For Sale
$3,950,000

216 Myers RdSummerville, SC 29486

9,000 SF Medical/Office, High NOI Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Summerville, SC investment opportunity presents a 9,000 square foot Class A office building situated on a 2.72-acre lot. Currently boasting 100% occupancy with two tenants, the property generates a substantial net operating income (NOI) of $240,000, representing a 6.08% cap rate based on the current single occupied tenant. The anchor tenant, Acuity Dental-Orthodontics, occupies 4,500 square feet under a five-year lease with a renewal option in 2026, including an escalator clause. The second 4,500 square foot suite offers immediate occupancy potential or the opportunity to secure a comparable tenant, potentially doubling the current NOI. The building, constructed in 1993 and extensively renovated in 2020, features 66 surface parking spaces. A significant advantage is the inclusion of approximately one acre of developable land, allowing for expansion and increased rental income. This strategically located property benefits from high traffic on a state road connecting 17-A and Highway 176, and proximity to the burgeoning Carnes Crossroads development and a new residential community adding approximately 420 homes. The property is zoned Berkeley - RNC - Rural and Neighborhood Commercial. Conceptual plans for an additional building are available, though these are purely conceptual and haven't undergone any approval processes. The asking price is $3,950,000, reflecting a price per square foot of $438.89. This is a value-add opportunity with significant upside potential for a savvy investor.

Highlights

  • 9,000 SF Class A office building on a 2.72-acre lot in Summerville, SC.
  • Currently 100% occupied, generating a $240,000 annual NOI.
  • Features a 4,500 SF anchor tenant (Acuity Dental-Orthodontics) with a 5-year lease and renewal option.
  • Includes approximately one acre of developable land.
  • 66 surface parking spaces and renovated in 2020.
  • Strategically located on a state road with high traffic, near Carnes Crossroads and a new 420-home residential community.

Property Details for 216 Myers Rd

Property type
Office properties, Medical offices
Square Feet
9,000 SF
Class
A
Year Built/Renovated
1993/2020
Buildings
1
Stories
1
Lot Size (sq. ft)
118,483 SF

Location Insight

City
Summerville
County
Berkeley
State
South Carolina
Latitude
33.0446166
Longitude
-80.084266
216 Myers Rd, Summerville, South Carolina

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216 Myers Rd
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