4 B Cleveland Ct Greenville, SC 29607

Property Details for 4 B Cleveland Ct

Property size

1,568 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This 1,568 square foot medical office building in Greenville, South Carolina, is currently leased to Straine Dental Management, a large and growing dental service organization with over 30 locations nationwide. The property boasts a strong 7.75% cap rate and a net operating income (NOI) of $30,551, based on an asking price of $394,206. The lease has over eight years remaining, featuring a favorable 2.0% annual rent increase, providing a built-in hedge against inflation. A unique aspect of this lease is the inclusion of a capital expenditure reimbursement structure, mitigating the landlord's financial risk associated with major building repairs. Located in a thriving medical office park with numerous complementary medical specialties, this property benefits from a high-income demographic area, with an average household income exceeding $149,000 within a one-mile radius and a population of 158,000 within a five-mile radius projected to grow. The high cost of relocation for dental practices, due to significant build-out expenses, ensures tenant stability and long-term value. This presents a compelling investment opportunity in a robust market, offering a relatively low-risk, high-return investment with significant upside potential.