885 Summit Crossing Pl - Office FOR SALE


Gastonia, NC 28054
$8,150,000 USD
704-442-0222
885 Summit Crossing Pl, Gastonia, NC for Sale
$8,150,000 USD
Office - FOR SALE
1/25
null | 6% Cap Rate

885 Summit Crossing Pl
Gastonia, NC 28054


HIGHLIGHTS

  • 100% leased to Novant Medical Group, Inc.
  • 71 surface parking spaces
  • Medical outpatient building use
  • Less than half a mile to CaroMont Regional Medical Center
  • Located 0.8 miles west of I-85
  • 19 minute drive to the Charlotte International Airport

OVERVIEW

Flagship Healthcare Properties, LLC is pleased to present the exclusive sale of a 100% occupied, single tenant medical office building investment leased to Novant Medical Group, Inc. in Gastonia, North Carolina. Constructed as a Build-to-Suit in 2023, the property is leased to Novant for 10 years with two (2) three (3) year renewal options. Novant Medical Group, Inc. is a subsidiary of Novant Health, Inc. with a long-term credit rating of A+. This state-of-the-art, healthcare facility is offered for sale at $8,150,000, reflecting a 6.0% cap rate on projected Net Operating Income (NOI) for calendar year 2027. The current lease expiration date of August 31, 2033 reflects a Weighted Average Lease Term (WALT) of 7 years. The lease is structured as triple net (NNN) with minimal Landlord responsibilities. The 11,588 GSF outpatient clinic is located on 2.75 acres in close proximity to CaroMont Regional Medical Center and numerous specialty medical practices. The property serves the greater Gastonia area, which is the largest city in Gaston County and one of the core counties in the Charlotte MSA.

FOR SALE DETAILS

PRICE

$8,150,000 USD

PRICE/SF

$703 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Novant Health Medical Office

PROPERTY TYPE

Office

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

71

LAND DETAILS

LAND ACRES

2.75 AC

LAND SF

119,790 SF

ZONING

-

APN/PARCEL ID

308199

ASK ABOUT THIS PROPERTY

Tiffany SlaydenFlagship Healthcare PropertiesMore Info
704-442-0222

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Tiffany SlaydenFlagship Healthcare PropertiesMore Info
704-442-0222

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