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840 W Salisbury St 131,536 SF Industrial Building Asheboro, NC 27203 $5,650,000 ($42.95/SF)
Investment Highlights
- Property Size: 9.78 Acres (Three Parcels)
- Currently 100% occupied; anticipated occupancy after sale-leaseback is 71%
- Year Built: 1935 (Improvements in 1957 & 1970)
Executive Summary
CBRE is pleased to offer for sale to qualified investors or owner/users 840 West Salisbury Street, an interconnected three-building campus adjacent to Interstates 73 & 74 in Asheboro, North Carolina. The property consists of a 131,536 square foot building on three parcels totaling approximately 9.78 acres in the Asheboro Commercial Business District submarket. Current zoning is I-2, Industrial Development District, per City of Asheboro records.
The Seller, Bossong Hosiery Mills (“Bossong”), will leaseback 92,768 square feet for a ten (10) year term at a market lease rate on a Triple Net (NNN) basis. The Buyer will be left with a very functional, fully air-conditioned 38,768 square foot warehouse to lease to a third-party or utilize for its own purposes. The vacant area was a later warehouse addition and offers a natural separation from the 92,768 production area that Bossong will retain. Bossong has a stable, 100 year operating history and is a fixture in the Asheboro community.
Situated in Randolph County, the geographic heart of North Carolina, 840 West Salisbury Street enjoys an enviable location on the I-73/74 corridor with ease of access to the Greensboro, Charlotte and Raleigh markets.
The Seller, Bossong Hosiery Mills (“Bossong”), will leaseback 92,768 square feet for a ten (10) year term at a market lease rate on a Triple Net (NNN) basis. The Buyer will be left with a very functional, fully air-conditioned 38,768 square foot warehouse to lease to a third-party or utilize for its own purposes. The vacant area was a later warehouse addition and offers a natural separation from the 92,768 production area that Bossong will retain. Bossong has a stable, 100 year operating history and is a fixture in the Asheboro community.
Situated in Randolph County, the geographic heart of North Carolina, 840 West Salisbury Street enjoys an enviable location on the I-73/74 corridor with ease of access to the Greensboro, Charlotte and Raleigh markets.
Property Facts
| Price | $5,650,000 | Rentable Building Area | 131,536 SF |
| Price Per SF | $42.95 | No. Stories | 1 |
| Sale Type | Investment | Year Built/Renovated | 1935/1970 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | Parking Ratio | 1.52/1,000 SF |
| Building Class | C | No. Dock-High Doors/Loading | 3 |
| Lot Size | 9.78 AC | Cross Streets | I-73 |
| Zoning | I2A GENERA - Industrial | ||
| Price | $5,650,000 |
| Price Per SF | $42.95 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 9.78 AC |
| Rentable Building Area | 131,536 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1935/1970 |
| Tenancy | Single |
| Parking Ratio | 1.52/1,000 SF |
| No. Dock-High Doors/Loading | 3 |
| Cross Streets | I-73 |
| Zoning | I2A GENERA - Industrial |
Amenities
- Signage
- Skylights
Property Taxes
| Parcel Number | 7751-44-5043 | Improvements Assessment | $1,133,240 |
| Land Assessment | $640,850 | Total Assessment | $1,774,090 |
Property Taxes
Parcel Number
7751-44-5043
Land Assessment
$640,850
Improvements Assessment
$1,133,240
Total Assessment
$1,774,090
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840 W Salisbury St
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