605 Grove StSalisbury, NC 28144

  • Healthcare properties
  • 8,205 SF
For Sale
$1,500,000 View listing

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
Healthcare properties
Property subtype
Medical offices
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
605 Grove St, Salisbury, North Carolina

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,445
$225,500
$1,233,151
$1,458,651
-
$225,500
$1,233,151
$1,458,651

FAQs

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