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Office Flex Building For Sale - High VPD 1617 W Roosevelt Blvd 10,000 SF 100% Leased Office Building Monroe, NC 28110 $1,300,000 ($130/SF)
Investment Highlights
- Great investment and value-add opportunity
- The roof was replaced in 2021
- The current NOI is $87,780 and the Pro Forma NOI is $101,700
- The property has fantastic signage and visibility on W. Roosevelt Blvd with ±54,000 VPD on HWY 74
- The building is currently 94% leased, featuring 11 total suites with 10 leased
Executive Summary
This ±10,000 SF office/flex building presents a strong investment and value-add opportunity along the highly trafficked W. Roosevelt Blvd corridor. With outstanding signage and visibility on HWY 74, the property benefits from approximately 54,000 vehicles per day, offering excellent exposure for tenants and long-term positioning for investors.
The building is currently 94% leased, featuring 11 total suites with 10 occupied, providing immediate and stable cash flow. The current NOI is $87,780, with a Pro Forma NOI of $101,700, offering upside potential through lease-up and operational optimization.
Additional highlights include a roof replacement completed in 2021, reducing near-term capital expenditure concerns. This well-positioned asset combines strong in-place income, value-add potential, and prime visibility in a high-demand commercial corridor.
The building is currently 94% leased, featuring 11 total suites with 10 occupied, providing immediate and stable cash flow. The current NOI is $87,780, with a Pro Forma NOI of $101,700, offering upside potential through lease-up and operational optimization.
Additional highlights include a roof replacement completed in 2021, reducing near-term capital expenditure concerns. This well-positioned asset combines strong in-place income, value-add potential, and prime visibility in a high-demand commercial corridor.
Financial Summary (Pro Forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$101,700
|
$10.17
|
Financial Summary (Pro Forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $101,700 |
| Annual Per SF | $10.17 |
Property Facts
Sale Type
Investment
Property Type
Building Size
10,000 SF
Building Class
C
Year Built
1970
Price
$1,300,000
Price Per SF
$130
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
10,000 SF
Building FAR
0.23
Lot Size
0.99 AC
Zoning
CAO-C - Proposed use: Commercial
Parking
55 Spaces (7.83 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Day Care
- Dry Cleaner
- Signage
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Property Taxes
| Parcel Numbers | Improvements Assessment | $0 (2025) | |
| Land Assessment | $0 (2025) | Total Assessment | $1,042,400 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$1,042,400 (2025)
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Office Flex Building For Sale - High VPD | 1617 W Roosevelt Blvd
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