For Sale
$2,250,000

160 Turnberry WayPinehurst, NC 28374

6,853 SF, 100% Occupied, 6.80% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional Class A medical office building, situated on a 0.91-acre lot in Pinehurst's Turnberry Wood Business Park, presents a compelling investment opportunity. The property boasts 6,853 square feet across two stories, featuring two units and 32 parking spaces. Currently 100% occupied by two strong medical tenants—Carolina Center for Oral & Facial Surgery (leased in 2022) and Osteo Strong (leased in 2023)—this net-lease investment offers a stable income stream with minimal landlord responsibilities. The building was constructed in 2016 and benefits from a favorable location at the northwest corner of Highway 15-501 and Morganton Road, providing excellent visibility and convenient access to major commercial corridors, schools, residential areas, and Pinehurst's renowned golf courses. The current lease terms are for five years with two five-year renewal options, and include a 3% annual rent bump. The property's Net Operating Income (NOI) is $153,783, resulting in an attractive 6.80% capitalization rate. The asking price is $2,250,000. The property is zoned OS and has a Moore County APN of 857105091757. This investment offers a strong return with significant upside potential.

Highlights

  • Two strong medical tenants, Carolina Center for Oral & Facial Surgery (2022 lease) and Osteo Strong (2023 lease).
  • Five-year initial lease term with five-year renewal options.
  • $153,000 annual net operating income (NOI) and favorable loan terms.

Property Details for 160 Turnberry Way

Property type
Office properties, Medical offices
Square Feet
6,853 SF
Class
A
Year Built
2016
Buildings
1
Stories
2
Lot Size (sq. ft)
39,640 SF
Units
2

Location Insight

City
Pinehurst
County
Moore
State
North Carolina
Latitude
35.177535386516
Longitude
-79.43489122587
160 Turnberry Way, Pinehurst, North Carolina

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160 Turnberry Way
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