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703 Hermitage Rd
Burlington, NC 27215
Office Property For Sale
INVESTMENT HIGHLIGHTS
- Three-suite medical office layout ideal for multi-tenant use
- 18 on-site parking spaces support patient and staff access
- Strong candidate for renovation or redevelopment
- Historical dental occupancy with one tenant still in practice
- Priced significantly below replacement cost at $475,000
- Located in a growing Burlington medical and residential corridor
EXECUTIVE SUMMARY
703 Hermitage Rd presents a compelling opportunity for investors or owner-users seeking a well-located medical office asset in Burlington, NC. Built in 1967 and historically used for dental practices, the ±3,454 SF building is configured into three suites of approximately 1,100 SF each, offering flexible occupancy options for healthcare, wellness, or professional services.
Currently, one tenant remains in limited practice, contributing $1,440 in monthly gross rent plus utilities. With two suites available and the property priced at just $475,000, this asset is positioned well below replacement cost, making it an attractive candidate for value-add investors or medical professionals looking to establish or expand their footprint.
The site includes 18 dedicated parking spaces, a critical amenity for patient access and staff convenience. Its location in Burlington offers proximity to regional healthcare networks, residential neighborhoods, and commercial corridors, supporting both visibility and accessibility. Whether modernized for continued medical use or repositioned for broader office applications, the building’s layout and pricing provide a strong foundation for redevelopment.
This property is represented by Bob Lewis, Broker & Shareholder, and Howard Hawks, Broker, both with NAI Piedmont Triad. [Hermitage...Sale Flyer]
Currently, one tenant remains in limited practice, contributing $1,440 in monthly gross rent plus utilities. With two suites available and the property priced at just $475,000, this asset is positioned well below replacement cost, making it an attractive candidate for value-add investors or medical professionals looking to establish or expand their footprint.
The site includes 18 dedicated parking spaces, a critical amenity for patient access and staff convenience. Its location in Burlington offers proximity to regional healthcare networks, residential neighborhoods, and commercial corridors, supporting both visibility and accessibility. Whether modernized for continued medical use or repositioned for broader office applications, the building’s layout and pricing provide a strong foundation for redevelopment.
This property is represented by Bob Lewis, Broker & Shareholder, and Howard Hawks, Broker, both with NAI Piedmont Triad. [Hermitage...Sale Flyer]
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
3,454 SF
Building Class
C
Year Built
1967
Price
$475,000
Price Per SF
$137.52
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
3,454 SF
Building FAR
0.18
Lot Size
0.44 AC
Zoning
R OI - Office
Parking
20 Spaces (5.79 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 123520 | Improvements Assessment | $117,372 |
| Land Assessment | $41,675 | Total Assessment | $159,047 |
PROPERTY TAXES
Parcel Number
123520
Land Assessment
$41,675
Improvements Assessment
$117,372
Total Assessment
$159,047
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