315 Cassell St Winston-Salem, NC 27107

This exceptional 114,573-square-foot industrial distribution/flex warehouse, located at 315 Cassell Street in Winston-Salem, North Carolina, presents a compelling value-add investment opportunity. The property sits on a 4.15-acre lot and boasts a prime location, offering easy access to major interstates I-40 and I-285, with daily traffic counts exceeding 57,000 and 98,500 vehicles respectively. Currently 100% occupied by South Atlantic Packaging Corporation under an absolute NNN lease with a corporate guarantee, the lease expires July 31, 2024. The building, constructed in 1970 and renovated in 2023, features 10 dock-high doors, a 16-foot ceiling height, and is zoned for light industrial use. The current asking price is $7,900,000, representing a current cap rate of 5.47% and a pro-forma cap rate of 9.06%. The existing NOI is $432,180, with a pro-forma NOI projected at $716,081. Significant upside potential exists due to below-market rents (approximately 30% below market), offering immediate income while repositioning the asset for long-term growth. The property's strategic location within the strong Southeast Forsyth market, coupled with its recent renovations and substantial rent growth potential, makes this a highly attractive investment prospect. The building's size and location are particularly advantageous, given the limited inventory of comparable properties in the area. Rent bumps are set at 5%.