$19,200,000 | N/A beds | N/A full baths | N/A half baths | 56,400 sqft

$19,200,000 No Recent Price Change
4221 Faber Pl Dr
North Charleston, SC 29405
  • $340.43Price per SqFt
  • 56,400SqFt
  • 245Days on Market
  • N/AZoning
  • N/AYear Built
  • OfficeUse
  • 4100000034Tax ID
  • MLS# 30786783
  • Commercial Sales
  • Office
  • Active

  • Approx Time on Market8 months, 3 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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On robertsonhowland.com since Thu, Feb 3rd 2022
No Property History recorded for this listing.
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