722 Hyatt StGaffney, SC 29341

Property Details for 722 Hyatt St

Year built

2001

Lot size

2.80 AC

Property size (Sq ft)

29,732 SF

Property type

Commercial real estate

APN

063-00-00-001.009

APU

630000001009

Description

This exceptional investment opportunity presents a 29,037 square foot medical office building located at 722 Hyatt St, Gaffney, SC 29341. The property is currently 100% occupied under a Net Lease (NN+) agreement with Spartanburg Healthcare System, a credit-rated tenant with an A2 rating from Moody's. The lease, recently renewed in March 2024, has a remaining term of 9.3 years with a 2.5% annual rent increase and one 5-year renewal option. The building, constructed in 2000 and renovated in 2011, serves as a primary care and cancer center, providing essential services to the community. Spartanburg Healthcare System operates a network of 166 medical sites, generating $5.7 billion in total patient revenue and $239.6 million in EBITDA. The asking price is $8,210,000, representing a 6.25% cap rate and a Net Operating Income (NOI) of $513,113. This fee-simple ownership offers a secure, long-term investment in a rapidly growing healthcare market within a high-growth state. The property benefits from the tenant's strong financial performance and the long-term lease structure, providing predictable and increasing cash flow. The building's location in Gaffney, South Carolina, places it within a thriving healthcare system and a rapidly expanding community.

Location Insight

City

Gaffney

County

Cherokee

State

South Carolina

Latitude

35.0762

Longitude

-81.6886

CBSA code

23500

CBSA name

GAFFNEY, SC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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