Doctor's Care

Office for Sale
Catylist Listing ID: 30631679
Property Subtypes: Medical
Building Size (RSF): 3,716 SF
Gross Building Area: See Agent
Sale Price: $2,060,633
Unit Price: $554.53 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.85%
Last Updated: 10/26/2020

Overview / Comments

This 3,700 sf freestanding medical office building was built to suit for Doctors Care in 2007. They have occupied the building ever since and have over 15 years + options remaining on their NNN lease. This site has great visibility from Folly Road with the closest traffic count being 43,800 (2018). This is the only urgent care facility south of the James Island connector, making it the most accessible urgent care for the majority of James Island, and the entirety of Folly Beach. All 68 Doctors Cares in South Carolina are owned by BlueCross BlueShield of SC who received their companies 18th straight A+ business risk rating this year. BlueCross BlueShield of SC is one of South Carolina's largest employers with over 11,000 employees. They are recognized as the "tenant" on the lease. Current NOI is $120,547 with a 7.5% increase on January 1st, 2022. This is a great opportunity to secure a long-term leased asset in a great location with a high credit tenant

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Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 21 - James Island
Taxing Authority: City of James Island
Tax ID/APN: 4250300047
Zoning: GB - General Business
Property Located Between: Folly Rd & Carlisle Rd
Airports: Charleston International
Site Description: This Doctors Care is located in the rapidly growing James Island submarket. It is one of three urgent care facilities on all of James Island and Folly Beach. This is the ONLY urgent care between the James Island connector and Folly Beach – making it the most accessible urgent care facility for the majority of James Island, and the entirety of Folly Beach. Folly Road has seen explosive growth over the last decade. The closest intersection, 0.15 miles away, has daily vehicle counts of 43,800 (2018). This Doctors Care has 100 feet of frontage on Folly Road.
Area Description: This section of Folly Road is stocked full of nationally accredited businesses. Some examples within 1 mile include: Lowe’s Home Improvement, Harris Teeter, BI-LO, Publix, Verizon, and Starbucks. Also, nearby are a surplus of gas stations, banks, offices, and restaurants to provide for the surrounding neighborhoods.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2007
Parking Type: Surface
Total Parking Spaces: 24
Interior Description: Lobby/reception area, five (5) exam rooms, two (2) offices, four (4) bathrooms, an x-ray room, and a laboratory room; all of which are well maintained and functional
Zoning Description: B-3, General Business in James Island. It is of conforming use

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,981 43,003 114,297
Median Age: 34.34 37.03 36.16
Households: 2,722 19,223 50,024
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