Asking Price: $1,091,600
Building Size: 5,050 SQ FT
Cost per Square Foot: $216.16
Cap Rate: 7.00%
SVN is pleased to exclusively offer this Net Leased Medical Office Investment with Effingham Hospital System as the Lessee. The offering consists of a total 5,050 SF between (3) office condos comprised of (3) operating tenants through a partnership agreement. Suite 204, which is 1,750 SF in size has specialty practices (Vascular & Urology) sharing space and operating on alternating days with a lease expiration date of April 2022. Effingham Orthopedic Practice, LLC d/b/a Chatham Orthopaedics occupies (2) contiguous units of 1,650 SF each (Suites 303 & 304) totaling 3,300 SF with a lease expiration date of March 2022. Net Operating Income (NOI) is $76,412.04, which equates to a 7% capitalization rate based on 2019 financials.
Key Points: Effingham Hospital System as Lessee NNN leases 100% occupied +/- 5,050 SF (between 3 condo suites) NOI: $76,412.04 3% annual escalations