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722 E Union St 6,817 SF Office Building Morganton, NC 28655 $1,210,000 ($177.50/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Approximately 55 parking spaces
- 2.23 acres
EXECUTIVE SUMMARY
Fully leased investment property in Morganton, NC. The property consists of 2.23+/- acres less than one half mile from downtown Morganton Historic District. the shape of the parcel is a "U" shape with a 25,000+/- SF section that could potentially be subdivided for either a residential or commercial use (pending local approvals).
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Office
Building Size
6,817 SF
Building Class
B
Year Built
1981
Price
$1,210,000
Price Per SF
$177.50
Cap Rate
6.50%
NOI
$78,650
Tenancy
Single
Building Height
1 Story
Typical Floor Size
6,817 SF
Building FAR
0.07
Lot Size
2.28 AC
Zoning
HID - High Intensity District
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PROPERTY TAXES
| Parcel Number | 6606 | Improvements Assessment | $537,459 |
| Land Assessment | $120,759 | Total Assessment | $658,218 |
PROPERTY TAXES
Parcel Number
6606
Land Assessment
$120,759
Improvements Assessment
$537,459
Total Assessment
$658,218
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722 E Union St
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