For Sale
$3,300,000

2828 North AveAnderson, SC 29625

Profitable Medical Office Building, Fee Simple

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 5,900 square foot, single-tenant medical office building located at 2828 E North Ave, Anderson, SC 29625. The property, a Class C building constructed in 2005 and expanded in 2019, boasts 100% occupancy with a strong, stabilized tenant: Magnolia Veterinary Hospital. This general wellness and emergency care practice, comprised of 11 veterinarians, enjoys above-average revenue and benefits from extended hours. The 2019 expansion added 2,000 square feet, significantly enhancing the building, HVAC system, and parking lot. The property is offered fee simple with a Net Net (NN) lease featuring a corporate guarantee from Encore Vet Group, a national pet healthcare group with over 60 locations. The lease includes scheduled annual rent increases of 4.0%, providing predictable income growth. The asking price is $3,300,000, translating to $559.32 per square foot. This is a rare opportunity to acquire a high-performing medical office building with a secure, long-term lease and significant upside potential. The property's location in Anderson County, South Carolina, offers convenient access to a thriving community. The building's recent improvements and strong tenant occupancy make this an attractive investment for discerning buyers seeking stable, high-return properties in the healthcare sector.

Highlights

  • 5,900 SF single-tenant medical office building in Anderson, SC, fully occupied by Magnolia Veterinary Hospital.
  • Magnolia Veterinary Hospital, an 11-veterinarian practice, generates above-average revenue and offers extended hours.
  • 2019 expansion added 2,000 SF, upgrading the building, HVAC, and parking lot.
  • Net-Net (NN) lease with a corporate guarantee from Encore Vet Group, a national operator with over 60 locations, includes 4% annual rent increases.
  • Offered at $3,300,000 ($559.32/SF).

Property Details for 2828 North Ave

Property type
Office properties, Medical offices
Square Feet
5,900 SF
Class
C
Stories
1

Location Insight

City
Anderson
County
Anderson
State
South Carolina
Latitude
34.583875
Longitude
-82.7994194
2828 North Ave, Anderson, South Carolina

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2828 North Ave
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