Office Medical

Reidsville Medical Arts Center

1818 Richardson Dr, Reidsville, NC 27320

Listing Price: $3,650,000

Cap Rate
7.59%
Gross SF
15,487
Rentable SF
15,487
Price/Gross SF
$235.68
Year Built
1998
Lot Size
3.62 acres

Investment Overview

Marcus & Millichap is pleased to present Reidsville Medical Arts Center, a multi-tenant medical office (condo) property and a second single tenant medical office located in Reidsville NC (Greensboro MSA). The property is anchored by Belmont Medical Associates, practicing in Reidsville for over 50 years.

The property consists of a 20,212 square foot office building and a separate parcel with a 3,200 square foot single tenant medical building leased to Moses Cone Affiliated Physicians, known as Cone Health. The larger building has three condo units remaining making up 12,287 square feet or 61% of the space. The largest suite of 8,140 square feet and is leased to Belmont Medical Associates (Ste A). The remaining suites of 2,150 and 1,997 square feet are leased to LabCorp (Ste B) and Upstream Pharmaceutical Care (Ste C). The out parcel property with Cone Health is included in the sale.

Belmont Medical Associates focuses on not only on preventive care, but also on the diagnosis and treatment of acute injuries and illness for the entire family. From pediatrics to geriatrics, the practice has been caring for families for over 50 years. The practice has over 35,000 patients.

Moses Cone Physician Services, Inc., known a Cone Health Medical Group, has 30 practice medical offices located in 1 state 4 cities in the USA. There are 264 health care providers, specializing in Neurology, Nurse Practitioner, Internal Medicine, Infectious Disease, Cardiac Surgery, Thoracic Surgery, Physical Medicine And Rehabilitation, Family Medicine, Hospice/Palliative Care, Interventional Pain Management and more, being reported as members of the medical group. Medical taxonomies which are covered by Moses Cone Physician Services, Inc include Surgical, Neurological Surgery, Hospice and Palliative Medicine, Nurse Practitioner, Emergency Medicine, Registered Nurse, Psychologist, Anesthesiology, Rheumatology, Surgical Critical Care and many more.

Investment Highlights

  • Located in Greensboro MSA
  • New Roof as of July 2020 - Built 1998/2017
  • Belmont Medical Associates Has 35,000 Patient Base
  • Multi-Tenant Medical Properties - Three Condo Units & Separate Single Tenant Medical
  • Anchored by Belmont Medical Associates w 15 Years Remaining on Term
  • Out Parcel with Quality Tenant - Cone Health Medical Group Reidsville Pediatrics

Exclusively Listed By

Office Medical

Reidsville Medical Arts Center

Listing Price: $3,650,000

Cap Rate
7.59%
Gross SF
15,487
Rentable SF
15,487
Price/Gross SF
$235.68
Year Built
1998
Lot Size
3.62 acres

Investment Highlights

  • Located in Greensboro MSA
  • New Roof as of July 2020 - Built 1998/2017
  • Belmont Medical Associates Has 35,000 Patient Base
  • Multi-Tenant Medical Properties - Three Condo Units & Separate Single Tenant Medical
  • Anchored by Belmont Medical Associates w 15 Years Remaining on Term
  • Out Parcel with Quality Tenant - Cone Health Medical Group Reidsville Pediatrics

Investment Overview

Marcus & Millichap is pleased to present Reidsville Medical Arts Center, a multi-tenant medical office (condo) property and a second single tenant medical office located in Reidsville NC (Greensboro MSA). The property is anchored by Belmont Medical Associates, practicing in Reidsville for over 50 years.

The property consists of a 20,212 square foot office building and a separate parcel with a 3,200 square foot single tenant medical building leased to Moses Cone Affiliated Physicians, known as Cone Health. The larger building has three condo units remaining making up 12,287 square feet or 61% of the space. The largest suite of 8,140 square feet and is leased to Belmont Medical Associates (Ste A). The remaining suites of 2,150 and 1,997 square feet are leased to LabCorp (Ste B) and Upstream Pharmaceutical Care (Ste C). The out parcel property with Cone Health is included in the sale.

Belmont Medical Associates focuses on not only on preventive care, but also on the diagnosis and treatment of acute injuries and illness for the entire family. From pediatrics to geriatrics, the practice has been caring for families for over 50 years. The practice has over 35,000 patients.

Moses Cone Physician Services, Inc., known a Cone Health Medical Group, has 30 practice medical offices located in 1 state 4 cities in the USA. There are 264 health care providers, specializing in Neurology, Nurse Practitioner, Internal Medicine, Infectious Disease, Cardiac Surgery, Thoracic Surgery, Physical Medicine And Rehabilitation, Family Medicine, Hospice/Palliative Care, Interventional Pain Management and more, being reported as members of the medical group. Medical taxonomies which are covered by Moses Cone Physician Services, Inc include Surgical, Neurological Surgery, Hospice and Palliative Medicine, Nurse Practitioner, Emergency Medicine, Registered Nurse, Psychologist, Anesthesiology, Rheumatology, Surgical Critical Care and many more.

Exclusively Listed By

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