13% cap Medical Office 201 Virginia Road Edenton NC
$ 911,000.00
- Property ID: 2530
- Date added: 08/18/21
- Post Updated: 2022-10-31 18:04:56
- Bathrooms: 7
- Floors: 1
- Status: Sold
- Area: 9622 sq ft
- Lot size: 1.88 acres
- Year built: 1958
Description
Income producing 9,622 sq ft medical bldg in front of the Hospital in Edenton. Vidant has leased the bldg since 2009, current rent $142,817/yr with $24,362/yr expenses making the NOI $118,455. Current price gives this property an incredible 13% cap rate! Lease has CPI index rent increase ability annually that was just exercised for the first time so the rent will increase by 17.2% to $167,381 in March 2021 (NOI $143,362) making it a 15.7% cap rate!! 15 exam rms, 7 restrms, multiple offices, conf rm, break rms, file rms, labs, and huge waiting & reception area. LL pays tax, ins, PM&E repairs. Expenses include $3561 HVAC repairs, $2037 plumbing repairs, $746 pest control, $10003 tax, $6172 insurance, $1808 flood insurance for a total of $24,362. 15 exam rooms, 7 restrooms, multiple offices, conference room, break room, labs, and huge waiting room and reception/bookkeeping area.
View on map / Neighborhood
Features
- City SEWER!
- Corner location
- Great location for Medical
- Hospital adjacent
- Handicapped access
- Freestanding Building
- Landscaping
- Private Parking
Agent
This style property is located in Edenton is currently and has been listed on The Rich Company. This property is listed at $ 911,000.00. It has 7 baths bathrooms, and is 9622 sq ft. The property was built in 1958 year.
