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$450,000

Est. payment - /mo

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2 BA

0.51 Acres Lot

New

620 W Innes ST Salisbury, NC 28144

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BARNETT REALTY TEAM

[email protected] +1(919) 370-0161

UPDATED:

01/06/2025 04:20 PM

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

MLS Listing ID 4210866

Year Built 1966

Lot Size 0.510 Acres

Acres 0.51

Lot Dimensions 93'x228'x101'x228'

Property 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.

Location

State NC

County Rowan

Zoning RMX

Interior

Heating Central, Forced Air

Cooling Central Air

Flooring Carpet, Tile, Laminate

Inclusions Building, Fixtures, Land

Exterior

Utilities Available Cable Available, Electricity Connected, Fiber Optics, Gas, Phone Connected

Total Parking Spaces 22

Building

Lot Description Infill Lot, Level, Paved

Dwelling Type Site Built

Sewer Public Sewer

Water City

Structure Type Brick Full

New Construction false

Others

Senior Community false

Restrictions No Representation

Special Listing Condition Subject to Lease

Listed by Jason Dolph • Modern Brokerage • [email protected]

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BARNETT REALTY TEAM

REALTORS * INVESTORS * GROWTH AMBASSADORS * CEOS * | License ID: 292893

+1(919) 370-0161