853 Laurel StLincolnton, NC 28092

Property Details for 853 Laurel St

Year built

1986

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.49 AC

Property size (Sq ft)

3,000 SF

Zone code

O-I

Property type

Medical offices

Property subtype

Medical centers

APN

20695

APU

20695

Description

This exceptional investment opportunity presents a 3,000 square foot medical office building in Lincolnton, North Carolina, currently 100% occupied by Atrium Health under a triple-net (NN) lease. The property, situated on a 0.495-acre lot at 853 S Laurel St, boasts 15 parking spaces and is conveniently located approximately five minutes from Highway 321 and ten minutes from Lincolnton Hospital. Built in 1986 and last renovated in 2014, the single-story building features O-I zoning. The current lease, with a corporate guarantee from Atrium Health, commenced December 1, 2022, and has a remaining term of three years, expiring December 1, 2027, with a five-year option at 102% of the current rate. The asking price is $640,000, representing a compelling 7.00% cap rate and a price per square foot of $213.33. The landlord is responsible for roof, asphalt, and HVAC replacement. This property has enjoyed continuous occupancy for over two decades, demonstrating its enduring appeal and strong tenant history. This is a rare opportunity to acquire a stable, net-leased medical office building with a high-quality tenant in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $700,970

  6.5%

  $647,049

  7%

  $600,831

• Comparable approach

  Method

  Valuation

  Relative Method

  $508,020

  Geo Method

  $508,020

• Alternative Use

  Use

  Valuation

  Residential

  $802,340

  Hospitality

  $734,940

  Educational

  $611,461

  Medical

  $632,490

  Retail

  $951,162

Location Insight

City

Lincolnton

County

Lincoln

State

North Carolina

Latitude

35.4679

Longitude

-81.2425

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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