235 Pennsylvania AveSouthern Pines, NC 28387

Property Details for 235 Pennsylvania Ave

Year built

1985

Lot size

0.90 AC

Zone code

MULTI

Property type

Office properties

Property subtype

Office buildings

APN

37831

APU

37831

Description

This exceptional 4,995 square foot office building, situated at 235 E Pennsylvania Ave in Southern Pines, NC, presents a fantastic leasing opportunity. Built in 1973 and extensively renovated in 2021, this Class B property boasts 15 individual suites within a single-story building, ideal for multiple tenants. The 0.89-acre lot provides ample parking with 26 spaces. Conveniently located on the corner of E Pennsylvania Avenue and N Ashe Street, the building offers easy access to the vibrant downtown area, including restaurants, retail shops, and the post office. Shared amenities include a reception area, conference room, and kitchenette. Utilities are included in the lease, with high-speed wireless internet available for an additional monthly fee of $35. The property is zoned for Central Business with Downtown Overlay Zoning District and features the APN 858106373979. This is a rare opportunity to secure professional office space in the desirable Downtown Southern Pines submarket of Moore County.

• CAP approach

  CAP return

  Valuation

  6%

  $10,123,696

  6.5%

  $9,344,950

  7%

  $8,677,454

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,938,639

  Geo Method

  $8,978,916

• Alternative Use

  Use

  Valuation

  Residential

  $11,587,739

  Hospitality

  $10,614,306

  Educational

  $8,830,978

  Medical

  $9,134,689

  Retail

  $13,737,077

Location Insight

City

Southern Pines

County

Moore

State

North Carolina

Latitude

35.1726

Longitude

-79.3903

CBSA code

38240

CBSA name

PINEHURST-SOUTHERN PINES, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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