8.26 CAP Investment Sale Class A Medical Office Condo

Business Opportunity for Sale
Also listed as Office
Catylist Listing ID: 30028077
Property Subtypes: Office
Condo? Yes
Building Size (RSF): 2,775 SF
Sale Price: $460,000
Ceiling: 9 ft.
Year Business Established: 2012
Gross Revenue: $44,594 (Annual)
Cash Flow: $37,989 (Annual)
Sale Terms: Cash
Last Updated: 4/24/2018

Overview / Comments

Investment Sale! Medical Office Condo 2,775 SF. This unit is for sale and is located in the heart of Brunswick Medical Park, Building 10 - Suite 3. The Tenant has been in place since 2012. The tenant signed a new lease in 2017 for 5 years with (2) options to renew for (2) years. Dr. pays TICAM costs with rent.

Gross Rent: $44,594.25
Expenses: $6,604.50
NOI: $37,989.75
8.26 CAP: $460,000.00

Brunswick Medical Park is an office complex 45,000 SQ ft with four office buildings 85% occupied adjacent to the former Brunswick County Hospital building and uniquely suited for administrative offices and medical or professional service tenants. Tenant pays TICAM charges, Cable, Electric, HVAC Maintenance, Sewer & Water Fee, Common Area Maintenance (CAM) includes exterior building electricity, parking lot maintenance, and landscaping.

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Industry Segment: Other Office
Reason for Selling: This is an investment sale
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Real Estate Lease Description: Five year term with renewals
Competition/Market Description: Brunswick County number 1 growth County in NC
Growth/Expansion Opportunities: 2.5 % increases per year
Seller Financing Description: cash

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,589 11,382
Median Age: 41.34 48.13
Households: 1,055 4,857
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