605 Grove StSalisbury, NC 28144

Property Details for 605 Grove St

Year built

1996

Lot size

0.38 AC

Property size (Sq ft)

8,205 SF

Zone code

B1

Property type

Medical offices

Property subtype

Medical centers

APN

006 028

APU

6028

Description

This exceptional two-story medical office building presents a unique investment opportunity in Salisbury, NC. Strategically located in the city's thriving medical corridor, just one block from Novant Health Rowan Medical Center, this property boasts unparalleled visibility and accessibility. The building comprises two distinct suites, each offering complete independence and functionality. The upper suite encompasses 4,688 square feet, while the lower suite provides 4,313 square feet of space. Each suite features its own private entrance, ample parking, a dedicated reception area, multiple offices, and several exam rooms. Furthermore, the suites are equipped with separate utility meters, providing efficient cost management for individual occupants. This configuration makes the building perfect for a single large medical practice seeking expansive space or for two separate practices looking for a collaborative yet independent environment. The property's prime location, coupled with its versatile layout and modern amenities, makes it an attractive proposition for a wide range of medical users, from orthopedics to urgent care facilities. The asking price is $1,500,000. This is a rare opportunity to acquire a well-established and highly visible medical office building in a rapidly growing area. Don't miss out on this exceptional investment.

• CAP approach

  CAP return

  Valuation

  6%

  $900,185

  6.5%

  $830,940

  7%

  $771,587

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,041,485

  Geo Method

  $1,389,435

• Alternative Use

  Use

  Valuation

  Residential

  $1,030,365

  Hospitality

  $943,809

  Educational

  $785,238

  Medical

  $812,244

  Retail

  $1,221,482

Location Insight

City

Salisbury

County

Rowan

State

North Carolina

Latitude

35.6791

Longitude

-80.4723

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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