Summit Center - Suite 200

Office for Sale
Catylist Listing ID: 30346207
Property Subtypes: Medical, Office Building
Building Size (RSF): 13,832 SF
Sale Price: $1,450,000
Unit Price: $104.83 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: Summit Center
Class of Space: Class A
Usable Size (USF): 11,188 SF
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 1/23/2019

Overview / Comments

Opportunity to own a +/- 13,832 SF premier medical (or general) office condo in the heart of Wilmington’s medical community and in close proximity to historic downtown. The space available is located in the Summit Center, a Class—A three-story +/- 57,000 SF building built in 1999. Property is currently income producing with a credit tenant in place through October 2019, approximate NOI is $171,000. With options for future space subdivision or re-tenanting, this is an excellent investment opportunity.

The available space, Suite 200, features 5 physician offices, 12 exam rooms, and 12 private restrooms. The space also has a large lab and testing area, sizable waiting room, clerical room, extra workspaces, ample storage and a sizable conference room. Suite 200 was originally designed for an OBGYN practice and would be perfect for a large group medical practice or converted for a general office user.

The property has abundant surface parking and Suite 200 has 5 reserved underground parking spaces. This highly visible building is located minutes from New Hanover Regional Medical Center and within a mile radius from nearby restaurants, banks, shops and upscale neighborhoods.

Tenant in place through October 2019 with one 6 month renewal option.

Financials

Finance Data Year 2019
Net Operating Income $171,000 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name See Agent

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: R06019-002-008-000
Zoning: RB
Property Visibility: Excellent
Number of Stories: 3
Year Built: 1999

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,529 69,416 132,237
Median Age: 44 37.56 36.86
Households: 2,847 32,184 57,235
The information presented herein is provided as is, without warranty of any kind. Neither Cape Fear REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.