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
|
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 |
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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