620 W Innes St - Office FOR SALE


Salisbury, NC 28144
$450,000 USD
704-502-0388
620 W Innes St, Salisbury, NC for Sale
$450,000 USD
Office - FOR SALE
1/19
null | 7.99% Cap Rate

620 W Innes St
Salisbury, NC 28144


HIGHLIGHTS

  • Fully occupied stand-alone office building just a quarter-mile from center-city Salisbury
  • $42,600 Gross Annual Income offered at an 8% Cap Rate with minimal landlord expenses
  • Mid-century modern style - pitched/vaulted roofline, exposed rafters, numerous large windows, exterior paneling, & sleek interior/exterior brick
  • Enormous 25' x 33' Meeting Room, (9) Offices, a Breakroom, (2) Restrooms, Storage, Mechanical, Lobby, and Enclosed Glass Entry
  • Situated on .51 acres with 96' of frontage along W. Innes St. 20+ Designated Parking Spaces
  • Part of a family-owned multi-property portfolio of income-producing commercial real estate available for purchase in Salisbury

OVERVIEW

A remarkable investment opportunity to purchase a fully occupied stand-alone office building just a quarter-mile from center-city Salisbury. Leased to a nationally renowned charity through 12/31/25 with option through the end of 2028 with a monthly rent increase. $42,600 Gross Annual Income offered at an 7.99% Cap Rate with minimal landlord expenses. The full brick one-story was built in 1966 in a mid-century modern style featuring a pitched/vaulted roofline, exposed rafters, numerous large windows, exterior paneling, and sleek interior/exterior brick. It features an enormous 25' x 33' Meeting Room, (9) Offices, a Breakroom, (2) Restrooms, Storage, Mechanical, Lobby, and Enclosed Glass Entry. Situated on .51 acres with 96' of frontage along W. Innes St. Asphalt parking with 20+ designated spaces. Zoned RMX with an array of permissible uses. Part of a family-owned multi-property portfolio of income-producing commercial real estate available for purchase in Salisbury. Offering Memorandum with financial information available in Data Section.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$118 USD /SF

CAP RATE

7.99%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Leased Office to National Tenant

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

RMX

APN/PARCEL ID

006-185

ASK ABOUT THIS PROPERTY

Jason DolphModern BrokerageMore Info
704-502-0388

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Jason DolphModern BrokerageMore Info
704-502-0388

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.