4 B Cleveland CtGreenville, SC 29607

Property Details for 4 B Cleveland Ct

Property size (Sq ft)

1,568 SF

Property type

Office properties

Property subtype

Medical offices

Description

This 1,568 square foot medical office building in Greenville, South Carolina, is currently leased to Straine Dental Management, a large and growing dental service organization with over 30 locations nationwide. The property boasts a strong 7.75% cap rate and a net operating income (NOI) of $30,551, based on an asking price of $394,206. The lease has over eight years remaining, featuring a favorable 2.0% annual rent increase, providing a built-in hedge against inflation. A unique aspect of this lease is the inclusion of a capital expenditure reimbursement structure, mitigating the landlord's financial risk associated with major building repairs. Located in a thriving medical office park with numerous complementary medical specialties, this property benefits from a high-income demographic area, with an average household income exceeding $149,000 within a one-mile radius and a population of 158,000 within a five-mile radius projected to grow. The high cost of relocation for dental practices, due to significant build-out expenses, ensures tenant stability and long-term value. This presents a compelling investment opportunity in a robust market, offering a relatively low-risk, high-return investment with significant upside potential.

Location Insight

City

Greenville

County

Greenville

State

South Carolina

Latitude

34.8236

Longitude

-82.3767

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