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507 W Innes St 22,021 SF 91% Leased Office Building Salisbury, NC 28144 $2,750,000 ($124.88/SF) 8.54% Cap Rate
Investment Highlights
- Includes a 19,424 SF professional hub and a rare 2,525 SF stand-alone annex building ideal for private-identity users or owner-occupants.
- 100% TICAM recovery structure ensures ownership is shielded from rising insurance and property tax costs.
- Anchored by a Charter School and medical users, providing "sticky" income that is insulated from remote-work volatility.
- Prominent monument signage on W Innes St provides high-identity branding for tenants on Salisbury's most traveled thoroughfare.
Executive Summary
Recent Capital Improvements
The asset underwent significant interior modernization in 2021-2022 performed by Fourth Elm Construction. Upgrades include high-end LVT flooring throughout, architectural acoustic "cloud" ceiling systems, modern LED lighting packages, and premium millwork. These high-quality finishes position the building at the top of the submarket, attracting "essential service" tenants with high retention requirements.
Property Facts
Amenities
- 24 Hour Access
- Controlled Access
- Signage
- Monument Signage
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- NC Downtowner
- Transportation and Warehousing
-
99,999 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| NC Downtowner | Transportation and Warehousing | 99,999 SF | - | - |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Looking for a professional office that’s the right size and ready today? Suite 235 offers 1,393 SF with a smart, efficient layout designed for productivity. Located on the second floor with elevator access, this suite includes: -Welcoming lobby/reception area -Private offices for focus and client meetings -Immediate availability – start operating right away Need more room? Suite 235 can be combined with Suite 230 for a total of 2,333 SF, giving your business flexibility to expand without relocating. This professional office building offers on-site parking, a polished setting, and a location just steps from Salisbury’s downtown restaurants, courthouse, and business core.
Position your business in one of Salisbury’s most well-maintained and accessible professional buildings. Suite 250 offers 550 SF of clean, efficient office space located on the second floor with convenient elevator access. Perfect for solo practitioners, remote teams, or satellite offices, this suite provides a quiet and professional environment in a central location near Downtown Salisbury.space has new floors and paint and is ready to move in!
Located at 507 West Innes Street, this 1,167 SF professional office suite offers an exceptional opportunity for businesses seeking high visibility and a turnkey layout. The interior features a sophisticated foyer and reception area anchored by a custom stone-accent wall and built-in desk, perfect for a welcoming client experience. The versatile floor plan includes five private offices, including a spacious executive suite and a specialized rear office equipped with extensive built-in workstations and integrated overhead lighting. Additionally, the suite provides a dedicated kitchen and workroom area with ample cabinetry, ensuring staff efficiency and convenience. With prominent monument signage on a high-traffic corridor and a competitive rate of $13.00/SF plus $3.50/SF TICAM, this suite is ideally positioned for a professional firm looking to establish a presence in Salisbury.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 235 | 1,393 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste 250 | 549 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste 280 | 1,167 SF | Office | Full Build-Out | Mar 2026 |
2nd Fl-Ste 235
| Size |
| 1,393 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 250
| Size |
| 549 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 280
| Size |
| 1,167 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Mar 2026 |
2nd Fl-Ste 235
| Size | 1,393 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Looking for a professional office that’s the right size and ready today? Suite 235 offers 1,393 SF with a smart, efficient layout designed for productivity. Located on the second floor with elevator access, this suite includes: -Welcoming lobby/reception area -Private offices for focus and client meetings -Immediate availability – start operating right away Need more room? Suite 235 can be combined with Suite 230 for a total of 2,333 SF, giving your business flexibility to expand without relocating. This professional office building offers on-site parking, a polished setting, and a location just steps from Salisbury’s downtown restaurants, courthouse, and business core.
2nd Fl-Ste 250
| Size | 549 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
Position your business in one of Salisbury’s most well-maintained and accessible professional buildings. Suite 250 offers 550 SF of clean, efficient office space located on the second floor with convenient elevator access. Perfect for solo practitioners, remote teams, or satellite offices, this suite provides a quiet and professional environment in a central location near Downtown Salisbury.space has new floors and paint and is ready to move in!
2nd Fl-Ste 280
| Size | 1,167 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Mar 2026 |
Located at 507 West Innes Street, this 1,167 SF professional office suite offers an exceptional opportunity for businesses seeking high visibility and a turnkey layout. The interior features a sophisticated foyer and reception area anchored by a custom stone-accent wall and built-in desk, perfect for a welcoming client experience. The versatile floor plan includes five private offices, including a spacious executive suite and a specialized rear office equipped with extensive built-in workstations and integrated overhead lighting. Additionally, the suite provides a dedicated kitchen and workroom area with ample cabinetry, ensuring staff efficiency and convenience. With prominent monument signage on a high-traffic corridor and a competitive rate of $13.00/SF plus $3.50/SF TICAM, this suite is ideally positioned for a professional firm looking to establish a presence in Salisbury.
Property Taxes
| Parcel Number | 010-461 | Improvements Assessment | $876,715 |
| Land Assessment | $631,188 | Total Assessment | $1,507,903 |
Property Taxes
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507 W Innes St
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