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- LoopNet Team
41 Oakland Rd
Asheville, NC 28801
Oakland Professional Building · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Medical Office Investment Sale | 7.23% CAP Rate with Under Market Rent
- 4 Years Left on Term with Annual Rental Increases | 1 Option to Extend (5 YR)
- National Credit Tenant: Mission Family Medicine/HCA
- Tenant has been in this building for over 20 years
EXECUTIVE SUMMARY
Rare medical office investment opportunity in the medical district of Asheville, NC. National credit tenant Mission Family Medicine (HCA) with 4 years of term left on the lease. Currently at a 7.23% CAP Rate with 2.5% annual rental increases. Tenant has one remaining 5-year option to extend. This condo has a modern medical layout that includes 19 exam rooms, additional private offices, and a large waiting room. Asset benefits from being located in a dense medical corridor with little vacancy for additional medical providers this close to the hospital. 1.5 miles from I-40 (51,000 VPD). 1.5 miles to downtown Asheville.
PROPERTY FACTS
| Property Type | Office | Rentable Building Area | 22,000 SF |
| Property Subtype | No. Stories | 3 | |
| Building Class | B | Year Built | 1993 |
| Lot Size | 1.45 AC | Parking Ratio | 4.36/1,000 SF |
| Zoning | INST - Institutional Zoning | ||
| Property Type | Office |
| Property Subtype | |
| Building Class | B |
| Lot Size | 1.45 AC |
| Rentable Building Area | 22,000 SF |
| No. Stories | 3 |
| Year Built | 1993 |
| Parking Ratio | 4.36/1,000 SF |
| Zoning | INST - Institutional Zoning |
