701 Roosevelt BlvdMonroe, NC 28112

Property Details for 701 Roosevelt Blvd

Year built

1996

Lot size

0.32 AC

Property size (Sq ft)

1,500 SF

Zone code

GB MONROE

Property type

Healthcare properties

Property subtype

Medical offices

APN

09-156-015A

APU

09156015A

Description

This exceptional 6,100 square foot Class B medical office building presents a unique owner-user and investment opportunity. Located in Monroe, North Carolina, at 701 E Roosevelt Blvd, zip code 28112, this property boasts two main units. One unit is currently leased to Pinnacle Dermatology, leaving approximately 3,000 square feet available for an owner-occupancy or additional leasing. The building is situated across Highway 74 from Atrium Union Hospital, benefiting from a strong medical presence in the immediate vicinity. The asking price is $1,416,477, translating to $232.21 per square foot. The property is zoned O-T and is designated as an Opportunity Zone, offering potential tax advantages for investors. This strategic location, combined with the existing tenant and ample space, makes this a compelling investment prospect in a thriving medical corridor. Further information on Opportunity Zones and their benefits can be found at the provided link. This is a modified lease property.

• CAP approach

  CAP return

  Valuation

  6%

  $423,830

  6.5%

  $391,228

  7%

  $363,283

• Comparable approach

  Method

  Valuation

  Relative Method

  $254,010

  Geo Method

  $254,010

• Alternative Use

  Use

  Valuation

  Residential

  $485,123

  Hospitality

  $444,370

  Educational

  $369,711

  Medical

  $382,425

  Retail

  $575,105

Location Insight

City

Monroe

County

Union

State

North Carolina

Latitude

34.9767

Longitude

-80.519

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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