For Sale
$1,452,500

1090 Vinehaven DrConcord, NC 28025

High-yield medical office, 6.5% cap rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 5,390 square foot medical office building, located at 1090 Vinehaven Dr NE in Concord, NC, presents a compelling investment opportunity. Built in 2004, the Class B property sits on a 0.6-acre lot and boasts a desirable C-2 zoning classification. Currently 100% occupied by Atrium Health Weight Management -Concord (a tenant since 2011), the building generates a strong net operating income (NOI) of $94,408, representing a 6.50% capitalization rate on the asking price of $1,452,500. The current lease expires in July 2026, however, negotiations are underway for an early lease extension through 2036, with renewal options and a potential shift to an absolute net lease structure. This long-term lease provides exceptional stability and predictable cash flow. The property features one story and is offered fee simple. This is a rare opportunity to acquire a well-located, high-performing medical office building with significant upside potential in a thriving market. The property's strong tenant history, favorable lease terms, and attractive cap rate make it an ideal addition to any investment portfolio. The Cabarrus County location and convenient access further enhance its appeal. The property's APN is 56228746630000.

Highlights

  • Asking Price: $1,452,500
  • In-Place NOI: $94,408
  • Projected Year 1 NOI: Under negotiation for lease extension
  • Current Lease Expiration: July 2026, with negotiations underway for extension to 2036 with renewal options and potential conversion to absolute net lease
  • Tenant: Atrium Health Weight Management - Concord (since 2011), with two 5-year renewal options
  • 100% Occupancy

Property Details for 1090 Vinehaven Dr

Property type
Office properties, Medical offices
Square Feet
5,390 SF
Class
B
Year Built
2004
Stories
1
Lot Size (sq. ft)
26,136 SF

Location Insight

City
Concord
County
Cabarrus
State
North Carolina
Latitude
35.4641784
Longitude
-80.5835099
1090 Vinehaven Dr, Concord, North Carolina

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1090 Vinehaven Dr
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