Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the single-tenant, hospital leased medical office & additional parking lot located at 1307 & 1316 Avon Street in Fayetteville, NC. The asset is 100% leased to Cumberland County Hospital System, Inc. (dba Cape Fear Valley Health System) and is situated adjacent to the health system’s flagship hospital. In 2017, the tenant invested more than $500,000 into the subject property’s deferred maintenance, including renovations to the roofing, HVAC units, electrical/lighting systems, and more. The property is ideally located in an attractive MOB submarket that features 98% medical office occupancy within a 1-mile radius of the property. The strategically located asset is fully leased to a rapidly expanding health system and is offered well below replacement cost. The adjacent hospital, Cape Fear Valley Medical Center, is currently undergoing a $110 million expansion project to build two new patient care floors that will add 100 more beds. Set to be completed in 2025, the project will create the equivalent of more than 185 full-time jobs and increase the facility’s capacity to over 700 beds. Additionally, Cape Fear Valley Health System and Methodist University revealed plans to create Fayetteville’s first medical school. The state-of-the-art medical school will be located on the Cape Valley Medical Center campus and is expected to open in 2026.