Monroe Office Building For
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355 Venus Street, Monroe, NC 28112
6,600 SF office building 100% leased to Atrium Health.
Property Size6,600 SF
Price / SF$263.60
Days on Market97
Property Features for 355 Venus Street
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Office
Occupancy
100%
Lease Type
Gross
Net Operating Income
$121,782
Building Details
Year Built
1996
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Artha associates
Listed By:
John Box · License #NC 251697
Source:
Crexi
Added: May 26
Changed: Aug 17
Last Checked: Aug 28 at 9:00AM
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 Artha associates
Investment Insights
Based on property information with market context.
Located in Monroe, North Carolina, 355 Venus Street is a 6,600-square-foot, single-story office building. The property is situated in an established medical office park serving the Charlotte MSA, directly across from Atrium Health Union, a 182-bed hospital providing comprehensive emergency services and a broad range of specialty medical care. The asset is 100% leased to Atrium Health on a single-tenant basis, operating under a new 5-year renewal with a lease expiration of September 30, 2031.
Key Highlights
- 100% leased to Atrium Health, providing stable, long‑term cash flow
- New 5‑year lease renewal, expiring September 30, 2031
- Strategically located directly across from Atrium Health Union, a 182‑bed hospital
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,990
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,059,800
$2.1M
Cap Rate 7%
$1,471,286
$1.5M
Cap Rate 9%
$1,144,333
$1.1M
Market Conditions
NOI Build-Up for 6,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$171.9K $26.04/SF
− Vacancy
−$34.5K −$5.23/SF
EGI
$137.3K $20.81/SF
− OpEx
−$34.3K −$5.20/SF
NOI
$103.0K $15.60/SF
Area
Union County, NC
Vacancy
20.10%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,059,800
Cap Rate 7%
$1,471,286
Cap Rate 9%
$1,144,333
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $102,990 @ 7.0% cap · market cap 5.92%
Second Best
Healthcare Medical
$1.31M
$1.15M – $1.53M
NOI $91,923 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,703 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28112, NC
27,126
Population
11,021
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
85%
High-School Grad
132.1 sq mi
ZIP Area
205
Density / Sq Mi
$74,853
Median Household Income
$42,046
Median Earnings
$1,124
Median Rent
$272,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 6,600 SF office building 100% leased to Atrium Health.
Where is this medical office space located?
The property is located at 355 Venus Street Monroe, NC.
What is the asking price?
The asking price for this property is $1,739,743.
What are key features of this property?
This property features: 100% leased to Atrium Health, providing stable, long‑term cash flow; New 5‑year lease renewal, expiring September 30, 2031; Strategically located directly across from Atrium Health Union, a 182‑bed hospital
