795 Us-64 Plymouth, NC 27962

Property Details for 795 Us-64

Year built

2005

Lot size

0.80 lot acres

Property size

3,886 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This exceptional investment opportunity presents a 3,886 square foot, single-tenant net-leased medical office building located at 795 US-64, Plymouth, NC 27962. The property, built in 2005 and completely renovated in 2020, boasts a Class B rating and is situated on a 0.801-acre lot with 26 parking spaces. Currently 100% occupied by Plymouth Primary Care & Clinic under a 10-year lease commencing April 1, 2022, and expiring March 31, 2032, this investment offers a remaining lease term of 7.4 years. The lease includes a 2% annual rent increase, ensuring consistent income growth. The property features exam rooms, a nurse's station, office area, three restrooms, a kitchenette/breakroom, and a lobby. Its strategic location on US-64 E, directly across from Washington Regional Medical Center and near a shopping center anchored by Food Lion, provides exceptional visibility and high traffic exposure (AADT 14,500). The property's Net Operating Income (NOI) is $71,500, resulting in a 6.29% capitalization rate. The asking price is $1,135,872, translating to $292.30 per square foot and $1,135,872 per unit. The property is zoned C2, Neighborhood Business. This is a corporate-owned, ground lease-free investment with strong potential for long-term returns.

Location Insight

City

Plymouth

County

Washington

State

North Carolina

Longitude

-76.7319

Latitude

35.8629