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Novant Health Medical Office 885 Summit Crossing Pl 11,588 SF Office Building Gastonia, NC 28054 $11,230,700 CAD ($969.17 CAD/SF) 6% Cap Rate
Investment Highlights
- 100% leased to Novant Medical Group, Inc.
- Medical outpatient building use
- Located 0.8 miles west of I-85
- 71 surface parking spaces
- Less than half a mile to CaroMont Regional Medical Center
- 19 minute drive to the Charlotte International Airport
Executive Summary
Flagship Healthcare Properties, LLC is pleased to present the exclusive sale of a 100% occupied, single tenant medical office building investment leased to Novant Medical Group, Inc. in Gastonia, North Carolina. Constructed as a Build-to-Suit in 2023, the property is leased to Novant for 10 years with two (2) three (3) year renewal options. Novant Medical Group, Inc. is a subsidiary of Novant Health, Inc. with a long-term credit rating of A+.
This state-of-the-art, healthcare facility is offered for sale at $8,150,000, reflecting a 6.0% cap rate on projected Net Operating Income (NOI) for calendar year 2027. The current lease expiration date of August 31, 2033 reflects a Weighted Average Lease Term (WALT) of 7 years. The lease is structured as triple net (NNN) with minimal Landlord responsibilities.
The 11,588 GSF outpatient clinic is located on 2.75 acres in close proximity to CaroMont Regional Medical Center and numerous specialty medical practices. The property serves the greater Gastonia area, which is the largest city in Gaston County and one of the core counties in the Charlotte MSA.
This state-of-the-art, healthcare facility is offered for sale at $8,150,000, reflecting a 6.0% cap rate on projected Net Operating Income (NOI) for calendar year 2027. The current lease expiration date of August 31, 2033 reflects a Weighted Average Lease Term (WALT) of 7 years. The lease is structured as triple net (NNN) with minimal Landlord responsibilities.
The 11,588 GSF outpatient clinic is located on 2.75 acres in close proximity to CaroMont Regional Medical Center and numerous specialty medical practices. The property serves the greater Gastonia area, which is the largest city in Gaston County and one of the core counties in the Charlotte MSA.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Building Size
11,588 SF
Building Class
A
Year Built
2023
Price
$11,230,700 CAD
Price Per SF
$969.17 CAD
Cap Rate
6%
NOI
$674,173 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
11,588 SF
Building FAR
0.10
Lot Size
2.75 AC
Parking
71 Spaces (6.13 Spaces per 1,000 SF Leased)
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 117887 | Improvements Assessment | $5,452,470 CAD |
| Land Assessment | $630,022 CAD | Total Assessment | $6,082,492 CAD |
Property Taxes
Parcel Number
117887
Land Assessment
$630,022 CAD
Improvements Assessment
$5,452,470 CAD
Total Assessment
$6,082,492 CAD
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Novant Health Medical Office | 885 Summit Crossing Pl
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