Office•Medical•For Sale

Medical Office Income Producing Investment

613 Towne Park West - Suites 204, 303 304, Rincon, Georgia 31326

Sale Price $1,091,600
Sale Type Net Lease Investment
Zoning GC
Class B
Year Built 2007
Stories 1
Cap Rate 7.00%
Gross Bldg 5,050 SqFt
RBA 5,050 SqFt
Net Op Inc $76,412
Market Savannah
Sub-Market Rincon
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. SVN is pleased to offer +/- 1,650 square feet of medical office space for lease at Towne Park West. This multi-tenant brick building was constructed in 2007 and has been very well maintained. The interior office configuration includes a reception/waiting area, 3 exam rooms/offices, large conference room, a break area and 1 restroom. The space is in move-in condition. Shown by appointment only. 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.
  • Effingham Hospital System as Lessee
  • NNN leases
  • 100% occupied
  • +/- 5,050 SF (between 3 condo suites)
  • NOI: $76,412.04
  • 3% annual escalations
  • +/- 1,650 SF of Medical Office
  • Towne Park West
  • 3 exam rooms / offices; Lobby; Conf. Room
  • Built in 2007
  • Accessed via Towne Park Drive West; near Highway 21
4/15/2019 2:00:10 PM 4/17/2019 7:52:05 PM

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