.

Lease details available with executed CA.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover County
Tax ID/APN: R03600-003-124-005
Is Condo?: Yes
Zoning: B-2
Property Visibility: Excellent
Highway Access: I-140 via Hwy 17 (half mile)
Airports: ILM-Wilmington International Airport-20 minutes
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 20,000 SF
Year Built: 2005
Roof Type: Flat
Parking Type: Surface
Total Parking Spaces: 238
Passenger Elevators: 2
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Other
Internet Access: Cable
Zoning Description: B-2 in New Hanover County
Lot Frontage: 180 ft
Lot Depth: 975 ft
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,578 26,010 62,161
Median Age: 36.52 39.63 38.11
Households: 1,110 10,589 24,994
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