For Sale
$2,695,000

1896 Main St Waynesville, NC 28786

Net-leased medical office building, strong tenant mix.

Overview

Added:
Dec 11, 2024
Days on market:
127
West Towne Square, located at 1896 S Main St, Waynesville, NC 28786, presents a compelling investment opportunity. This single-story, 11,324 square foot Class B medical office building sits on a 1.25-acre lot and boasts 52 parking spaces. Constructed in 1989, the property is zoned Comm - 15 and features seven individual units with a current occupancy rate of 86%. The building is currently operating under a triple net (NNN) lease structure with a multi-tenant occupancy. Seven established tenants, including H&R Block, State Farm, a state agency, and an optometrist office, provide a stable income stream. The leases include rent bumps averaging over 5%, offering potential for future income growth. This well-maintained property benefits from its location in a thriving area of Waynesville, providing convenient access to major highways. The property's strong tenant base, favorable lease terms, and prime location make it an attractive investment opportunity in a growing market. The APN is 8604-79-660. This is a turnkey investment with easy management potential.

Highlights

  • $2,695,000 asking price for a Net Leased Medical Office building.
  • 11,324 square feet, 86% occupied, with seven tenants.
  • Located at 1896 S Main St, Waynesville, NC 28786.
  • Class B, single-story building built in 1989 on a 1.25-acre lot with 52 parking spaces.
  • Features rent bumps of 5%+ and a strong tenant mix including H&R Block and State Farm.

Property Details for 1896 Main St

Property type
Retail properties, Office properties
Square Feet
11,324 SF
Class
B
Year Built
1989
Buildings
1
Stories
1
Lot Size (sq. ft)
54,450 SF
Units
7

Location Insight

City
Waynesville
County
Haywood
State
North Carolina
Latitude
35.468422
Longitude
-83.0057125
1896 Main St, Waynesville, North Carolina

FAQs

What type of property is this?
Retail property - Net-leased medical office building, strong tenant mix.
Where is the retail property located?
The property is located at 1896 Main St Waynesville, NC.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: $2,695,000 asking price for a Net Leased Medical Office building.; 11,324 square feet, 86% occupied, with seven tenants.; Located at 1896 S Main St, Waynesville, NC 28786.
How can I contact the broker?
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1896 Main St
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