100% Leased – 8.74% Cap

Office for Sale
Also listed as Industrial
Catylist Listing ID: 30193977
Property Subtypes: Office Building, General
Building Size (RSF): 22,893 SF
Gross Land Area: 2.19 Acres
Sale Price: $2,975,000
Unit Price: $129.95 PSF
Property Use Type: Investment
Building Name: 100% Leased -- 8.74% Cap
Class of Space: Class B
Usable Size (USF): 22,893 SF
Sale Terms: Cash to Seller
Cap Rate: 8.78%
Average Occupancy Rate: 100
Last Updated: 3/30/2020

Overview / Comments

UPDATED WITH NEW LEASES – 100% LEASED – 8.74% CAP

Located in the Northchase Industrial Park, this two-story +/-22,893 SF office
building is currently 100% leased and contains an elevator, dedicated fiber optic
line, 3-phase power & one dock high with double doors.

DIRECTIONS: From N College, travel past Laney High School, and turn right onto Northchase Parkway, then right on Corporate Drive. Building will be on your right.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $9,677 (Annual)
Gross Operating Income $319,494 (Annual)
Net Operating Income $246,478 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: 324013.12.2652.000,
Zoning: NEW HANOVER COUNTY: PD
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 11,440 SF
Year Built: 2008
Year Renovated: 2019
Construction/Siding: Brick
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Heat Pump
Zoning Description: PD
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,972 28,289 79,417
Median Age: 33.52 35.71 36.06
Households: 1,236 11,372 34,286
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