839 Durham RdWake Forest, NC 27587

Property Details for 839 Durham Rd

Property size (Sq ft)

8,759 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional investment opportunity presents the chance to acquire two medical office buildings totaling 8,759 square feet, currently 100% occupied by Outpatient Imaging Affiliates (OIA), a leading national operator of outpatient imaging centers. The properties, located at 839 Durham Rd, Wake Forest, NC 27587 and 398 Hughes Rd, Madison, AL 35758, are situated in high-traffic areas with excellent visibility. The Wake Forest location is adjacent to a high-performing Target store, while the Madison building is an outparcel to a Publix supermarket. Both locations benefit from significant daily vehicle traffic counts: 50,000 vehicles per day on Capital Blvd (Wake Forest) and 20,000 vehicles per day on Hughes Rd (Madison). The properties are held fee simple and feature absolute NNN leases with no landlord responsibilities. OIA recently renewed both leases, demonstrating strong tenant commitment. The leases include annual rent bumps of 2.0% through December 31, 2027, and 3.0% thereafter. The current net operating income (NOI) is $152,538, representing a 6.71% cap rate on the asking price of $2,274,000. The remaining lease term is 7.3 years. These properties are located in rapidly growing Southeastern states with restrictive certificate of need regulations for outpatient diagnostic centers, creating a significant barrier to entry for new competition. The substantial investment in medical equipment, including MRI machines, further enhances the mission-critical nature of these assets. This offering provides a rare opportunity to acquire a stable, high-performing investment in a growing healthcare sector.

Location Insight

City

Wake Forest

County

Wake

State

North Carolina

Latitude

35.9782

Longitude

-78.5363

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