208 Penny Ln - Medical FOR SALE


Morehead City, NC 28557
$1,300,000 USD
310-405-1219
208 Penny Ln, Morehead City, NC for Sale
$1,300,000 USD
Medical - FOR SALE
1/1
null | Request Cap Rate

208 Penny Ln
Morehead City, NC 28557


HIGHLIGHTS

  • Premier hospital-adjacent location — directly across the street from Carteret Health Care, a Mayo Clinic Care Network member
  • Designed for an owner-user — majority of 7,688 SF available for a single primary medical tenant with exam rooms already in place
  • Existing tenant income — smaller suites currently occupied on NNN leases, offsetting ownership costs from day one
  • Fully renovated and move-in ready — new HVAC, flooring, deck, and finishes throughout
  • Attractive pricing — offered at $169.11/SF, well below replacement cost for a renovated medical office building
  • Robust parking — 40 surface spaces, ideal for patient-facing medical practices Low flood risk — FEMA Zone B/X, moderate-to-low risk designation

OVERVIEW

AiCRE Partners is pleased to exclusively offer for sale 208 Penny Lane; a fully renovated, 7,688 square foot two-story medical office building strategically positioned directly across the street from Carteret Health Care — the region’s premier 135-bed, Mayo Clinic Care Network-affiliated hospital and one of Carteret County’s largest employers. This is an exceptional opportunity for a medical owner-user seeking a premier, move-in-ready facility in one of coastal North Carolina’s most sought-after healthcare corridors, with the added benefit of existing tenant income helping to offset occupancy costs from day one. The Asset Built in 1977 and extensively renovated, features new LVP flooring throughout, a new HVAC system, a new exterior deck, wet sprinklers, and a fresh interior and exterior finish. The two-story wood-frame structure offers approximately 3,844 square feet per floor on a 0.43-acre lot, with dual front and rear building entrances providing convenient patient and staff access. With 40 surface parking spaces and a generous ratio of 5.21 per 1,000 SF, the property comfortably accommodates high patient-volume medical uses. The building is already configured for medical occupancy with multiple exam rooms in place, minimizing the time and capital required for an owner-user to open their doors. Ideal Owner-User Opportunity 208 Penny Lane is purpose- built for a medical practice looking to own rather than lease. A physician group, specialty practice, outpatient clinic, or wellness provider can occupy the majority of the building’s 7,688 square feet as their primary practice location while benefiting from a supporting cast of smaller tenants — currently including Crystal Coast Fundamental Medical and Weight Loss and Nuro Feedback — occupying compact suites. These smaller tenants generate meaningful ancillary income on a NNN basis, effectively reducing the owner-user’s net.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$181 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

MA

APN/PARCEL ID

6376.14.43.0310000

ASK ABOUT THIS PROPERTY

Roman HessAiCRE PartnersMore Info
310-405-1219

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

Roman HessAiCRE PartnersMore Info
310-405-1219

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