512 Klumac Rd - Retail FOR SALE


Salisbury, NC 28144
$1,915,000 USD
704-502-0388
512 Klumac Rd, Salisbury, NC for Sale
$1,915,000 USD
Retail - FOR SALE
1/32
null | 5.19% Cap Rate

512 Klumac Rd
Salisbury, NC 28144


HIGHLIGHTS

  • 100% occupied office park / retail center in Salisbury
  • 4.35-acre site is located just 0.7 miles from Interstate I-85 with 394 feet of frontage on Klumac Rd
  • All Brick constructed in 1997
  • Below-market rents provide substantial value-added opportunities for new ownership
  • Part of a family-owned portfolio with multiple income-producing properties available for purchase in Salisbury
  • August 2024 appraisal available for review

OVERVIEW

A rare opportunity to purchase a 100% occupied office park / retail center in Salisbury. The 4.35-acre site is located just 0.7 miles from Interstate I-85 with 394 feet of frontage on Klumac Rd. Eleven total units totaling 12,304 square feet are divided between (2) one-story brick buildings that we constructed in 1997. Zoned CMX with an array of potential uses. Mostly long-standing office, retail & medical tenants on flexible short-term leases. Current below-market rents provide substantial value-added opportunities for new ownership. Paved asphalt parking lot with 66 spaces. HVAC and roofing improvements. Currently $135,600 in Gross Annual Income. This is part of a family-owned portfolio with multiple income-producing properties available for purchase in Salisbury. August 2024 appraisal available for review in the Offering Memorandum. Partially located in a floodplain with no known flooding to ever affect the buildings.

FOR SALE DETAILS

PRICE

$1,915,000 USD

PRICE/SF

$156 USD /SF

CAP RATE

5.19%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Klumac Square Retail & Office Center

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

66

LAND DETAILS

LAND ACRES

4.47 AC

LAND SF

194,713 SF

ZONING

CMX (Commercial)

APN/PARCEL ID

017-187

ASK ABOUT THIS PROPERTY

Jason DolphModern BrokerageMore Info
704-502-0388

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

Jason DolphModern BrokerageMore Info
704-502-0388

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