Investment Overview

Marcus & Millichap is pleased to present the value-add medical office investment opportunity located at 8532 Old State Road in Holly Hill, South Carolina. The offering features a vacant medical office building with an existing lease obligation in place, as the tenant remains responsible for the lease through April 2028. This unique structure provides investors with contractual income security during the remaining lease term while creating the opportunity to plan for future repositioning, re-tenanting, or owner-user occupancy. Investor appeal is further enhanced by highly favorable market fundamentals. The surrounding medical office submarket currently reports a zero percent medical office vacancy rate, highlighting significant unmet demand for quality healthcare space. Additionally, medical office development has declined 45 percent year over year, limiting future competitive supply and reinforcing the property's long-term leasing potential. The offering includes excess land adjacent to the property, creating opportunities for future expansion, additional parking, or other value-enhancing improvements. Existing rents are below market, providing investors with meaningful upside through future lease-up or rental rate adjustments. Furthermore, the property is offered well below replacement cost, representing an attractive basis compared to the cost of developing a comparable medical office property. Combining contractual lease obligations through April 2028, a supply-constrained medical office market, and multiple value-add opportunities, this investment is well positioned to generate long-term appreciation and stable returns for investors.