1022 2Nd St Hickory, NC 28601

This exceptional investment opportunity presents a single-tenant, net-leased medical office building in Hickory, North Carolina. The 18,950-square-foot building, constructed in 1958 and situated on a 1.5-acre lot, is 100% occupied by KEDPLASMA, a leading global plasma collection company. The current lease, commencing June 1, 2017, and expiring May 31, 2032, offers a substantial remaining lease term of 7.5 years. The lease includes four 5-year renewal options with a 10% rent increase every five years, providing significant long-term income growth. The property boasts a strong 7.50% cap rate and a Net Operating Income (NOI) of $355,227. The building benefits from its prime location on 2nd Street NE, a major thoroughfare with over 25,500 vehicles per day, surrounded by a dense retail corridor including Lowe's, Lowes Foods, Starbucks, and other national retailers. Its proximity to Lenoir-Rhyne University (1,600 students), Hickory High School (1,200 students), and Frye Regional Medical Center (355-bed hospital) further enhances its desirability. The property is supported by a corporate guaranty and serves a population of over 73,800 within a five-mile radius, with an average household income exceeding $86,889. This investment offers a compelling combination of strong tenant, long-term lease, and excellent location in a thriving market. The property is e-commerce resistant and benefits from the essential nature of the tenant's business. The asking price is $4,736,365.