2033 Corporate Drive (9.39% Cap)

Office for Sale
Also listed as Industrial
Catylist Listing ID: 30193977
Property Subtypes: Flex Space, Office Building, General
Building Size (RSF): 22,880 SF
Gross Land Area: 2.19 Acres
Sale Price: $2,625,000
Unit Price: $114.73 PSF
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class B
Usable Size (USF): 22,880 SF
Sale Terms: Cash to Seller
Cap Rate: 9.39%
Average Occupancy Rate: 75
Last Updated: 9/6/2018

Overview / Comments

9.39% Cap - Updated September 2018.

Located in the Northchase Industrial Park, this two-story +/-22,880 SF flex-office building is 75% leased with two of the four suites being occupied. One of the two vacant suites (totaling +/-5,880 Sq. Ft.) is a cold, dark shell while the other was recently upfitted summer 2018.

The building has an elevator, dedicated fiber optic line, 3-phase power, ample parking & one dock high with double doors.

Just off of N. College & I-40, behind Laney High School, make this an attractive spot for office & industrial.

DIRECTIONS: From N College, travel past Laney High School, and turn right onto Northchase Parkway, then right on Corporate Drive. Building will be on your right.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $9,677 (Annual)
Gross Operating Income $319,494 (Annual)
Net Operating Income $246,478 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Tax ID/APN: 324013.12.2652.000,
Zoning: NEW HANOVER COUNTY: PD
Site Description: IN CITY LIMITS: No
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 11,440 SF
Year Built: 2008
Year Renovated: 2018
Construction/Siding: Brick
Parking Type: Surface
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Heat Pump
Interior Description: Min Divisible USF: 22880
Zoning Description: PD
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,972 28,289 79,417
Median Age: 33.52 35.71 36.06
Households: 1,236 11,372 34,286
The information presented herein is provided as is, without warranty of any kind. Neither Cape Fear REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.