315 Burke Dr - Light Manufacturing FOR SALE


Morganton, NC 28655
$1,550,000 USD
804-754-5462
315 Burke Dr, Morganton, NC for Sale
$1,550,000 USD
Light Manufacturing - FOR SALE
1/18
null | 7.27% Cap Rate

315 Burke Dr
Morganton, NC 28655


OVERVIEW

Current lease term runs through June 2028 with 3% annual contractual rent escalations and a renewal option extending through June 2031 Tenant occupies 100% of the building, minimizing rollover risk and operational complexity Functional layout includes approximately 4,224 SF of office space and 8,664 SF of climate controlled warehouse/light manufacturing space Property features 3 drive in roll up doors and 3 phase power supporting a wide range of industrial and service users Immediate access to U.S. Highway 70 with connectivity to the Hickory–Lenoir–Morganton MSA and regional industrial corridors Current NOI approximately $112,723 Asking Price: $1,550,000 Approximately $120.27/SF Attractive opportunity for investors seeking stable in place cash flow with future upside through contractual rent growth and excess land utilization

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$120 USD /SF

CAP RATE

7.27%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

3

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.99

LAND SF

173,804

ZONING

EID

APN/PARCEL ID

31861

ASK ABOUT THIS PROPERTY

Jake ViveretteBryant Capital AdvisorsMore Info
804-754-5462

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Jake ViveretteBryant Capital AdvisorsMore Info
804-754-5462

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.