This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Novant Health Radiation Oncology

3 Office Properties Offered at £7,558,845 in Multiple Locations

Executive Summary

Investment Grade Credit: These three properties are 100% tenanted by Novant Health (Credit per Moody's: A1; Credit per Fitch: AA-). The properties are used as Radiation Oncology Facilities with a total of four linear accelerators and two MRI machines. 1988 S 16th Street has three linear accelerators and 545 Ocean Highway has one; both of these properties also have one MRI machine.
Long-term Leases: Novant will be executing 10-year NN leases on all of the properties starting on October 1st. Landlord responsibilities include: roof and structure, HVAC repair and maintenance, and parking lot. Each lease contains 3.00% annual rent escalations. Certificate of Need: 545 Ocean Highway and 1988 S 16th Street are both under a Certificate of Need (CON). The closest surrounding radiation oncology facilities are: Myrtle Beach, SC (77 Miles), Lumberton, NC (74 Miles), and Onslow, NC (50 Miles). Capital Expenditures: 1990 S 16th St was completely remodeled in 2019. 1988 and 1990 S 16th Street both underwent full roof replacements in 2019.
Well-Positioned Locations: The properties are all located in strong medical corridors in close proximity to medical centers. 1988 and 1990 are located approximately 0.1 miles from Novant Health New Hanover Regional Medical Center. 545 Ocean Highway is located 2.5 miles from Novant Health Brunswick Medical Center.
Capital Expenditures: 1990 S 16th St was completely remodeled in 2019. 1988 and 1990 S 16th Street both underwent full roof replacements in 2019.
Well-Positioned Locations: The properties are all located in strong medical corridors in close proximity to medical centers. 1988 and 1990 are located approximately 0.1 miles from Novant Health New Hanover Regional Medical Center. 545 Ocean Highway is located 2.5 miles from Novant Health Brunswick Medical Center.

Data Room Click Here to Access

Property Facts

Price £7,558,845
Price / SF £319.67 / SF
Net Initial Yield 6.50%
Sale Type Investment
Status In Exchange
Number of Properties 3
Individually For Sale 0
Total Building Size 23,646 SF
Total Land Area 5.67 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
1990 S 16th St, Wilmington, NC 28401 Office 4,486 SF 1986 -
545 Ocean Hwy W, Supply, NC 28462 Office 9,869 SF 2007 -
1988 S 16th St, Wilmington, NC 28401 Office 9,291 SF 1990 -
Show More > < Show Less
  • Listing ID: 33409714

  • Date on Market: 04/10/2024

  • Last Updated:

  • Address: Novant Health Radiation Oncology, Wilmington, NC

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}