Medical Office Investment
For Sale
Contact for pricing
320 Jake Alexander Blvd W, Salisbury, NC 28147
For-sale medical office property with institutional tenants Commonwealth Pain & Spine and Select Physical Therapy.
Property Size10,871 SF
Price / SF$343.54
Days on Market203
Property Features for 320 Jake Alexander Blvd W
General Information
Standard status
Active
Size
10,871 SF
Property subtype
OFFICE
Site & Location
Traffic Count
36,500 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
MPV Properties
Listed By:
Mark Newell · License #111045
(704) 248-2100
Source:
Moodyscre
Added: Mar 18
Changed: Sep 13
Last Checked: Oct 5 at 7:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MPV Properties
Investment Insights
Based on property information with market context.
For sale medical office property totaling 10,871 square feet, situated in the I-85 Charlotte-Greensboro corridor. The building is leased to Commonwealth Pain & Spine and Select Physical Therapy, each described in the remarks as having extensive multi-location footprints.
The property is located on W. Jake Alexander Blvd, which is cited in the remarks as carrying 36,500 vehicles daily. The surrounding area is described as a medical hub, including nearby providers such as Novant Health Piedmont Neurosurgery & Spine and Atrium Health Urgent Care.
Commonwealth is described as having contractual escalations of 2.4% annually through the base term and 2.5% through options, with Select PT described as having 2.0% annual increases. The remarks also indicate these increases compound over the hold period.
The property is located on W. Jake Alexander Blvd, which is cited in the remarks as carrying 36,500 vehicles daily. The surrounding area is described as a medical hub, including nearby providers such as Novant Health Piedmont Neurosurgery & Spine and Atrium Health Urgent Care.
Commonwealth is described as having contractual escalations of 2.4% annually through the base term and 2.5% through options, with Select PT described as having 2.0% annual increases. The remarks also indicate these increases compound over the hold period.
Key Highlights
- Medical office property leased to institutional tenants Commonwealth Pain & Spine and Select Physical Therapy (1,900+ centers).
- Located in Salisbury along W. Jake Alexander Blvd, carrying 36,500 vehicles daily, within the I‑85 Charlotte–Greensboro corridor.
- Tenant base includes 39+ Commonwealth Pain & Spine locations, with expansion noted.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,655
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,813,100
$3.8M
Cap Rate 7%
$2,723,643
$2.7M
Cap Rate 9%
$2,118,389
$2.1M
Market Conditions
NOI Build-Up for 10,871 SF
Gross rent
$283.1K $26.04/SF
− Vacancy
−$28.9K −$2.66/SF
EGI
$254.2K $23.38/SF
− OpEx
−$63.6K −$5.85/SF
NOI
$190.7K $17.54/SF
Area
Rowan County, NC
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,813,100
Cap Rate 7%
$2,723,643
Cap Rate 9%
$2,118,389
Alternative Uses
Best Use
Office B
$2.72M
$2.38M – $3.18M
NOI $190,655 @ 7.0% cap · market cap 5.11%
Second Best
Healthcare Medical
$2.34M
$2.05M – $2.73M
NOI $164,050 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,510 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
36,500 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28147, NC
26,618
Population
10,095
Households
2.6
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
77.6 sq mi
ZIP Area
343
Density / Sq Mi
$59,770
Median Household Income
$36,118
Median Earnings
$1,036
Median Rent
$241,600
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - For-sale medical office property with institutional tenants Commonwealth Pain & Spine and Select Physical Therapy.
Where is this medical office space located?
The property is located at 320 Jake Alexander Blvd W Salisbury, NC.
What is the asking price?
The asking price for this property is $3,734,620.
What are key features of this property?
This property features: Medical office property leased to institutional tenants Commonwealth Pain & Spine and Select Physical Therapy (1,900+ centers).; Located in Salisbury along W. Jake Alexander Blvd, carrying 36,500 vehicles daily, within the I‑85 Charlotte–Greensboro corridor.; Tenant base includes 39+ Commonwealth Pain & Spine locations, with expansion noted.
