For Sale
$450,000

620 Innes StSalisbury, NC 28144

Fully occupied, high-return office building.

Overview

Added:
Feb 3
Days on market:
62
This exceptional investment opportunity presents a fully occupied, 3,810 square foot stand-alone office building located at 620 W Innes Street, Salisbury, NC. The property, situated on a 0.51-acre lot with 96 feet of frontage, boasts a prime location just a quarter-mile from Salisbury's city center. Currently leased to a nationally recognized charity, the building offers a secure, long-term lease extending through December 31, 2025, with an option to extend through 2028, incorporating annual rent increases. Generating a substantial gross annual income of $42,600, this property presents an attractive 8% capitalization rate with minimal landlord expenses. Built in 1966, this single-story, full-brick building showcases mid-century modern architecture, highlighted by a pitched/vaulted roofline, exposed rafters, abundant large windows, exterior paneling, and sleek interior/exterior brickwork. The spacious interior includes a remarkable 25' x 33' meeting room, nine individual offices, a breakroom, two restrooms, ample storage space, a mechanical room, a welcoming lobby, and an enclosed glass entryway. The property also features asphalt parking with 20 designated spaces. Zoned RMX, this versatile property offers a wide array of permissible uses. This offering is part of a larger portfolio of income-producing commercial properties available for purchase in Salisbury. This is a rare opportunity to acquire a stable, high-yielding investment in a desirable location.

Property Details for 620 Innes St

Property type
Office properties
Square Feet
3,810 SF
Year Built
1966
Lot Size (sq. ft)
22,216 SF

Location Insight

City
Salisbury
County
Rowan
State
North Carolina
Latitude
35.67264
Longitude
-80.47552
620 Innes St, Salisbury, North Carolina

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620 Innes St
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