620 W Innes Street , Salisbury, NC 28144
Salisbury, NC 28144
Description
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 renown 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 8% 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.
Details
| MLS# | 4210866 |
|---|---|
| Listing Type | For Sale |
| Style | Office Building |
| Sub-Type | Resale |
| Status | Active |
| Year | 1966 |
| Days On Site | 14 |
| Listing Provided By | Modern Brokerage | Jason Dolph |
Features
| Bath(s) | 2 |
|---|---|
| SQ Feet | 3,810 |
| Building(s) | 1 |
| Zoning | RMX |
| Acreage | 0.51 |
Market Activity 28144
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Learn More About This Property
| State | NC |
|---|---|
| County | Rowan |
| City | Salisbury |
| Zip Code | 28144 |
| Area | Rowan |
| Listing VS Median (in 28144) | |
Price: $450,000 low | high Med: $265,000 SqFt: 3,810 low | high Med: 2,250 $ / SqFt: $118 low | high Med: $118 On Site: 14 low | high Med: 81.000000 | |