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320 W Jake Alexander Blvd 11,370 SF 100% Leased Office Building Salisbury, NC 28147 $3,734,620 ($328.46/SF) 7% Cap Rate
Investment Highlights
- 41 miles from Charlotte in Rowan County’s prime corridor, Jake Alexander Blvd.
- Dense Medical Ecosystem — Built-in referral network
- National Tenants — Institutional-Grade credit profile
- Built-in rent growth with contractual escalations
Executive Summary
Salisbury sits at the heart of the I-85 Charlotte–Greensboro corridor with nearly 4 million residents within 60 miles. W. Jake Alexander Blvd carries 36,500 vehicles daily, connecting the property to the region’s primary commercial spine.
Commonwealth Pain & Spine (39+ locations, expanding to be the national leader in chronic pain by 2030) and Select Physical Therapy (1,900+ centers, NYSE: SEM parent) provide the credit quality institutional investors demand.
The property sits within a thriving medical hub alongside Novant Health Piedmont Neurosurgery & Spine and Atrium Health Urgent Care. Complementary specialties generate natural patient referral flow between tenants and nearby providers.
Commonwealth escalations of 2.4% annually through the base term and 2.5% through options, plus Select PT’s 2.0% annual increases, compound NOI growth throughout the hold period with no negotiation required.
Commonwealth Pain & Spine (39+ locations, expanding to be the national leader in chronic pain by 2030) and Select Physical Therapy (1,900+ centers, NYSE: SEM parent) provide the credit quality institutional investors demand.
The property sits within a thriving medical hub alongside Novant Health Piedmont Neurosurgery & Spine and Atrium Health Urgent Care. Complementary specialties generate natural patient referral flow between tenants and nearby providers.
Commonwealth escalations of 2.4% annually through the base term and 2.5% through options, plus Select PT’s 2.0% annual increases, compound NOI growth throughout the hold period with no negotiation required.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
11,370 SF
Building Class
B
Year Built
2008
Price
$3,734,620
Price Per SF
$328.46
Cap Rate
7%
NOI
$261,423
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
11,370 SF
Building FAR
0.14
Lot Size
1.90 AC
Zoning
Salisbury City
Parking
53 Spaces (4.66 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 061-217 | Improvements Assessment | $0 |
| Land Assessment | $1 | Total Assessment | $1 |
Property Taxes
Parcel Number
061-217
Land Assessment
$1
Improvements Assessment
$0
Total Assessment
$1
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320 W Jake Alexander Blvd
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