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1217 Davie Ave 3,966 SF 100% Leased Office Building Statesville, NC 28677 $1,200,000 ($302.57/SF) 7.25% Cap Rate

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EXECUTIVE SUMMARY

This STNL medical office is backed by a new 5 year lease with Iredell Health System. With it's late 2024 acquisition of Davis Regional Hospital and Davis Behavioral Health, Iredell has continued its steady growth now laying claim to 365 physicians over various specialties. Their commitment to the community makes them a dependable tenant with long term stability in Statesville. This medical office sits only .5 mile from Iredell Memorial Hospital's main campus making it a prime location for off campus specialty practices.
The building is leased under a triple net structure allowing for dependable passive income with little management involvement. With Iredell's reputation in the market, combined with the continued population and commercial growth into the secondary markets outside of the Charlotte metro, this asset provides investors a good opportunity for reliable ROI.

1217_Davie_Ave_Statesville_NC_Flyer

PROPERTY FACTS

Sale Type

Investment

Property Type

Office

Property Subtype

Medical

Building Size

3,966 SF

Building Class

Year Built

2004

Price

$1,200,000

Price Per SF

$302.57

Cap Rate

7.25%

NOI

$87,000

Percent Leased

100%

Building Height

1 Story

Typical Floor Size

3,966 SF

Building FAR

0.06

Lot Size

1.41 AC

Opportunity Zone

Yes

Zoning

MAJOR TENANTS

Health Care and Social Assistance
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Serving the healthcare needs of Iredell and surrounding counties since 1920, Davis Regional Medical Center is a 146-bed acute care hospital with a proud heritage of excellence in patient care. Relocated in 1984 to a new facility on Old Mocksville Road, their hospital offers many unique services. They are conveniently located off of I-40, Exit 154, in Statesville. Davis Regional Medical Center is a five-story facility consisting of approximately 200,000 square feet. The ground floor is devoted to all the support services for the hospital. A gift shop staffed and managed by hospital volunteers is located off the main lobby on the first floor. The hospital cafeteria, which is open to the public, is located adjacent to the gift shop.