13% cap Medical Office 201 Virginia Road Edenton NC

201 Virginia Rd, Edenton, NC 27932, USA
  • Property ID: 2530
  • Date added: 08/18/21
  • Post Updated: 2022-01-26 13:56:55
  • Bathrooms: 7
  • Floors: 1
  • Status:
  • Area: 9622 sq ft
  • Lot size: 1.88 acres
  • Year built: 1958

Description

Income producing 9,622 sq ft medical bldg in front of the Hospital in Edenton.​ Vidant has leased the bldg since 2009, current rent $142,817/yr with $24,362/yr expenses making the NOI $118,455.​ Current price gives this property an incredible 13% cap rate! Lease has CPI index rent increase ability annually that was just exercised for the first time so the rent will increase by 17.2% to $167,381 in March 2021 (NOI $143,362) making it a 15.7% cap rate!! 15 exam rms, 7 restrms, multiple offices, conf rm, break rms, file rms, labs, and huge waiting & reception area.​ LL pays tax, ins, PM&E repairs.​ Expenses include $3561 HVAC repairs, $2037 plumbing repairs, $746 pest control, $10003 tax, $6172 insurance, $1808 flood insurance for a total of $24,362.​ 15 exam rooms, 7 restrooms, multiple offices, conference room, break room, labs, and huge waiting room and reception/bookkeeping area.

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Features

Features:
  • City SEWER!
  • Corner location
  • Great location for Medical
  • Hospital adjacent
Amenities:
  • Handicapped access
  • Freestanding Building
  • Landscaping
  • Private Parking

Documents

  • Survey
  • Tax Card
  • Deed

Agent

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Properties Qty: 95 Rating:

This style property is located in Edenton is currently and has been listed on The Rich Company. This property is listed at $ 911,000.00. It has 7 baths bathrooms, and is 9622 sq ft. The property was built in 1958 year.