1223 Wheeler Pky - Medical FOR SALE


Augusta, GA 30909- Belair
$510,000 USD
706-305-0054
1223 Wheeler Pky, Augusta, GA for Sale
$510,000 USD
Medical - FOR SALE
1/8
null | 7.07% Cap Rate

1223 Wheeler Pky
Augusta, GA 30909
Belair


HIGHLIGHTS

  • 2010 Build to Suit: 15 Year Occupancy History
  • 2.2 Years Remaining: Lease Expires 7/31/2027
  • High Quality Building: 2009 Build | Stone Exterior
  • 2% Annual Increases: Contractual Rent Growth
  • Below Market Lease: Convert to NNN
  • None Remaining: Renewal Option

OVERVIEW

The Finem Group at Meybohm Commercial is pleased to present a fully leased medical office investment opportunity located at 1223 West Wheeler Parkway in Augusta, GA. This 2,700-square-foot medical office building is 100% leased to Labcorp, a national healthcare diagnostics provider with an investment-grade credit rating of BBB from S&P. The property was originally developed in 2010 as a build-to-suit for Labcorp, and the tenant has continuously occupied the building since completion, demonstrating strong long-term commitment to the site. The lease is structured as modified gross, with Labcorp responsible for utilities while the landlord covers other operating expenses. The current lease has just over two years remaining. Built with a durable mission-style stone exterior, the property is in excellent condition and is located directly adjacent to other medical office buildings in a strategic healthcare corridor. The short lease term and modified gross structure present a value-add opportunity to convert the lease to triple net (NNN) upon expiration and adjust rents to current market levels. Comparable medical office leases in the area are achieving triple net terms at similar rates. Located less than one mile from Doctors Hospital, I-20, and I-520, and one mile from the Augusta Exchange, this asset is well positioned within one of Augusta’s most established and active healthcare districts. 1223 West Wheeler Parkway is located in West Augusta, a dense and established medical and commercial corridor. The property sits less than one mile from Doctors Hospital of Augusta, a 350-bed acute care facility and key anchor of the West Augusta Medical District. Immediate access to I-20 and I-520 connects the location to downtown Augusta, Evans, Grovetown, and North Augusta, SC. The nearby Augusta Exchange shopping center is a regional retail hub that draws consistent traffic and provides added visibility and accessibility. The area is characterized by stable healthcare tenancy, high-demand commercial real estate, and ongoing development.

FOR SALE DETAILS

PRICE

$510,000 USD

PRICE/SF

$189 USD /SF

CAP RATE

7.07%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

B-2

APN/PARCEL ID

0301015000

ASK ABOUT THIS PROPERTY

John EckleyMeybohm Commercial PropertiesMore Info
706-305-0054

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John EckleyMeybohm Commercial PropertiesMore Info
706-305-0054

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.