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Property profile & analytics
OFF-MARKET Estimated value $1,010,000
Medical Office Space

605 Grv St Salisbury, NC 28144-3233

8,205 SF 0.38 ac lot Built 1996
Individually Owned 2-yr Hold Free & Clear
Property ID
US53-1718160
Property summary
AI-generated overview

This exceptional two-story medical office building presents a unique investment opportunity in Salisbury, NC. Strategically located in the city's thriving medical corridor, just one block from Novant Health Rowan Medical Center, this property boasts unparalleled visibility and accessibility. The building comprises two distinct suites, each offering complete independence and functionality. The upper suite encompasses 4,688 square feet, while the lower suite provides 4,313 square feet of space. Each suite features its own private entrance, ample parking, a dedicated reception area, multiple offices, and several exam rooms. Furthermore, the suites are equipped with separate utility meters, providing efficient cost management for individual occupants. This configuration makes the building perfect for a single large medical practice seeking expansive space or for two separate practices looking for a collaborative yet independent environment. The property's prime location, coupled with its versatile layout and modern amenities, makes it an attractive proposition for a wide range of medical users, from orthopedics to urgent care facilities. The asking price is $1,500,000. This is a rare opportunity to acquire a well-established and highly visible medical office building in a rapidly growing area. Don't miss out on this exceptional investment.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1996
Total area 8,205 SF
Lot 0.38 ac (16,379 SF)
Zoning code B1
APN 006 028
UPID US53-1718160
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Edmund P. Schumacher, PT Physician
  • Ethan Wiesler Physician
  • George Adam Flowers Physician
  • Edman Schumacher Physician
  • Boyd Watts, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.09M
Blend (final) Blend
$1.01M
Owner & transaction history
Wake Forest University Health Scien · 2 yrs held
Wake Forest University Health Scien
since 2024
4 recorded transactions
2024
Price N/A
2022
Price N/A
2022
$2.5M
1969
Price N/A
Zoning & alternative use
B1 · Salisbury, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.2M +3.4%
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