620 Innes St Salisbury, NC 28144

Property Details for 620 Innes St

Year built

1966

Lot size

0.51 lot acres

Property size

3,810 SF

Zone code

B1

Property type

Office buildings

APN

006 185

APU

6185

Description

This exceptional investment opportunity presents a fully occupied, 3,810 square foot stand-alone office building located at 620 W Innes Street, Salisbury, NC. The property, situated on a 0.51-acre lot with 96 feet of frontage, boasts a prime location just a quarter-mile from Salisbury's city center. Currently leased to a nationally recognized charity, the building offers a secure, long-term lease extending through December 31, 2025, with an option to extend through 2028, incorporating annual rent increases. Generating a substantial gross annual income of $42,600, this property presents an attractive 8% capitalization rate with minimal landlord expenses. Built in 1966, this single-story, full-brick building showcases mid-century modern architecture, highlighted by a pitched/vaulted roofline, exposed rafters, abundant large windows, exterior paneling, and sleek interior/exterior brickwork. The spacious interior includes a remarkable 25' x 33' meeting room, nine individual offices, a breakroom, two restrooms, ample storage space, a mechanical room, a welcoming lobby, and an enclosed glass entryway. The property also features asphalt parking with 20 designated spaces. Zoned RMX, this versatile property offers a wide array of permissible uses. This offering is part of a larger portfolio of income-producing commercial properties available for purchase in Salisbury. This is a rare opportunity to acquire a stable, high-yielding investment in a desirable location.

Location Insight

City

Salisbury

County

Rowan

State

North Carolina

Longitude

-80.4754

Latitude

35.6727

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments