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    640 Jake Alexander Blvd Salisbury, NC 28147

    For Sale
    $6,519,000

    Corporate-guaranteed medical investment.

    Property size:
    10,908 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fee-simple ownership (land and building) of a 10,908 square-foot, single-tenant retail and lab storefront in Salisbury, NC. Located at 640 Jake Alexander Blvd W, this property boasts a prime location on a heavily trafficked intersection (42,500 vehicles per day), benefiting from excellent visibility and multiple access points. The 1.75-acre lot includes 70 parking spaces. The building, constructed in 1997 and extensively renovated in 2021, is currently 100% occupied by ImmunoTek Bio Centers, LLC, under a 15-year NNN lease with four 5-year renewal options. The lease includes scheduled 10% rent increases, ensuring consistent NOI growth and inflation protection. The tenant, a major independent plasma collection center operator with 80+ locations, provides a strong, corporate-guaranteed lease. This low-management investment benefits from a strong demographic profile, including a dense residential population, nearby universities, and numerous apartment complexes within a two-mile radius. The 5-mile trade area boasts over 59,700 residents and 37,300 employees, with an average household income exceeding $85,796. The property's zoning is HB - Highway Business. The asking price is $6,519,000, representing a 7.00% cap rate and a current NOI of $456,304. This is an ideal investment for passive investors seeking a stable, long-term return. The property's APN is 061A190.

    Property Features for 640 Jake Alexander Blvd

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,908 SF
    Lot Size
    76,230 SF

    Building Details

    Year Built/Renovated
    1997/2021
    Buildings
    1
    Stories
    1

    HighLights

    • 11‑year lease term remaining with extension options and scheduled rent increases; corporate guarantee.
    • Triple‑net (NNN) lease; fee simple ownership with minimal landlord responsibilities.
    • High‑traffic location at a major intersection (42,500 vehicles per day) in a strong retail corridor, serving a direct consumer base including over 600 apartment units within two miles.
    • Strong demographics within a five‑mile trade area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mary A. Morgan, PharmD Pharmacy higi Health Consultant Ramona G. Brown, ... Pharmacy Mary Prince, Crna Pharmacy ImmunoTek Bio Centers Blood Donation Center

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Salisbury
    County
    Rowan
    State
    North Carolina
    Longitude
    -80.4983852
    Latitude
    35.6639503

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    FAQs

    What type of property is this?
    Individual retail property - Corporate-guaranteed medical investment.
    Where is this individual retail property located?
    The property is located at 640 Jake Alexander Blvd Salisbury, NC.
    What is the asking price?
    The asking price for this property is $6,519,000.
    What are key features of this property?
    This property features: 11-year lease term remaining with extension options and scheduled rent increases; corporate guarantee.; Triple-net (NNN) lease; fee simple ownership with minimal landlord responsibilities.; High-traffic location at a major intersection (42,500 vehicles per day) in a strong retail corridor, serving a direct consumer base including over 600 apartment units within two miles.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    640 Jake Alexander Blvd Salisbury, NC 28147
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