Income producing Office

Office for Sale
Catylist Listing ID: 30774530
Property Subtypes: Business Park, Executive Suites, Office Building
Building Size (RSF): 2,304 SF
Gross Building Area: 5,000 SF
Gross Land Area: 0.05 - 0.06 Acres
Sale Price: $225,000
Unit Price: $97.66 PSF
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: Arlington Centre
Class of Space: Class B
Usable Size (USF): 1,300 SF
Core Factor: 57%
Sale Terms: Cash to Seller
Cap Rate: 7.15%
Average Occupancy Rate: 100
Last Updated: 11/17/2021

Overview / Comments

Fully lease office condo located in the heart of Greenville, NC's business district. This office investment has 6 fully leased suites which provide the tenants with essentially full service leases. The building has a shared internal corridor providing two lavatories. Suites range in size from 200-600 square feet.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $2,532 (Annual)
Tax Value Land $69,120
Tax Value Improvements $149,093
Tax Value Personal Property $0
Assessed Value - Total($) $218,213 (Annual)
Potential Rental Income $26,100 (Annual)
Gross Operating Income $26,100 (Annual)
Net Operating Income $16,090 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Greenville
County: Pitt
Taxing Authority: City of Greenville, County of Pitt
Tax ID/APN: 41405
Zoning: GENERAL COMMERCIAL
Property Located Between: South Evans and Greenville Blvd
Property Visibility: Good
Airports: PGV
Site Description: Office condo divided into 6 office suites
Area Description: Located on East Arlington Blvd, area is comprised of office users. Close to major retail
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1984
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Brick/Aluminum Siding
Exterior Description: Exterior is split faced block with aluminum trim. Two breezeways provide natural light and covered ingress/egress to the interior
Parking Type: Surface
Parking Description: Shared parking fields in the front and back of the subject
Total Parking Spaces: 50
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Offices consist of painted gypsum board, acoustic drop ceilings, fluorescent lighting, mixtures of floor coverings (LVT, VCT, carpet)
Zoning Description: General Commercial zoning, Check with City of Greenville for a list of permitted uses
Part of Planned Development?: Yes
Lot Frontage: 200
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Condo Association

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,265 77,713 101,538
Median Age: 27.12 30.3 31.37
Households: 6,589 33,014 42,061

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