205 Sandalwood Ave Marine Corps Air Sta Marine Corps Air Station Cherry Point, NC 28532
- Office Properties & Spaces
- 13,549 SF
- 1.60 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 205 Sandalwood Ave Marine Corps Air Sta
- Year built
- 2002
- Lot size
- 1.60 lot acres
- Property size
- 13,549 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional 13,549 square foot medical office building, situated on 1.6 acres in Louisburg, North Carolina, presents a compelling investment opportunity. Built in 2002 and extensively renovated in 2022, the property boasts a 100% occupancy rate with three leased units to credit-worthy medical tenants. Each unit features separate HVAC and electric meters, ensuring efficient operation and cost management. The building is strategically located just off Louisburg's major retail bypass corridor, offering excellent visibility and accessibility. The property benefits from its proximity to US-401 and NC-39, a major commercial artery, and is within the Raleigh-Durham MSA, providing access to a large and growing population base. US-401 is currently undergoing expansion to four lanes from Raleigh, further enhancing the area's connectivity and future growth potential. The building features a new roof (2022) and a new HVAC system for Suite B (2023). Ample parking is available with 67 spaces. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $179,168, based on 2023 owner-reported expenses and projected 2024 rents. The zoning is B2, Town of Louisburg. This turnkey investment offers a rare opportunity to acquire a high-performing, fully leased medical office building in a rapidly developing area. The property is less than an hour from Downtown Raleigh, Durham, and Rocky Mount, and less than 30 minutes from several other key towns. The surrounding area is well-established, with over 564 businesses and 4,826 employees. The average annual daily traffic count (AADT) along US-401 at Sandalwood Avenue is 23,000 (2017 data).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marine Corps Air Station Cherry Point
- County
- Franklin
- State
- North Carolina
- Longitude
- -76.849
- Latitude
- 34.9136
