127-129 Steele St 129, Sanford, NC 27330-3917

This 5,743 square foot medical office building, constructed in 1960, is situated on a 5,743 square foot lot at 127-129 N Steele St, Sanford, NC 27330. Currently leased to Central Carolina Gynecology, a well-established practice with over 25 years of service in the community and a partnership with Central Carolina Hospital, a 137-bed acute care facility affiliated with Duke LifePoint. The asking price is $740,579, representing a compelling $128.95 per square foot and an attractive 8.42% cap rate. The lease includes a beneficial 2% annual rent increase, providing a hedge against inflation. This property offers a high return on investment, priced below replacement cost for a fully built-out medical office. Its location less than an hour from the Research Triangle, Duke University, UNC, and NC State University, provides access to advanced medical technology and facilitates physician recruitment. The strong tenant, backed by a major hospital system, and the growing Sanford economy, fueled by recent investments from Bharat Forge and Kyowa Kirin, contribute to the property's long-term value and stability within the robust women's health market. This presents a unique opportunity for investors seeking a stable, high-yield investment in a growing market.