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5880 Rivers Ave

6,800 SF 100% Leased Office Building North Charleston, SC 29406 £2,248,650 (£331/SF) 6% Net Initial Yield

Investment Highlights

  • 37,800 vehicles per day on Rivers Ave.
  • Close proximity to I-26.
  • 100% Leased Medical Office Investment Property.

Executive Summary

Fully Leased Medical and Office Building available for sale with great access and visibility from Rivers Ave (37,800 vehicles per day). The 2-story building is approximately 6,800 SF and sits on 1.02 AC. The back parking lot allows for ample parking (approximately 30 spaces) under magnificent live oaks. Year 1 Net Operating Income is $170,905.94. The first floor is approximately 4,200 SF of medical office that was renovated in 2022. First floor is owner occupied, inquire for lease terms. The first floor consists of an oversized waiting room, 10 exam rooms, 4 restrooms, 8 offices, nurses' stations, reception, check out, and storage room. There is access to the second floor from the first floor and a future elevator shaft (no elevator at present). See attached floor plan. The second floor is approximately 2,600 SF and is occupied by a law firm with a long-term lease in place. The second floor was recently renovated in 2023 and has its own exterior gated private entrance
which leads into the stairwell, with great natural light from the oversized window, up to the second floor. Upon reaching the top of the stairs, you enter a large lobby and break room. The rest of the layout consists of 5 private offices, a large conference room, 2 bathrooms, and 8 dormer closets that are built out to full ceiling height, contain their own windows, and have AC and lighting. Additionally, there are two unconditioned attic spaces (not included in SF). Most all of the offices have windows. The property is in close proximity to I-26. The premises is highly secure, with a gated second floor entry area, video surveillance around the exterior of the property, and a separate alarm system in place for first and second floor. Active Leases in place. Do NOT approach business or employees.

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
6,800 SF
Building Class
B
Year Built/Renovated
2007/2023
Price
£2,248,650
Price Per SF
£331
Net Initial Yield
6%
NOI
£134,845
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
3,400 SF
Slab to Slab
10 ft
Building FAR
0.15
Land Acres
1.02 AC
Zoning
B-2 - General Business District
Parking
30 Spaces (4.41 Spaces per 1,000 SF Leased)

Amenities

  • Bus Route
  • Signage

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
472-03-00-111
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£74,087
  • Listing ID: 33851454

  • Date on Market: 13/11/2024

  • Last Updated:

  • Address: 5880 Rivers Ave, North Charleston, SC 29406

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