1721 Ebenezer Rd
Rock Hill, SC 29732

The subject offering affords investors the rare opportunity to acquire a 5,600-square-foot office condo property located in the Village Oaks Professional Park and tenanted by one of the largest surgical practices in the Charlotte MSA. Built in 1989 and extensively renovated in 2012, Village Oaks is a meticulously maintained business park tenanted by a diverse set of health care practices. Located less than one-quarter mile from Piedmont Medical Center, the property is ideally located in the heart of Rock Hill’s primary medical corridor. For more than 70 years, Surgical Specialists of Charlotte’s highly experienced team of surgeons has provided outstanding patient care in the Charlotte, Rock Hill and Fort Mill communities. Now, with more than 28 surgeons, Surgical Specialists of Charlotte provides a comprehensive array of general, vascular and specialty care at eight convenient locations throughout the greater Charlotte area. Surgical Specialists of Charlotte, P.A. acquired the Rock Hill practice in 2015 and most recently demonstrated additional commitment to this site by extending their lease through June of 2023. There are now currently over five years remaining on the existing lease with attractive three percent annual increases. Offered at an incoming 7.75 percent capitalization rate, the blended five-year capitalization rate over the remainder of the addition term is 8.23 percent. The lease is structured on a triple-net basis with minimal landlord responsibilities. Compared to average asking rents between $20.60 and $24.84 per square foot in the immediate markets/submarkets (Source: CoStar), the current in-place rent of just $18.01 per square foot is attractively set below market and offers an incoming investor upside potential at the end of the lease term.