1141 Road Street
1141 Road Street Elizabeth City, North Carolina 27909 United States

$2,400,000
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Fully leased Medical/Office Park with 8 tenants on modified gross leases. Current income for 2022 is $357,857.40 with projected expenses of $97,044.46 or less giving a projected NOI of $260,812.94 making this a 10.86% cap rate investment....
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Albemarle Area Association of Realtors MLS

Listing Courtesy of Rich Company
$2,400,000
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32,066 Sq Ft.
Interior
25 Acres
Exterior
Commercial
Property type
1989
Year Built
108213
Web Id
108213
MLS ID
Pasquotank County Schools
School District
38
days ago

About 1141 Road Street

Fully leased Medical/Office Park with 8 tenants on modified gross leases. Current income for 2022 is $357,857.40 with projected expenses of $97,044.46 or less giving a projected NOI of $260,812.94 making this a 10.86% cap rate investment. Approximately 3 acres of high land behind the Bank included with the sale for future development potential. Additional acreage behind the buildings is mostly swampland. Actual 2021 NOI was $194,017.25 due to having $30k less in rents with vacancies, $36k upfitting those vacancies, $12k in Real Estate commissions, and paying electric bills on vacancies.

Listing courtesy of Alex Rich, Rich Company

Property Information

Cooling
Central Air
Heating
Air to Air, Electric
Features
Security Lighting, Handicapped Access, Individual Water Meters, Individual Electric Meters
Access
US Highway
Water Front Description
None
Year Built
1989
Exterior Features
Frame
1141 Road Street, Elizabeth City, North Carolina 27909 United States is a Commercial for Sale for $2,400,000 USD. Was built in 1989, has 32,066 Sq.Ft. on a lot of 25 Acres and it's composed from Bedrooms, full baths

 

Listing Courtesy of Rich Company
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Albemarle Area Association of Realtors MLS

Listing Courtesy of Rich Company
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