MyEyeDr NNN Leased Bldg - Hwy 17 Williamston

Office for Sale
Catylist Listing ID: 30478724
Property Subtypes: Medical
Building Size (RSF): 3,748 SF
Gross Land Area: 0.99 Acres
Sale Price: $1,149,942
Unit Price: $306.81 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN)
Building Name: MyEyeDr
Class of Space: Class A
Usable Size (USF): 3,748 SF
Sale Terms: Cash to Seller
Auction License Number: n/a
Cap Rate: 7.0%
Last Updated: 9/20/2019

Overview / Comments

This 3,748 SF building sits on 1.90 acres, directly off Hwy 17 Business. The property is currently being leased by a national tenant "My Eye Dr." A five year lease was executed in May of 2018 with two five year extensions. This property serves as one of the limited options for clients in a tertiary market. The 2019 NOI is $80,496 with 2% annual escalations, the practice utilizes 3 exam rooms, 1 pre-exam room, 2 contacts lens fitting rooms and a private office for the physician. The upstairs section of the building houses a large storage room. The corporate brand was recently acquired by Goldman Sachs for $2.7 billion dollars, official press release and statement attached.

Additional Details

Nearest MSA: Greenville
County: Martin
Submarket Type: Central Business District
Taxing Authority: Martin County
Tax ID/APN: Tax ID: 0505804 APN: 5776-24-9606
Zoning: COMMERCIAL
Property Located Between: Garrett Rd & Davis Dr
Property Visibility: Excellent
Highway Access: Hwy 17 Business
Airports: OCW & PGV
Site Description: The building was built on a double lot, allowing for future development of the site. This feature allows for growth without having to purchase land as utilities are already tied in.
Area Description: This bustling area of Williamston serves one of the busiest business districts in town. A Wal-Mart super center is directly across the street, with retail, restaurants and banking located in the immediate area as well, the property has great long-term value potential. Martin General hospital is less than 5 minutes away from this property.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,748 SF
Year Built: 2009
Year Renovated: 2009
Roof Type: Gable
Construction/Siding: Concrete
Exterior Description: The exterior of the building was constructed using concrete block. This material will stand the test of time with minimal maintenance costs and superior durability when compared to other building materials. The metal roof is very durable and energy efficient, allowing for low energy and maintenance costs for the owner.
Parking Type: Surface
Parking Description: With a large dedicated parking lot, this property offers customers and staff the luxury of a safe and easily accessible parking area. The parking lot is large enough to handle the influx of traffic in the event the owner decides to develop the second lot next to the existing building.
Total Parking Spaces: 36
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: The interior has been meticulously maintained by the current owner and is in excellent condition. The building was constructed in 2009 so it is fairly new.
Zoning Description: Commercial
Lot Frontage: 180'
Lot Depth: 227'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,942 7,516 8,971
Median Age: 43.92 43.43 43.01
Households: 870 3,262 3,833

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