Fully Leased MOB Investment Property

Office for Sale
Catylist Listing ID: 30814224
Property Subtypes: Medical, Net Leased, Office Building
Building Size (RSF): 5,029 SF
Gross Building Area: See Agent
Sale Price: $2,625,000
Unit Price: $521.97 PSF
Property Use Type: Net Leased Investment (NNN)
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 5.75%
Last Updated: 11/14/2022

Overview / Comments

Class A office condo located in the medical district of West Ashley, 2 miles from Roper St Francis Bon Secours hospital and Roper Physicians Partners. Other tenants at 3531 Mary Ader include Carolina Neurological Clinic, Retina Consultants of Charleston, and Carolina Cataract & Laser Center.
*Leased on a 15-year base term plus options. Tenant is regional eye care organization with 50+ locations, and local operators have been in unit since it was built in 2005
*NNN with landlord responsible for structure, proportionate share of parking and major building systems (contact for full details)
*Recent roof repairs, and $30k in escrow for interior tenant improvements
*3.5% annual escalations throughout base term and options
*Citadel Professional Building HPR in effect

Building features:
*Large Open Reception Area
*Break Room
*2 Staff Bathrooms
*6 Exam Rooms
*Special Procedure Suite
*Cat 5 Wiring with Security System
*45 Parking Spaces for Complex (add'l staff parking on outparcel)

Additional Details

Nearest MSA: Charleston-North Charleston
County: Charleston
Submarket/Township: 12 - W.Ashley outside I-526 to Rantowles
Taxing Authority: Charleston County
Tax ID/APN: 306-00-00-143
Zoning: GB - General Business
Year Built: 2005
Part of Planned Development?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,345 49,711 102,700
Median Age: 35.81 36.07 36.42
Households: 1,844 21,423 43,688
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