Towne Park East - Medical Office Investment

800 - 814 Towne Park East Drive Rincon, GA 31326

800 - 814 Towne Park East Drive, Rincon, GA, 31326
Building 800
800 - 814 Towne Park East Drive, Rincon, GA, 31326
FOR SALE
Property Type:
Medical/Healthcare
Amount:
$4,995,000
Last Verified:
Sep 24, 2020

Highlights

  • 2021 NOI: $381,925.68
  • Capitalization Rate: 7.65%
  • 90.48% Occupancy
  • 56.73% Medical Tenant Occupancy
  • $112.34 PSF (Far Below Replacement Cost)
  • Upside Potential: Below Market Rents & 9.52% Vacancy
  • Signalized Intersection Access (Hwy. 21 / Towne Park East Drive)

Description

Towne Park East is a +/- 44,463 square foot Medical Office Investment offering 1st floor office space at the signalized intersection of Highway 21 and Towne Park East Drive. The asset is 90.48% leased at below-market rents, which provides tremendous upside potential to an investor. Based on 2021 net operating income (NOI), the property is being offered at a 7.65% cap rate, which equates to $381,925.68.

Rincon is located within the Savannah MSA in Effingham County and is approximately 5 miles from I-95 at Exit 109 with a strong spending population of 62,000+ residents and an average household income in excess of $78,000 within (1) mile of the property. Rincon's tremendous population growth of 57.6% in the last decade, and the county's impressive growth of 30%, has caught the attention of many national retailers has such as Lowe's, Kroger, Wal-Mart, Planet Fitness, Tractor Supply, Walgreen's and Chick-Fil-A. GA Highway 21 is the main thoroughfare in and out of the county. The traffic count is approximately 31,400 vehicles per day.

Building Size: 44463.0sq ft
Building Class: B
Lot Size: 4.96 acres

Map of 800 - 814 Towne Park East Drive, Rincon, GA, 31326

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