685 Bennett StSouthern Pines, NC 28387

Property Details for 685 Bennett St

Year built

1960

Lot size

1.61 AC

Property size (Sq ft)

15,888 SF

Property type

Office properties

Description

This exceptional investment opportunity presents a fully leased, 15,888 square foot office portfolio situated in the heart of Downtown Southern Pines, North Carolina. The property, encompassing 673-685 S Bennett Street and 660-670 SW Broad Street, consists of six units across a single, one-story building constructed in 1960. Currently boasting 100% occupancy with five diverse tenants including ARC of Moore County, Special Forces Charitable Trust, and others, the property generates a substantial net operating income (NOI) of $124,730, translating to a compelling 5.5% capitalization rate. The asking price is $2,290,000, or $144.13 per square foot, and $381,666.67 per unit. The 1.61-acre lot offers convenient off-street parking accessed via Bennett Street, while the Broad Street frontage provides excellent visibility and accessibility. The property is zoned for Central Business within the Downtown Overlay and benefits from its proximity to US Highway 1, ensuring easy access to surrounding areas. This value-add investment presents a stable and attractive income stream with significant upside potential. The property's strong tenant roster and prime location make it an ideal addition to any commercial real estate portfolio.

Location Insight

City

Southern Pines

County

Moore

State

North Carolina

Latitude

35.1694

Longitude

-79.3995

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