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Novant Health | Little River, SC 2246 Us-17 Hwy N 4,358 SF Office Building Little River, SC 29566 $2,543,366 CAD ($583.61 CAD/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- ATTRACTIVE LEASE FUNDAMENTALS WITH BELOW MARKET RENT AND FAIR MARKET VALUE OPTIONS
- HIGH-VISIBILITY, EASILY ACCESSIBLE LOCATION
- CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS WITH BELOW MARKET RENT AND FAIR MARKET VALUE OPTIONS
- New 10 year Abs. NNN lease
- 5% in 2029 & FMV in Options
- Zero landlord responsibilities
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
- This Novant Health location is backed by the Novant Health credit (S&P: AA-)
- The tenant Novant Health Urgent care is a subsidiary of Novant Health with over $8.3 Billion in annual revenue
- The whole system has over 18 hospitals, 850 outpatient centers, and over 40,000 employees
LOCATED IN EXPANDING HEALTHCARE CORRIDOR
- Within a rapidly developing medical corridor along U.S. Hwy 17
- Surrounded by complimentary healthcare uses including McLeod Health, Tidelands Health and multiple dental, imaging and primary offices
- 54,822 jobs will be added to the Healthcare and Social Assistance sector over the next decade (17.6%)
HIGH-VISIBILITY, EASILY ACCESSIBLE LOCATION
- Prominent frontage and monument signage along U.S. 17 with multiple points of ingress/egress
- High daytime traffic from nearby retail, schools, and residential communities
- Less than 2 miles from the North Carolina state line and a direct feeder to Myrtle Beach tourist traffic
POSITIONED ON A MAJOR COSTAL CORRIDOR
- Located directly along U.S. Highway 17 (+32,200 VPD), the primary commercial artery through the Myrtle Beach metropolitan area
- Surrounded by more than 1.1 million SF within a 3-mile radius of including Walmart, Publix, Lowe’s Foods, Target, Home Depot, and numerous QSR and service retailers
MYRTLE BEACH MSA
- Over 50K people live in a 3-mile radius, which is expected to grow at an annual rate of 4.2% over the next 5 years (According to
- Myrtle Beach has been named fastest grown City in the US for 3rd straight year (U.S. News & World Report 2023)
- 42% increases from 2010
- New 10 year Abs. NNN lease
- 5% in 2029 & FMV in Options
- Zero landlord responsibilities
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT
- This Novant Health location is backed by the Novant Health credit (S&P: AA-)
- The tenant Novant Health Urgent care is a subsidiary of Novant Health with over $8.3 Billion in annual revenue
- The whole system has over 18 hospitals, 850 outpatient centers, and over 40,000 employees
LOCATED IN EXPANDING HEALTHCARE CORRIDOR
- Within a rapidly developing medical corridor along U.S. Hwy 17
- Surrounded by complimentary healthcare uses including McLeod Health, Tidelands Health and multiple dental, imaging and primary offices
- 54,822 jobs will be added to the Healthcare and Social Assistance sector over the next decade (17.6%)
HIGH-VISIBILITY, EASILY ACCESSIBLE LOCATION
- Prominent frontage and monument signage along U.S. 17 with multiple points of ingress/egress
- High daytime traffic from nearby retail, schools, and residential communities
- Less than 2 miles from the North Carolina state line and a direct feeder to Myrtle Beach tourist traffic
POSITIONED ON A MAJOR COSTAL CORRIDOR
- Located directly along U.S. Highway 17 (+32,200 VPD), the primary commercial artery through the Myrtle Beach metropolitan area
- Surrounded by more than 1.1 million SF within a 3-mile radius of including Walmart, Publix, Lowe’s Foods, Target, Home Depot, and numerous QSR and service retailers
MYRTLE BEACH MSA
- Over 50K people live in a 3-mile radius, which is expected to grow at an annual rate of 4.2% over the next 5 years (According to
- Myrtle Beach has been named fastest grown City in the US for 3rd straight year (U.S. News & World Report 2023)
- 42% increases from 2010
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
4,358 SF
Building Class
A
Year Built
2012
Price
$2,543,366 CAD
Price Per SF
$583.61 CAD
Cap Rate
5.50%
NOI
$139,919 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,358 SF
Building FAR
0.13
Lot Size
0.80 AC
Zoning
Commercial - Commercial
Parking
30 Spaces (6.88 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Novant Health
- Health Care and Social Assistance
- 4,358 SF
- -
- Oct 2034
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Novant Health | Health Care and Social Assistance | 4,358 SF | - | Oct 2034 |
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PROPERTY TAXES
| Parcel Number | 30714030075 | Improvements Assessment | $88,097 CAD |
| Land Assessment | $85,792 CAD | Total Assessment | $173,890 CAD |
PROPERTY TAXES
Parcel Number
30714030075
Land Assessment
$85,792 CAD
Improvements Assessment
$88,097 CAD
Total Assessment
$173,890 CAD
CONTACTS
-
David Hoppe -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Novant Health | Little River, SC | 2246 Us-17 Hwy N
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