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1141 N Road Street

Elizabeth City, NC 27909
  • $2,400,000
  • STATUS: Active
  • ON SITE: 121 Days
  • ID#: 8108213
UPDATED: 104 min ago
$2,400,000
  • 0
    BEDS
  • 25
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 32,066
    SQFT
  • $75
    $/SQFT
Type:
Commercial-Lease
Built:
1989
County:

School Ratings & Info

Description

Fully leased Medical/Office Park with 8 tenants on modified gross leases. Current income for 2022 is $357,857.40 with projected expenses of $97,044.46 or less giving a projected NOI of $260,812.94 making this a 10.86% cap rate investment. Approximately 3 acres of high land behind the Bank included with the sale for future development potential. Additional acreage behind the buildings is mostly swampland. Actual 2021 NOI was $194,017.25 due to having $30k less in rents with vacancies, $36k upfitting those vacancies, $12k in Real Estate commissions, and paying electric bills on vacancies., Property is for rent, est Taxes 34582.00, Current Lease See docs, Annual Income is 357857.40

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© 2022 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS. Data last updated 2022-12-01T00:11:14.84.
www.thebethhinesteam.com/homes/131468263
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1141 N Road Street Elizabeth City, NC 27909

  • Price: $2,400,000
  • Status: Active
  • On Site: 121 Days
  • Updated: 104 min ago
  • ID#: 8108213
0
Beds
0
Baths
0
½ Baths
25
Acres
32,066
SQFT
$75
$/SQFT
1989
Built
County:
Pasquotank
Area:
Elizabeth City
Property Description
Fully leased Medical/Office Park with 8 tenants on modified gross leases. Current income for 2022 is $357,857.40 with projected expenses of $97,044.46 or less giving a projected NOI of $260,812.94 making this a 10.86% cap rate investment. Approximately 3 acres of high land behind the Bank included with the sale for future development potential. Additional acreage behind the buildings is mostly swampland. Actual 2021 NOI was $194,017.25 due to having $30k less in rents with vacancies, $36k upfitting those vacancies, $12k in Real Estate commissions, and paying electric bills on vacancies., Property is for rent, est Taxes 34582.00, Current Lease See docs, Annual Income is 357857.40
Exterior Features

Construction Wood Frame Foundation Slab Lot Description Corner Lot Lot Water Features None Road Type Frontage Public (City/Cty/St) Roof Composition

Interior Features

Cooling System Central Flooring CarpetVinyl Sq Ft Office 10000.00

Property Features

City Limits Yes Commercial Features Ada Compliant Electric Provider City Of Elizabeth City Lease Terms 1 Year Or MoreYear To Year Lease Types Gross Sale Or Lease Sale Tax Year 2022 Total Annual Expenses 97044.46 Water Sewer Community Water AvailableElectricity ConnectedMunicipal SewerNatural Gas Available Zoning Gb



Listing information © 2022 NCRMLS
Listing courtesy of Alex Rich of Rich Company: (252) 338-5432.


© 2022 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS. Data last updated 2022-12-01T00:11:14.84.
 
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