4955 Southport-Supply Rd Southport, NC 28461

Property Details for 4955 Southport-Supply Rd

Property size

11,748 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a portfolio of three medical office buildings totaling 11,748 square feet, situated in Southport, Oak Island, and Brunswick, North Carolina. The property is 100% occupied by Southern Veterinary Partners (SVP), a national veterinary service provider, under a triple-net (NNN) lease with a corporate guarantee. The current lease commenced February 10, 2020, and expires February 27, 2035, offering a substantial remaining lease term of 10.3 years, with two 5-year renewal options. The buildings, constructed in 1966, 1991, and 2001, underwent renovations in 2000, 2000, and 2006 respectively. Each single-story building is strategically located on major thoroughfares, experiencing combined daily traffic exceeding 70,000 vehicles. The portfolio boasts a strong net operating income (NOI) of $238,423, resulting in a compelling 6.97% cap rate and a price per square foot of $291.28. The asking price for this exceptional investment is $3,422,000. The lease includes annual rent increases of 2.5% or CPI (whichever is less) providing consistent income growth for the investor. This portfolio offers a secure, low-maintenance investment in a growing sector of the healthcare industry, backed by a financially stable and reputable tenant with over 300 locations nationwide. The portfolio's prime location and strong tenant history make it an attractive opportunity for discerning investors.