Medical Office Building with Excess
8532 Old State Rd, Holly Hill, SC 29059
For Sale
$1,400,000
Medical office property with adjacent excess land for future expansion, parking, or owner-user planning.
Property Size6,280 SF
Price / SF$222.93
Days on Market94
Property Features for 8532 Old State Rd
General Information
Standard status
Size
Property subtype
Lease Type
Additional Details
Cap Rate
Amenities
Contractual Lease Obligations Provide Income Security Through April 2028
Value-Add Opportunity with Below-Market Rents and Excess Land for Future Expansion
Supply-Constrained Medical Office Market with Limited New Development
Offered Well Below Replacement Cost with Strong Long-Term Appreciation
Additional Residential Property Included in the Sale, Currently Leased at $750/Month with 1,296 Square Feet and Lease Terms Remaining Through November 30, 2026
Building Details
Building Size
Buildings
Owner Occupied
Listing Agency:
Marcus & Millichap - Charlotte Uptown
Listed By:
CJ Wilson · License NC #353533
(704) 831-4639
Source:
Marcusmillichap
Added: Aug 9
Changed: Nov 5
Last Checked: Nov 10 at 5:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Charlotte Uptown
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The offering comprises a 6,280-square-foot medical office building at 8532 Old State Rd in Holly Hill, South Carolina. Although the facility is vacant, an existing lease obligation keeps the tenant responsible through April 2028. The property also includes adjacent excess land that may support additional parking, expansion, or other site improvements.
The surrounding medical office submarket is reported at 0% vacancy, while medical office development has declined 45% year over year. These conditions provide relevant context for future leasing or occupancy planning. The reported 5.61% cap rate and lease obligation through April 2028 add further measurable investment characteristics to the offering.
The surrounding medical office submarket is reported at 0% vacancy, while medical office development has declined 45% year over year. These conditions provide relevant context for future leasing or occupancy planning. The reported 5.61% cap rate and lease obligation through April 2028 add further measurable investment characteristics to the offering.
Key Highlights
- 6,280‑square‑foot medical office building at 8532 Old State Rd
- Tenant remains responsible for lease obligations through April 2028
- Adjacent excess land supports potential expansion or additional parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,346
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$926,920
$926.9K
Cap Rate 7%
$662,086
$662.1K
Cap Rate 9%
$514,956
$515.0K
Market Conditions
NOI Build-Up for 6,280 SF
Gross rent
$75.4K $12.00/SF
− Vacancy
−$13.6K −$2.16/SF
EGI
$61.8K $9.84/SF
− OpEx
−$15.4K −$2.46/SF
NOI
$46.3K $7.38/SF
Area
Orangeburg County, SC
Vacancy
18.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$926,920
Cap Rate 7%
$662,086
Cap Rate 9%
$514,956
Alternative Uses
Best Use
Office B
$662.1K
$579.3K – $772.4K
NOI $46,346 @ 7.0% cap · market cap 3.31%
Second Best
Healthcare Medical
$211.9K
$185.4K – $247.2K
NOI $14,830 @ 7.0% cap · market cap 1.06%
Theoretical Best
Specialty Retail
$909.8K
$796.1K – $1.06M
NOI $63,687 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29059, SC
5,662
Population
2,801
Households
2
Avg Household Size
46
Median Age
16%
College-Educated
85%
High-School Grad
109.2 sq mi
ZIP Area
52
Density / Sq Mi
$37,993
Median Household Income
$28,917
Median Earnings
$698
Median Rent
$111,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office property with adjacent excess land for future expansion, parking, or owner-user planning.
Where is this medical office space located?
The property is located at 8532 Old State Rd Holly Hill, SC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6,280‑square‑foot medical office building at 8532 Old State Rd; Tenant remains responsible for lease obligations through April 2028; Adjacent excess land supports potential expansion or additional parking
