NNN Leased Medical Office in Summerville, SC

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30795860
Property Subtypes: Medical, Net Leased
Status: Pending/Contingent
Building Size (RSF): 4,133 SF
Gross Building Area: See Agent
Sale Price: $1,450,000
Unit Price: $350.83 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Last Updated: 4/30/2022

Overview / Comments

Strategically located along the path of development in Summerville, SC, this freestanding 4,133 sq ft Medical Office Building build-to-suit offers quick and easy access from downtown Summerville, Knightsville, Highway 78 and is a 5-minute drive to Nexton Parkway off Interstate 26 (Exit 197). 204 Parsons Rd is a sturdy long-term NNN leased commercial property investment with strong demographics. Desirable annual rent increase of over 9% in 2023 with subsequent annual rent bumps of 3% and renewal option with 3% annual increases. Average household income exceeds $82K within a 3-mile radius.

Additional Details

Nearest MSA: Charleston-North Charleston
County: Dorchester
Submarket/Township: 63 - Summerville/Ridgeville Area
Tax ID/APN: 137-01-00-031.000
Zoning: CN - Neighborhood Commercial District
Property Located Between: West Richardson Ave and Central Ave in Summerville
Property Visibility: Excellent
Highway Access: 5-minute drive to Nexton Parkway, Exit 197, Interstate 26. 3-minutes to Hwy 78. Quick easy access to Knightsville via Central Ave. Quick access to downtown Summerville.
Airports: 30 minute drive to Charleston International Airport
Site Description: Newly developed in 2019-2020 for Magnolia Endocrinology. See documents.
Area Description: The Maple St extension, running from Exit 197, Nexton Parkway Interchange will connect with Parsons Rd and is due for completion in mid-2024. Maple St to be widened to 4 lanes from Nexton Parkway crossing Highway 78, narrowing to 3 lanes, crossing West Richardson and connecting into Parsons.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2020
Roof Type: Gable
Construction/Siding: HardiePlank Siding, Wood Frame

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,444 47,527 106,775
Median Age: 38.71 36.58 35.22
Households: 2,041 17,968 39,706


Photograph of Listing Agent

Jonathan C Lee

Choice Realty, Inc. SCCMLS Member
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