214 Klumac RdSalisbury, NC 28144

Property Details for 214 Klumac Rd

Year built

2005

Lot size

0.47 AC

Property size (Sq ft)

5,900 SF

Zone code

M1

Property type

Office properties

Property subtype

Office buildings

APN

017 010

APU

17010

Description

This Salisbury, NC office building presents a compelling investment opportunity. The 5,600 square foot, two-story building boasts 100% occupancy with two tenants, generating a strong NOI of $53,926 and a 6.75% cap rate. Built in 2005, this Class B property features three units and sits on a 0.47-acre lot with ample parking. No leases expire before 2027, offering long-term stability. The asking price is $799,000, translating to $142.68 per square foot. Its strategic location in Salisbury, part of the Charlotte metro area, provides easy access to major highways (I-85, Hwy-29, Hwy-52, and Hwy-601). An adjacent 1.02-acre commercially zoned lot is also available for potential expansion. This stabilized investment offers below-market rents, promising significant future growth potential. The property's strong cash flow and prime location make it an attractive addition to any portfolio. This is a rare opportunity to acquire a well-maintained, fully occupied office building in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,422,348

  6.5%

  $1,312,936

  7%

  $1,219,155

• Comparable approach

  Method

  Valuation

  Relative Method

  $999,106

  Geo Method

  $999,106

• Alternative Use

  Use

  Valuation

  Residential

  $1,628,041

  Hospitality

  $1,491,277

  Educational

  $1,240,725

  Medical

  $1,283,395

  Retail

  $1,930,017

Location Insight

City

Salisbury

County

Rowan

State

North Carolina

Latitude

35.6549

Longitude

-80.4876

CBSA code

16740

CBSA name

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

Property Tax & Assessments

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