This 1031 eligible medical office building located in Charlotte, North Carolina is approximately 44,169 square feet on five plus acres. The building currently has long-term leases with Carolina HealthCare Systems and Christenbury Eye Center. Both tenants have long-term history within the building and have recently extended through 1/31/2023 and 9/30/2020, respectivley.
The building has class “A” interior finishes with extensive build-out for eight operating rooms. The two story building has an entrance on each floor. The project provides for stable current cash flow with upside potential in both cash flow and capital appreciation through lease-up of the remaining first floor space. It is anticipated that the building which is currently 69 percent occupied will become fully leased be either of the existing tenants in the near term.
Available for investment is approximately $1,000,000 in cash equity. The current cash-on-cash return is 7.50 percent. There is an upside through the lease up of the remaining approximate 13,600 square feet on the first floor.
The property is to be on-site managed. AIE Healthcare currently manages over 200,000 square feet of medical office space in Charlotte, North Carolina.
Contact Larry Lanzrath at 877.575.9962 or larry@aie1031.com.
