384 Faggart NW Ave, Concord, NC 28027-6069

This Concord, NC industrial property presents a compelling investment or owner-user opportunity. Priced at $2,975,000, this 35,411 square foot building boasts a 7.22% cap rate and a strong NOI of $214,900. Currently 100% occupied by a single tenant under a net-net lease expiring December 31, 2025, the property offers flexibility. The building, constructed in 1950 and renovated in 1987, features six loading docks, six dock-high doors, and ceiling heights ranging from 9 to 20 feet. The 1.89-acre lot provides ample space, complemented by 27 parking spaces. The property is zoned I-1 and includes 2,728 square feet of office space. The warehouse area is unheated. The building is equipped with a sprinkler system and can be subdivided into three bays. The current tenant is responsible for CAM, taxes, insurance, and HVAC, while the landlord maintains the roof and structure. This property offers a unique chance to capitalize on a strong tenant or transition to owner-occupancy upon lease expiration. The property's address is 384 Faggart Ave NW, Concord, NC 28027, and the APN is 5611-92-2608-0000.