722 Hyatt St Ofc Gaffney, SC 29341-2643

Property Details for 722 Hyatt St Ofc

Year built

2001

Lot size

2.80 lot acres

Property size

29,732 SF

Property type

Commercial real estate

APN

063-00-00-001.009

APU

630000001009

Description

This exceptional investment opportunity presents a 29,037 square foot medical office building located at 722 Hyatt St, Gaffney, SC 29341. The property is currently 100% occupied under a Net Lease (NN+) agreement with Spartanburg Healthcare System, a credit-rated tenant with an A2 rating from Moody's. The lease, recently renewed in March 2024, has a remaining term of 9.3 years with a 2.5% annual rent increase and one 5-year renewal option. The building, constructed in 2000 and renovated in 2011, serves as a primary care and cancer center, providing essential services to the community. Spartanburg Healthcare System operates a network of 166 medical sites, generating $5.7 billion in total patient revenue and $239.6 million in EBITDA. The asking price is $8,210,000, representing a 6.25% cap rate and a Net Operating Income (NOI) of $513,113. This fee-simple ownership offers a secure, long-term investment in a rapidly growing healthcare market within a high-growth state. The property benefits from the tenant's strong financial performance and the long-term lease structure, providing predictable and increasing cash flow. The building's location in Gaffney, South Carolina, places it within a thriving healthcare system and a rapidly expanding community.

Location Insight

City

Gaffney

County

Cherokee

State

South Carolina

Longitude

-81.6886

Latitude

35.0762

CBSA code

23500

CBSA name

GAFFNEY, SC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments