Leased Medical Office
701 E Roosevelt Blvd Monroe, NC 28112
701 E Roosevelt Blvd, Monroe, NC, 28112
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For Sale
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Three medical office suites total 6,524 SF, recently upfitted and renovated in 2024, with two new five-year leases.
Property Size6,524 SF
Price / SF$229.92
Days on Market337
Property Features for 701 E Roosevelt Blvd
General Information
- Standard status
- Active
- Size
- 6,524 SF
- Property subtype
- Office
Building Details
- Year Built
- 1989
Listing agency
Marcus & Millichap - Charlotte Uptown
Listed by
Tim Gregg · License #NC 327779
Source
Crexi
Added: Aug 19, 2025 Updated: Jul 20 at 11:46PM Checked: Jul 20 at 11:46PM
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 Marcus & Millichap - Charlotte Uptown
Investment Insights
Based on property information with market context.
This medical office property features three suites totaling 6,524 square feet. The building was upfitted and renovated in 2024, and the current leasing includes two brand new five-year leases with 3% yearly increases and multiple extension options, including one with a corporate guarantee.
The property is located in an existing medical park and sits directly across Hwy 74 from Atrium Hospital. The asset is also identified as being within an Opportunity Zone.
Additional leasing includes a third suite that provides a value-add opportunity, with the potential to adjust rent levels and increase cash flow within the next twelve months.
The property is located in an existing medical park and sits directly across Hwy 74 from Atrium Hospital. The asset is also identified as being within an Opportunity Zone.
Additional leasing includes a third suite that provides a value-add opportunity, with the potential to adjust rent levels and increase cash flow within the next twelve months.
Key Highlights
- Medical office with 3 suites totaling 6,524 SF, recently upfitted and renovated in 2024
- Two brand‑new 5‑year leases with 3% yearly increases and multiple extension options, including one corporate guarantee
- Third suite offers value‑add potential to raise rent to market rent within 12 months to increase cash flow
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $169.9k | $26.04 |
| − Vacancy | −$34.1k | −$5.23 |
| EGI | $135.7k | $20.81 |
| − OpEx | −$33.9k | −$5.20 |
| NOI | $101.8k | $15.60 |
6,524 SF · lease $26.04/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.70M
NOI $101,804 @ 7.0% cap · market cap 6.79%
Second Best
Healthcare Medical
$1.30M
$1.14M – $1.51M
NOI $90,864 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,059 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Uyiekpen Igbinadolor
Dental Office
Anne M. Hudson, ...
Physician
Anson Union Prosthetic ...
Orthotics & Prosthetics Service
Page Christy L
Physician
Dr. Brian J. ...
Physician
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FAQs
What type of property is this?
Medical Office Space - Three medical office suites total 6,524 SF, recently upfitted and renovated in 2024, with two new five-year leases.
Where is this medical office space located?
The property is located at 701 E Roosevelt Blvd Monroe, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Medical office with 3 suites totaling 6,524 SF, recently upfitted and renovated in 2024; Two brand‑new 5‑year leases with 3% yearly increases and multiple extension options, including one corporate guarantee; Third suite offers value‑add potential to raise rent to market rent within 12 months to increase cash flow
