For Sale
$1,523,000

1023 Creekside Medical DrYork, SC 29745

High-cap rate, single-tenant medical office.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 7,088 square foot medical office building located at 1023 Creekside Medical Dr, York, SC 29745. The property, built in 1988 and renovated in 1995, sits on a 0.95-acre lot and boasts a strong 8.37% cap rate with a Net Operating Income (NOI) of $127,433. Currently 100% occupied by a single tenant under a Net Lease (NN+) agreement with a remaining lease term of approximately 1.6 years, expiring June 29, 2026. The lease commenced June 30, 2019, and includes CPI rent bumps. The asking price is $1,523,000, translating to a price per square foot of $214.87. This freestanding family medicine practice is strategically located in a retail and residential corridor, benefiting from a surging population growth and significant residential development nearby, including the McFarland Estates development. The tenant has occupied the space since 1988, demonstrating a stable patient base and long-term commitment. This property offers a compelling investment opportunity in a high-growth area with a strong tenant and favorable lease terms. The property is a single-tenant net lease medical office investment owned by a major hospital system.

Highlights

  • Single-tenant, net-lease medical office building; investment-grade property owned by Tenet Healthcare (THC), a $13B market cap company.
  • Tenet Healthcare-owned Piedmont Medical Center, a regionally recognized hospital system, awarded "Circle of Excellence" in 2015.
  • Strategically located freestanding family medicine practice in York, SC, within a retail and residential corridor; the only one of its kind.
  • Strong historical occupancy since 1988 with a stable patient base; growing demand driven by new residents.
  • Significant residential development fueling population growth; adjacent to McFarland Estates (159 single-family homes).

Property Details for 1023 Creekside Medical Dr

Property type
Office properties, Medical offices
Square Feet
7,088 SF
Year Built/Renovated
1988/1995
Lot Size (sq. ft)
41,382 SF

Location Insight

City
York
County
York
State
South Carolina
Latitude
34.9847182
Longitude
-81.2195736
1023 Creekside Medical Dr, York, South Carolina

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1023 Creekside Medical Dr
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