508 Sutherland AveMonroe, NC 28112

Property Details for 508 Sutherland Ave

Year built

1960

Construction

WOOD

Lot size

0.23 AC

Property size (Sq ft)

1,196 SF

Zone code

OT MONROE

Property type

Office buildings

APN

09-194-132

APU

9194132

Description

This 1,196 square foot office space, located at 508 S Sutherland Ave in Monroe, North Carolina (zip code 28112), is perfect for a single tenant seeking a versatile workspace. The property is zoned O/M, suitable for both standard and medical office uses (zoning verification with Monroe city is recommended). Previously occupied by Edward Jones, the layout includes a waiting/reception area, three private offices, a break room, and a restroom. A private employee entrance adds to the convenience and security. The building's total square footage is 1,196 square feet, with all of it currently vacant and available for lease. This exceptional location offers high visibility and accessibility, situated directly across from Atrium Health Monroe Hospital in Union County. The property's features make it an ideal space for a variety of businesses, offering a blend of functionality and convenience in a desirable location. The property type is classified as Office, with subtypes including Medical Office, Traditional Office, and Creative Office.

• CAP approach

  CAP return

  Valuation

  6%

  $382,992

  6.5%

  $353,531

  7%

  $328,279

• Comparable approach

  Method

  Valuation

  Relative Method

  $202,531

  Geo Method

  $202,531

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $676,872

  Retail / Commercial

  $350,845

  Mixed-Use / Specialty

  $352,549

  Hospitality / Lodging

  $262,500

  Institutional / Educational

  $367,564

  Residential Income

  $430,050

  Multifamily

  $499,402

  Automotive / Energy

  $315,055

  Parking / Income-Based Land

  $105,803

  Restaurant / Food Service

  $189,668

  Healthcare / Senior Housing

  $358,503

Location Insight

City

Monroe

County

Union

State

North Carolina

Latitude

34.9773

Longitude

-80.5259

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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