$19,200,000
No Recent Price Change
4221 Faber Pl Dr
North Charleston, SC 29405
North Charleston, SC 29405
- $340.43Price per SqFt
- 56,400SqFt
- 358Days on Market
- N/AZoning
- N/AYear Built
- OfficeUse
- 4100000034Tax ID
- MLS# 30786783
- Commercial Sales
- Office
- Active
- Approx Time on Market11 months, 24 days
- AreaNorth Charleston/summerville Outside I-526
- CountyCharleston
- SubdivisionN/A
Overview
4221 Faber Place Drive is a 56,400 SF single tenant FDA validated sterile clean drug manufacturing facility. The Tenant is Alcami Carolinas Corporation. They provide small batch drug manufacturing and testing for drug developments. The FDA approval is extremely hard and expensive to obtain. The lease is NNN at a current in place rent of $960,000 per year ($80,000 per month). The cap rate is 5.0% for an offering price of $19,200,000. The tenant has been in the building since 1999 and has expanded twice, just completing its last 2,400 SF expansion in 2021. The current lease term commenced April 1, 2021 for a 20 year term that will expire March 31, 2041. The tenant has one five year option to renew. The rents increase every two years by the lesser of the cumulative increase in the CPI every two years or 5.5%. The next rent increase will occur on April 1, 2023.
Building Info
Year Built Date: 1,999
Visibility: Excellent
Financial
Sale Terms: Cash to Seller
Sale Price Max Total: $19,200,000
Sale Price Min Total: $19,200,000
Lot Info
Acres: 3.65
Landsize Units: Acre
Misc
Use Type: Net Leased Investment (NNN)
Property Info
Msa: Charleston-North Charleston
Title: The Alcami Building
County: Charleston
Property Subtype: High-Tech, Medical, Office Building
Sale / Lease Info
Sqft Info
Sqft: 56,400
Size Rentable Sf: 56,400
Tax Info
Taxing Authority: North Charleston
Courtesy of listing office CBRE, Inc
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