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Single-Tenant Office Medical

Cape Fear Valley Health System | Single-Tenant On-Campus MOB

1307 Avon St, Fayetteville, NC 28304

Listing Price: $5,500,000

Cap Rate
6.56%
Tenant Name
Cape Fear Valley Health System
Years Remaining On Lease
3.4
Gross SF
22,199
Guarantor
Corporate Guarantee
Rentable SF
22,199
Price/Gross SF
$247.76
Lease Type
Double Net
Rent Per Square Feet
$16.38

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.

Investment Highlights

  • 100% Leased to Cumberland County Health System, Inc. | dba Cape Fear Valley Health System
  • Strong, In-Place Tenant on a NN Lease | Additional 0.28 Acre Lot Included in Sale | Approx. 4.5 Years Remaining on Recently Signed Renewal Term | One, 15-Year Option Remaining
  • Adjacent to Cape Fear Valley Medical Center (602 Beds) | Undergoing $110M Expansion to Add 100 More Beds
  • Methodist University's New Medical School Scheduled to Open On the Cape Fear Valley Campus in 2026 | Located Less than 60 Mi from Raleigh, NC | Fayetteville is Home to the Largest U.S. Military Base
  • Strong Surrounding Market | 98% MOB Occupancy within a 1 Mile Radius of the Subject Property

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Single-Tenant Office Medical

Cape Fear Valley Health System | Single-Tenant On-Campus MOB

Listing Price: $5,500,000

Cap Rate
6.56%
Tenant Name
Cape Fear Valley Health System
Years Remaining On Lease
3.4
Gross SF
22,199
Guarantor
Corporate Guarantee
Rentable SF
22,199
Price/Gross SF
$247.76
Lease Type
Double Net
Rent Per Square Feet
$16.38

Investment Highlights

  • 100% Leased to Cumberland County Health System, Inc. | dba Cape Fear Valley Health System
  • Strong, In-Place Tenant on a NN Lease | Additional 0.28 Acre Lot Included in Sale | Approx. 4.5 Years Remaining on Recently Signed Renewal Term | One, 15-Year Option Remaining
  • Adjacent to Cape Fear Valley Medical Center (602 Beds) | Undergoing $110M Expansion to Add 100 More Beds
  • Methodist University's New Medical School Scheduled to Open On the Cape Fear Valley Campus in 2026 | Located Less than 60 Mi from Raleigh, NC | Fayetteville is Home to the Largest U.S. Military Base
  • Strong Surrounding Market | 98% MOB Occupancy within a 1 Mile Radius of the Subject Property

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.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

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