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511 Paladin Dr 17,700 SF Office Building Greenville, NC 27834 $3,100,000 ($175.14/SF) 12.96% Cap Rate
Investment Highlights
- Established regional medical tenant
- Proximity to ECU Health Medical District
- Ample on-site parking
- Existing ambulatory surgical center (vacant and functional layout)
- Strong medical corridor location
- Opportunity for lease extension or owner-user conversion
Executive Summary
511 Paladin Drive is a ±17,000 SF medical office building strategically positioned in Greenville’s established healthcare corridor, just minutes from the ECU Health Medical District.
The property is currently leased to Eastern Nephrology Associates (ENA) under a triple-net structure, providing stable in-place income. ENA occupies a portion of the building but leases the full facility, creating a unique opportunity for future owner-users or investors to reposition the asset. A significant portion of the building includes a fully built-out ambulatory surgical center (ASC) addition (constructed circa 2006).
The surgical center is currently not being utilized by the tenant, presenting substantial upside for:
-Medical owner-users seeking immediate surgical infrastructure
-Investors pursuing value-add repositioning
-Groups looking to lease or activate the existing ASC build-out
Key Highlights:
±17,000 SF medical office building
Triple-net lease structure
Established regional medical tenant
Existing ambulatory surgical center (vacant and functional layout)
Proximity to ECU Health Medical District
Strong medical corridor location
Ample on-site parking
Opportunity for lease extension or owner-user conversion
The property’s location near ECU Health and Greenville’s primary medical ecosystem enhances long-term demand fundamentals for specialty medical, surgical, and outpatient providers. Ideal for investors seeking income with upside or medical operators looking to secure a strategic footprint near the hospital campus.
The property is currently leased to Eastern Nephrology Associates (ENA) under a triple-net structure, providing stable in-place income. ENA occupies a portion of the building but leases the full facility, creating a unique opportunity for future owner-users or investors to reposition the asset. A significant portion of the building includes a fully built-out ambulatory surgical center (ASC) addition (constructed circa 2006).
The surgical center is currently not being utilized by the tenant, presenting substantial upside for:
-Medical owner-users seeking immediate surgical infrastructure
-Investors pursuing value-add repositioning
-Groups looking to lease or activate the existing ASC build-out
Key Highlights:
±17,000 SF medical office building
Triple-net lease structure
Established regional medical tenant
Existing ambulatory surgical center (vacant and functional layout)
Proximity to ECU Health Medical District
Strong medical corridor location
Ample on-site parking
Opportunity for lease extension or owner-user conversion
The property’s location near ECU Health and Greenville’s primary medical ecosystem enhances long-term demand fundamentals for specialty medical, surgical, and outpatient providers. Ideal for investors seeking income with upside or medical operators looking to secure a strategic footprint near the hospital campus.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
17,700 SF
Building Class
B
Year Built/Renovated
1999/2006
Price
$3,100,000
Price Per SF
$175.14
Cap Rate
12.96%
NOI
$401,900
Tenancy
Single
Building Height
1 Story
Typical Floor Size
17,700 SF
Building FAR
0.14
Lot Size
2.89 AC
Zoning
MO - Medical Office zoning supports clinics, outpatient care, labs, and specialty practices near hospital and healthcare corridors.
Parking
82 Spaces (4.63 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Wheelchair Accessible
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Eastern Nephrology Associates began in 1975 and later merged with Southeastern Nephrology Associates in 2019 under the Eastern Nephrology name. The practice focuses on comprehensive kidney care across eastern North Carolina and northeastern South Carolina, with services that include chronic kidney disease management, end-stage kidney disease care, dialysis, kidney transplantation, vascular access, hypertension treatment, clinical research, and in-house laboratory support. Eastern Nephrology Associates operates through a patient-centered model that brings nephrologists, advanced practice providers, nurses, and other clinical staff into coordinated care for kidney disease. The business maintains a broad regional presence through office sites, dialysis centers, vascular access centers, and outreach clinics.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 049131 | Improvements Assessment | $2,283,526 |
| Land Assessment | $528,736 | Total Assessment | $2,812,262 |
Property Taxes
Parcel Number
049131
Land Assessment
$528,736
Improvements Assessment
$2,283,526
Total Assessment
$2,812,262
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