Net Leased Medical Office Income Producing Investment

Listing was updated at: 11/22/2019
Property Overview
Price/Rent PSF $ 999,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 5,050
Date Available 11/22/2019
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Floors 1
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Rincon is located just outside of Savannah in Effingham County and is approximately 5 miles from I-95 at Exit 109 with a strong spending population of 50,000+ residents and an average household income in excess of $72,000. Rincon's tremendous population growth of 57.6% in the last decade, and the county's impressive growth of 30%, has caught the attention of many national retailers has such as Lowe's, Kroger, Wal-Mart, Planet Fitness, Tractor Supply, Walgreen's and Chick-Fil-A. GA Highway 21 is the main thoroughfare in and out of the county. The traffic count is approximately 35,000 vehicles per day.

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 $78,088.44, which equates to a 7.82% capitalization rate based on 2020 financials.