102 Dodd StSpring Hope, NC 27882

Property Details for 102 Dodd St

Year built

2004

Lot size

2.46 AC

Property size (Sq ft)

6,600 SF

Zone code

GB

Property type

Medical offices

Property subtype

Medical centers

APN

286018-42-0369

APU

286018420369

Description

This fee-simple investment offers a 6,480 square foot, single-tenant medical office building in Spring Hope, North Carolina. The property, built in 2004 on a 2.46-acre lot, is 100% occupied by Fresenius Kidney Care under a triple-net (NNN) lease with a remaining term of 9.8 years, including three and five-year renewal options. The lease, recently extended for an additional ten years, features market value rent bumps in option periods and is considered landlord-friendly with minimal expense exposure. Fresenius Medical Care, a leading global kidney care provider with over 4,100 outpatient clinics, provides a strong, credit-rated tenant with a corporate guarantee. The property boasts 37 parking spaces and is strategically located near major retailers such as Dollar General, Food Lion, and Advance Auto Parts. The asking price is $1,680,171, representing a 7.00% cap rate and a price per square foot of $259.29. The property generates a net operating income (NOI) of $117,612. This investment presents a compelling opportunity in a growing industry, offering stability and strong potential returns. The location, within a ten-mile radius of approximately 37,000 people with an average household income exceeding $80,000 annually, further enhances its attractiveness. The property is situated near the intersection of NC-581 Highway and US Highway 64 ALT. This is a fee simple ownership with no ground lease.

• CAP approach

  CAP return

  Valuation

  6%

  $1,599,800

  6.5%

  $1,476,739

  7%

  $1,371,258

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,747,162

  Geo Method

  $1,514,964

• Alternative Use

  Use

  Valuation

  Residential

  $1,831,156

  Hospitality

  $1,677,329

  Educational

  $1,395,518

  Medical

  $1,443,512

  Retail

  $2,170,806

Location Insight

City

Spring Hope

County

Nash

State

North Carolina

Latitude

35.9516

Longitude

-78.1076

CBSA code

40580

CBSA name

ROCKY MOUNT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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