Single-Tenant Office Medical

Concentra | 2% Annual Increases | 10-Year Lease Extension

7519 Rivers Ave, North Charleston, SC 29406

Listing Price: $3,498,256

Cap Rate
5.85%
Tenant Name
Concentra
Years Remaining On Lease
11.0
Gross SF
8,527
Guarantor
Corporate Guarantee
Rentable SF
8,527
Price/Gross SF
$410.26
Lease Type
Double Net
Rent Per Square Feet
$24.00

Investment Overview

The subject investment property is situated on Rivers Avenue at its intersection with Ashley Phosphate Road. On a daily average, Rivers Avenue services over 36,000 vehicles, while Ashley Phosphate Road boasts traffic counts of 62,000 vehicles per day. Just West of the property lies I-26, which is the main North-South connector of suburban areas to Downtown Charleston and the northern Columbia, Spartanburg, and Asheville, NC. Because of this, I-26 brings an additional 170,000 vehicles to the immediate trade area. The market has terrific demographics with more than 65,000+ people within a three-mile radius of the property and more than 148,000+ individuals within a five-mile radius. These radii are expected to increase by 9.3% and 8.5%, respectively, through 2022.
The offering benefits from being well-positioned in a highly dense retail corridor consisting of national and local retailers and services all within close proximity to the property, including those within the 833,000 square-foot Northwoods Mall .5 miles north. Major national tenants include: Walmart, The Home Depot, Lowes Home Improvement, Guitar Center, Best Buy, JCPenney, Belk, Target, and numerous others. This Concentra property also benefits from being situated 6 miles from Charleston International Airport which serves nearly 4.5 million passengers annually. The airport is also home to the Boeing facility that assembles the 787 Dreamliner, making Boeing the largest employer in Charleston. Due to the subject propertys proximity to aviation, it directly benefits from the substantial concentration of lodging, with more than 22 hotels & motels in this trade area. Additionally, located 4 miles from the subject property is Trident Medical Center, a 313-bed major hospital, and also the second largest employer in North Charleston.

Investment Highlights

  • New 10-Year Lease Extension | 11 Years of Term Remain
  • Fee-Simple Ownership
  • Corporate Guaranty | Concentra Health Services, Inc

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Anthony D'Ambrosia

    Licensed Real Estate Salesperson

    (212) 430-5237

    Email Anthony

    License(s): NY: 10401263344

    Manhattan

  • Cade N. Kearn

    Licensed Real Estate Salesperson

    Email Cade

    License(s): NY: 10401307341

    Manhattan

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

Single-Tenant Office Medical

Concentra | 2% Annual Increases | 10-Year Lease Extension

Listing Price: $3,498,256

Cap Rate
5.85%
Tenant Name
Concentra
Years Remaining On Lease
11.0
Gross SF
8,527
Guarantor
Corporate Guarantee
Rentable SF
8,527
Price/Gross SF
$410.26
Lease Type
Double Net
Rent Per Square Feet
$24.00

Investment Highlights

  • New 10-Year Lease Extension | 11 Years of Term Remain
  • Fee-Simple Ownership
  • Corporate Guaranty | Concentra Health Services, Inc

Investment Overview

The subject investment property is situated on Rivers Avenue at its intersection with Ashley Phosphate Road. On a daily average, Rivers Avenue services over 36,000 vehicles, while Ashley Phosphate Road boasts traffic counts of 62,000 vehicles per day. Just West of the property lies I-26, which is the main North-South connector of suburban areas to Downtown Charleston and the northern Columbia, Spartanburg, and Asheville, NC. Because of this, I-26 brings an additional 170,000 vehicles to the immediate trade area. The market has terrific demographics with more than 65,000+ people within a three-mile radius of the property and more than 148,000+ individuals within a five-mile radius. These radii are expected to increase by 9.3% and 8.5%, respectively, through 2022.
The offering benefits from being well-positioned in a highly dense retail corridor consisting of national and local retailers and services all within close proximity to the property, including those within the 833,000 square-foot Northwoods Mall .5 miles north. Major national tenants include: Walmart, The Home Depot, Lowes Home Improvement, Guitar Center, Best Buy, JCPenney, Belk, Target, and numerous others. This Concentra property also benefits from being situated 6 miles from Charleston International Airport which serves nearly 4.5 million passengers annually. The airport is also home to the Boeing facility that assembles the 787 Dreamliner, making Boeing the largest employer in Charleston. Due to the subject propertys proximity to aviation, it directly benefits from the substantial concentration of lodging, with more than 22 hotels & motels in this trade area. Additionally, located 4 miles from the subject property is Trident Medical Center, a 313-bed major hospital, and also the second largest employer in North Charleston.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Anthony D'Ambrosia

    Licensed Real Estate Salesperson

    (212) 430-5237

    Email Anthony

    License(s): NY: 10401263344

    Manhattan

  • Cade N. Kearn

    Licensed Real Estate Salesperson

    Email Cade

    License(s): NY: 10401307341

    Manhattan

Broker of Record

  • Benjamin Yelm

    Regional Manager

    License(s): SC: 86628

    South Carolina

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