Arrowwood Medical Center | 9720 S Tryon St
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Arrowwood Medical Center 9720 S Tryon St
10,272 SF 100% Leased Office Building Charlotte, NC 28273 £3,069,814 (£298.85/SF) 7.35% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Recent Capital Expenditure
- Large National DSO
- Dense & Affluent Surrounding Demographics
- Embedded Rent Growth
- High Traffic Corridors
EXECUTIVE SUMMARY
Current ownership has recently completed extensive capital improvements, including a state-of-the-art roof and parking lot restriping in 2022, stucco replacement, upgraded signage in 2023, and a new HVAC and furnace installation in October 2023. These enhancements ensure minimal near-term capital expenditure requirements for a prospective owner. Additionally, the property benefits from strong embedded rent growth, with Sam Kleitches Dentistry’s lease tied to CPI-based rent increases and ABS Kids featuring contractual 2.50% annual rent escalations.
The asset boasts long-term tenant commitment, with Dr. Sam Kleitches Dentistry operating on-site for over 34 years and recently renewing its lease through 2029. In 2021, Dr. Kleitches partnered with Guardian Dentistry Partners, a national dental support network. Positioned along South Tryon, a major corridor with 38,000 vehicles per day, the property enjoys excellent visibility and accessibility. The surrounding area is densely populated, with over 50,000 residents within a 3-mile radius and a rapidly growing population exceeding 150,000 within 5 miles. Additionally, the property is within 2.5 miles of major corporate hubs, including Microsoft, Spectrum, CPI Security, and Xerox, making it an ideal investment opportunity.
The asset boasts long-term tenant commitment, with Dr. Sam Kleitches Dentistry operating on-site for over 34 years and recently renewing its lease through 2029. In 2021, Dr. Kleitches partnered with Guardian Dentistry Partners, a national dental support network. Positioned along South Tryon, a major corridor with 38,000 vehicles per day, the property enjoys excellent visibility and accessibility. The surrounding area is densely populated, with over 50,000 residents within a 3-mile radius and a rapidly growing population exceeding 150,000 within 5 miles. Additionally, the property is within 2.5 miles of major corporate hubs, including Microsoft, Spectrum, CPI Security, and Xerox, making it an ideal investment opportunity.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
10,272 SF
Building Class
B
Year Built/Renovated
1987/2022
Price
£3,069,814
Price Per SF
£298.85
Net Initial Yield
7.35%
NOI
£225,715
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
10,272 SF
Building FAR
0.14
Lot Size
1.68 AC
Zoning
I1
PROPERTY TAXES
| Parcel Number | 201-181-38 | Improvements Assessment | £772,236 |
| Land Assessment | £792,135 | Total Assessment | £1,564,371 |
PROPERTY TAXES
Parcel Number
201-181-38
Land Assessment
£792,135
Improvements Assessment
£772,236
Total Assessment
£1,564,371
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Arrowwood Medical Center | 9720 S Tryon St
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