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Shopping Regional

FastMed Urgent Care | AT&T

825 Blowing Rock Blvd, Lenoir, NC 28645

Listing Price: $2,108,058

Cap Rate
6.25%
Gross SF
4,800
Rentable SF
4,800
Price/Gross SF
$439.18
Lot Size
0.67 acres
Year Built
2009

Investment Overview

LEASE AND TENANT HIGHLIGHTS
- Fully occupied 4,800 sf two-tenant center with AT&T and FastMed Urgent Care
- Both tenants occupy 2,400 sf and have been in occupancy since 2015
- AT&T (Spring Communications Holding, Inc.) exercised their first of two options in May 2019
- AT&Ts second option is in May 2022 and contains annual increases of 4.0%
- Spring Communications has over 1,400 locations in the U.S. with over 3,000 employees
- FastMed Urgent Care has over 9 years remaining and has annual increases of 3.0%
- FastMed currently has 105 locations in NC (57), AZ (29), and TX (19) - FastMed is one of the fastest growing urgent care providers in the U.S. and the only one to rank in Inc. magazines Inc. 5000 list of fastest growing companies
- FastMed received The Gold Seal of Approval in ambulatory care - an accreditation that shows a commitment to ensuring a safe and effective environment for the patients they serve
- Both tenants reimburse for CAM, Taxes, and Insurance along with an Admin Fee - 15% for AT&T and 10% for FastMed

LOCATION HIGHLIGHTS
- Located in the main retail corridor of Lenoir on Blowing Rock Boulevard (ADT of over 27,000 cars/day)
- Out-parcel to a BigLots!/Dunhams Sports/CATO anchored shopping center - other tenants include Shoe Show, Subway, Rue21, Maurices and CVS (outparcel)
- Adjacent to Walmart Supercenter
- Other tenants in the immediate area include: Tractor Supply, Belk, Bargain Hunt, Walgreens, Advance Auto, Dollar Tree, Petsense, Gamestop, Murphy USA, Zaxbys, Krispy Kreme, Arbys, Cookout, and KFC
- Located near Exela Pharma Sciences corporate headquarters - a fast growing specialty pharmaceutical company that focuses on developing, manufacturing, and marketing generic and proprietary sterile injectable products
- Part of the Hickory, NC MSA - the metro has a diversifying employment base including the growing fiber-optic cable industry - the region produces nearly half of the worlds fiber-optic cables

Investment Highlights

  • Out-parcel to a BigLots!/Dunhams Sports/CATO anchored shopping center
  • Fully occupied 4,800 sf two-tenant center with AT&T and FastMed Urgent Care
  • Both tenants occupy 2,400 sf and have been in occupancy since 2015
  • Located in the main retail corridor of Lenoir on Blowing Rock Boulevard

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Shopping Regional

FastMed Urgent Care | AT&T

Listing Price: $2,108,058

Cap Rate
6.25%
Gross SF
4,800
Rentable SF
4,800
Price/Gross SF
$439.18
Lot Size
0.67 acres
Year Built
2009

Investment Highlights

  • Out-parcel to a BigLots!/Dunhams Sports/CATO anchored shopping center
  • Fully occupied 4,800 sf two-tenant center with AT&T and FastMed Urgent Care
  • Both tenants occupy 2,400 sf and have been in occupancy since 2015
  • Located in the main retail corridor of Lenoir on Blowing Rock Boulevard

Investment Overview

LEASE AND TENANT HIGHLIGHTS
- Fully occupied 4,800 sf two-tenant center with AT&T and FastMed Urgent Care
- Both tenants occupy 2,400 sf and have been in occupancy since 2015
- AT&T (Spring Communications Holding, Inc.) exercised their first of two options in May 2019
- AT&Ts second option is in May 2022 and contains annual increases of 4.0%
- Spring Communications has over 1,400 locations in the U.S. with over 3,000 employees
- FastMed Urgent Care has over 9 years remaining and has annual increases of 3.0%
- FastMed currently has 105 locations in NC (57), AZ (29), and TX (19) - FastMed is one of the fastest growing urgent care providers in the U.S. and the only one to rank in Inc. magazines Inc. 5000 list of fastest growing companies
- FastMed received The Gold Seal of Approval in ambulatory care - an accreditation that shows a commitment to ensuring a safe and effective environment for the patients they serve
- Both tenants reimburse for CAM, Taxes, and Insurance along with an Admin Fee - 15% for AT&T and 10% for FastMed

LOCATION HIGHLIGHTS
- Located in the main retail corridor of Lenoir on Blowing Rock Boulevard (ADT of over 27,000 cars/day)
- Out-parcel to a BigLots!/Dunhams Sports/CATO anchored shopping center - other tenants include Shoe Show, Subway, Rue21, Maurices and CVS (outparcel)
- Adjacent to Walmart Supercenter
- Other tenants in the immediate area include: Tractor Supply, Belk, Bargain Hunt, Walgreens, Advance Auto, Dollar Tree, Petsense, Gamestop, Murphy USA, Zaxbys, Krispy Kreme, Arbys, Cookout, and KFC
- Located near Exela Pharma Sciences corporate headquarters - a fast growing specialty pharmaceutical company that focuses on developing, manufacturing, and marketing generic and proprietary sterile injectable products
- Part of the Hickory, NC MSA - the metro has a diversifying employment base including the growing fiber-optic cable industry - the region produces nearly half of the worlds fiber-optic cables

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

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